"Today's announcement is a crucial step forward in executing our corporate strategy to reinvigorate our core business, expand our penetration into higher profile, better and above price point brands, connect more directly with consumers, and utilize our operating infrastructure more efficiently to fund our growth."
"I have complete confidence in Pat, Jim and Arthur as the heads of our Lifestyle, Designer and Modern Alliances," Skinner, continued.
"These executives are proven winners who are uniquely suited to lead their respective alliances. Under new leadership and through this new organizational structure, we expect our design, merchandising, production and marketing teams to deliver outstanding product offerings, effective marketing and faster retail sell-through."
"We also expect to reduce expenses, as we take advantage of efficiencies in scale to eliminate redundant costs and improve our supply chain. We remain committed to a transforming strategy that leads to consistent sales and operating margin improvement, and we believe this announcement brings us closer to reaching this goal."