Our distribution network is over capacity and has been for some time. |
This is a strategic choice that Wal-Mart is making. We respect their decision to emphasize the private label. |
Wal-Mart is such a huge retailer that, when it changes its strategy, it's going to affect your business. |
We accomplished our primary objectives. |
We planned on lower revenues because we are in the midst of transforming the business in Europe, and in the U.S. some of our retail customers are consolidating. |
We're trying to be realistic and not trying to over-promise. |