Forward-Looking Statements Certain statements in this presentation are forward-looking and are subject to important risks, uncertainties and assumptions concerning future conditions that may ultimately prove to be inaccurate and may differ materially from actual future events or results. Forward-looking statements are based on estimates made by management of West 49 Inc. based on current information. These are not formal forecasts or projections of future results and have not been derived from any pro forma financial statements now have been audited or reviewed by any third party. You are reminded not t place undue reliance on these forward-looking statements, which speak only as of the date hereof. West 49 Inc. shall undertake no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstance that occur after the date hereof or to the occurrence of unanticipated events.
FY 2009 in Review <ul><li>Volatile Canadian $ </li></ul><ul><li>Cross-border shopping </li></ul><ul><li>Minimum wage increases </li></ul><ul><li>Troubling economy </li></ul>Challenging year
FY 2009 in Review <ul><li>Best brands on Earth, lowest prices ever </li></ul><ul><li>Platinum Club sales incentive program </li></ul><ul><li>Ontario no-tax event </li></ul>Primary objective: defend market share
FY 2009 in Review Defended market share Grew comparable store sales Impacted margins
FY 2009 in Review <ul><li>Shut down Duke’s Northshore </li></ul><ul><li>Centralized all functions for the Off The Wall banner into our Burlington head office </li></ul>Decisive action
A Strong Start to FY 2010 <ul><li>Continued top line growth </li></ul><ul><li>Higher gross margin </li></ul><ul><li>Benefited from focus on expense management </li></ul><ul><li>Narrowed loss from a year ago </li></ul>First quarter progress