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Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 49.5 526.978564453125 m 125.361328125 526.978564453125 l s q 0 0 0 rg BT 49.50 528.70 Td (Confer) Tj ET Q q 0 0 0 rg BT 82.29 528.70 Td (ence Call) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 515.50 Td (The ) Tj ET Q q 0 0 0 rg BT 69.56 515.50 Td (company ) Tj ET Q q 0 0 0 rg BT 112.84 515.50 Td (will ) Tj ET Q q 0 0 0 rg BT 132.92 515.50 Td (host ) Tj ET Q q 0 0 0 rg BT 154.22 515.50 Td (a ) Tj ET Q q 0 0 0 rg BT 162.06 515.50 Td (conference ) Tj ET Q q 0 0 0 rg BT 213.26 515.50 Td (call ) Tj ET Q q 0 0 0 rg BT 232.10 515.50 Td (on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.84 515.50 Td (Thursday) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 286.67 515.50 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 292.38 515.50 Td (October26, ) Tj ET Q q 0 0 0 rg BT 347.27 515.50 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 369.27 515.50 Td ( ) Tj ET Q q 0 0 0 rg BT 372.23 515.50 Td (at ) Tj ET Q q 0 0 0 rg BT 383.13 515.50 Td (5:00 ) Tj ET Q q 0 0 0 rg BT 405.65 515.50 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 428.17 515.50 Td (ET) Tj ET Q q 0 0 0 rg BT 441.41 515.50 Td ( ) Tj ET Q q 0 0 0 rg BT 444.37 515.50 Td (to ) Tj ET Q q 0 0 0 rg BT 455.89 515.50 Td (review ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.77 515.50 Td (third) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.55 515.50 Td ( ) Tj ET Q q 0 0 0 rg BT 512.51 515.50 Td (quarter ) Tj ET Q q 0 0 0 rg BT 546.62 515.50 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 502.30 Td (year) Tj ET Q q 0 0 0 rg BT 68.21 502.30 Td (-to-date ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 106.20 502.30 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 128.20 502.30 Td ( ) Tj ET Q q 0 0 0 rg BT 131.99 502.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 174.27 502.30 Td (results, ) Tj ET Q q 0 0 0 rg BT 209.53 502.30 Td (as ) Tj ET Q q 0 0 0 rg BT 222.48 502.30 Td (well ) Tj ET Q q 0 0 0 rg BT 245.21 502.30 Td (as ) Tj ET Q q 0 0 0 rg BT 258.17 502.30 Td (its ) Tj ET Q q 0 0 0 rg BT 272.35 502.30 Td (updated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 310.96 502.30 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.96 502.30 Td ( ) Tj ET Q q 0 0 0 rg BT 336.76 502.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 379.03 502.30 Td (outlook. ) Tj ET Q q 0 0 0 rg BT 418.91 502.30 Td (T) Tj ET Q q 0 0 0 rg BT 424.86 502.30 Td (o ) Tj ET Q q 0 0 0 rg BT 434.15 502.30 Td (participate, ) Tj ET Q q 0 0 0 rg BT 487.11 502.30 Td (please ) Tj ET Q q 0 0 0 rg BT 518.39 502.30 Td (dial ) Tj ET Q q 0 0 0 rg BT 538.67 502.30 Td (\(877\) ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 489.10 Td (407-9205 ) Tj ET Q q 0 0 0 rg BT 94.55 489.10 Td (in ) Tj ET Q q 0 0 0 rg BT 105.99 489.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.32 489.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 144.56 489.10 Td (The ) Tj ET Q q 0 0 0 rg BT 164.55 489.10 Td (call ) Tj ET Q q 0 0 0 rg BT 183.31 489.10 Td (will ) Tj ET Q q 0 0 0 rg BT 203.31 489.10 Td (be ) Tj ET Q q 0 0 0 rg BT 216.58 489.10 Td (webcast ) Tj ET Q q 0 0 0 rg BT 254.90 489.10 Td (live ) Tj ET Q q 0 0 0 rg BT 274.28 489.10 Td (on ) Tj ET Q q 0 0 0 rg BT 288.17 489.10 Td (the ) Tj ET Q q 0 0 0 rg BT 304.49 489.10 Td (Investor ) Tj ET Q q 0 0 0 rg BT 343.42 489.10 Td (Relations ) Tj ET Q q 0 0 0 rg BT 387.86 489.10 Td (section ) Tj ET Q q 0 0 0 rg BT 421.91 489.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.96 489.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.28 489.10 Td (company's ) Tj ET Q q 0 0 0 rg BT 499.75 489.10 Td (website ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 536.24169921875 487.63369140625 m 562.5224609375 487.63369140625 l s q 0 0 1 rg BT 536.24 489.10 Td (http://) Tj ET Q BT /F1 11.00 Tf ET 0 0 1 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 49.5 474.43369140625 m 149.703125 474.43369140625 l s q 0 0 1 rg BT 49.50 475.90 Td (investor) Tj ET Q q 0 0 1 rg BT 84.33 475.90 Td (.columbia.com) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 149.70 475.90 Td (.) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 49.5 447.6220703125 m 79.51171875 447.6220703125 l s q 0 0 0 rg BT 49.50 449.50 Td (Third) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 79.51171875 447.6220703125 m 177.943359375 447.6220703125 l s q 0 0 0 rg BT 79.51 449.50 Td ( ) Tj ET Q q 0 0 0 rg BT 82.51 449.50 Td (Quarter) Tj ET Q q 0 0 0 rg BT 124.28 449.50 Td ( ) Tj ET Q q 0 0 0 rg BT 127.28 449.50 Td (Summary) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 436.30 Td (Net ) Tj ET Q q 0 0 0 rg BT 68.13 436.30 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 92.26 436.30 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 128.29 436.30 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 136.54 436.30 Td ($1.7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 155.79 436.30 Td ( ) Tj ET Q q 0 0 0 rg BT 158.54 436.30 Td (million, ) Tj ET Q q 0 0 0 rg BT 195.82 436.30 Td (or ) Tj ET Q q 0 0 0 rg BT 207.74 436.30 Td (less ) Tj ET Q q 0 0 0 rg BT 226.99 436.30 Td (than ) Tj ET Q q 0 0 0 rg BT 248.68 436.30 Td (1 ) Tj ET Q q 0 0 0 rg BT 256.93 436.30 Td (percent, ) Tj ET Q q 0 0 0 rg BT 294.79 436.30 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 306.10 436.30 Td ($747.4 ) Tj ET Q q 0 0 0 rg BT 339.10 436.30 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.88 436.30 Td (.) 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(share, ) Tj ET Q q 0 0 0 rg BT 383.44 304.30 Td (including ) Tj ET Q q 0 0 0 rg BT 427.61 304.30 Td (program ) Tj ET Q q 0 0 0 rg BT 467.49 304.30 Td (expenses ) Tj ET Q q 0 0 0 rg BT 509.81 304.30 Td (and ) Tj ET Q q 0 0 0 rg BT 528.31 304.30 Td (discrete ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 291.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 74.25 291.10 Td (of ) Tj ET Q q 0 0 0 rg BT 86.16 291.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 152.45 291.10 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 157.95 291.10 Td (2.1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 171.70 291.10 Td ( ) Tj ET Q q 0 0 0 rg BT 174.45 291.10 Td (million ) Tj ET Q q 0 0 0 rg BT 208.98 291.10 Td (net ) Tj ET Q q 0 0 0 rg BT 225.17 291.10 Td (of ) Tj ET Q q 0 0 0 rg BT 237.08 291.10 Td (tax, ) Tj ET Q q 0 0 0 rg BT 256.02 291.10 Td (or ) Tj ET Q q 0 0 0 rg BT 267.93 291.10 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 273.43 291.10 Td (0.03) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 292.68 291.10 Td ( ) Tj 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Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 264.70 Td (The ) Tj ET Q q 0 0 0 rg BT 69.20 264.70 Td (board ) Tj ET Q q 0 0 0 rg BT 96.84 264.70 Td (of ) Tj ET Q q 0 0 0 rg BT 108.60 264.70 Td (directors ) Tj ET Q q 0 0 0 rg BT 149.69 264.70 Td (authorized ) Tj ET Q q 0 0 0 rg BT 198.71 264.70 Td (a ) Tj ET Q q 0 0 0 rg BT 206.19 264.70 Td (6 ) Tj ET Q q 0 0 0 rg BT 214.29 264.70 Td (percent ) Tj ET Q q 0 0 0 rg BT 249.25 264.70 Td (increase ) Tj ET Q q 0 0 0 rg BT 287.88 264.70 Td (in ) Tj ET Q q 0 0 0 rg BT 299.03 264.70 Td (the ) Tj ET Q q 0 0 0 rg BT 315.07 264.70 Td (company's ) Tj ET Q q 0 0 0 rg BT 364.25 264.70 Td (regular ) Tj ET Q q 0 0 0 rg BT 398.00 264.70 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 440.30 264.70 Td (dividend ) Tj ET Q q 0 0 0 rg BT 481.39 264.70 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 492.54 264.70 Td ($0.19) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 517.29 264.70 Td ( ) Tj ET Q q 0 0 0 rg BT 519.89 264.70 Td (per ) Tj ET Q q 0 0 0 rg BT 536.54 264.70 Td (share.) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 49.5 237.6220703125 m 168.685546875 237.6220703125 l s q 0 0 0 rg BT 49.50 239.50 Td (Y) Tj ET Q q 0 0 0 rg BT 56.84 239.50 Td (ear) Tj ET Q q 0 0 0 rg BT 73.04 239.50 Td (-to-Date Summary) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 226.30 Td (Net sales increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 136.54 226.30 Td ($30.5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 161.29 226.30 Td ( million, or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 213.24 226.30 Td (2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 218.74 226.30 Td ( percent, to a record ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 309.13 226.30 Td ($1,690.1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 347.63 226.30 Td ( million.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 199.90 Td (Gross mar) Tj ET Q q 0 0 0 rg BT 94.82 199.90 Td (gin of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 123.54 199.90 Td (46.7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 142.79 199.90 Td ( percent ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 180.66 199.90 Td (expanded) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 222.80 199.90 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 225.55 199.90 Td (10) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 236.55 199.90 Td ( basis points. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 173.50 Td (SG&A) Tj ET Q q 0 0 0 rg BT 79.45 173.50 Td ( ) Tj ET Q q 0 0 0 rg BT 81.76 173.50 Td (expenses ) Tj ET Q q 0 0 0 rg BT 123.78 173.50 Td (increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 167.62 173.50 Td ($21.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 192.37 173.50 Td ( ) Tj ET Q q 0 0 0 rg BT 194.67 173.50 Td (million, ) Tj ET Q q 0 0 0 rg BT 231.51 173.50 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 242.98 173.50 Td (3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 248.48 173.50 Td ( ) Tj ET Q q 0 0 0 rg BT 250.79 173.50 Td (percent, ) Tj ET Q q 0 0 0 rg BT 288.22 173.50 Td (including ) Tj ET Q q 0 0 0 rg BT 332.08 173.50 Td (approximately ) Tj ET Q q 0 0 0 rg BT 397.92 173.50 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 403.42 173.50 Td (8.6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 417.17 173.50 Td ( ) Tj ET Q q 0 0 0 rg BT 419.48 173.50 Td (million ) Tj ET Q q 0 0 0 rg BT 453.57 173.50 Td (of ) Tj ET Q q 0 0 0 rg BT 465.04 173.50 Td (program ) Tj ET Q q 0 0 0 rg BT 504.61 173.50 Td (expenses ) Tj ET Q q 0 0 0 rg BT 546.63 173.50 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 160.30 Td (discrete ) Tj ET Q q 0 0 0 rg BT 86.23 160.30 Td (costs ) Tj ET Q q 0 0 0 rg BT 110.75 160.30 Td (related ) Tj ET Q q 0 0 0 rg BT 143.20 160.30 Td (to ) Tj ET Q q 0 0 0 rg BT 154.29 160.30 Td (Project ) Tj ET Q q 0 0 0 rg BT 187.97 160.30 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 239.10 160.30 Td (, ) Tj ET Q q 0 0 0 rg BT 244.37 160.30 Td (resulting ) Tj ET Q q 0 0 0 rg BT 285.39 160.30 Td (in ) Tj ET Q q 0 0 0 rg BT 296.47 160.30 Td (approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 362.54 160.30 Td (60) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 373.54 160.30 Td ( ) Tj ET Q q 0 0 0 rg BT 376.06 160.30 Td (basis ) Tj ET Q q 0 0 0 rg BT 400.59 160.30 Td (points ) Tj ET Q q 0 0 0 rg BT 430.01 160.30 Td (of ) Tj ET Q q 0 0 0 rg BT 441.69 160.30 Td (SG&A) Tj ET Q q 0 0 0 rg BT 471.65 160.30 Td ( ) Tj ET Q q 0 0 0 rg BT 474.18 160.30 Td (expense ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 512.13 160.30 Td (deleverage) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.76 160.30 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 133.90 Td (Operating ) Tj ET Q q 0 0 0 rg BT 95.83 133.90 Td (income ) Tj ET Q q 0 0 0 rg BT 130.56 133.90 Td (declined ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 170.17 133.90 Td ($2.5 ) Tj ET Q q 0 0 0 rg BT 191.77 133.90 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 223.55 133.90 Td (, ) Tj ET Q q 0 0 0 rg BT 228.65 133.90 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 240.16 133.90 Td (2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 245.66 133.90 Td ( ) Tj ET Q q 0 0 0 rg BT 248.01 133.90 Td (percent, ) Tj ET Q q 0 0 0 rg BT 285.48 133.90 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 296.39 133.90 Td ($153.6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 326.64 133.90 Td ( ) Tj ET Q q 0 0 0 rg BT 328.99 133.90 Td (million, ) Tj ET Q q 0 0 0 rg BT 365.87 133.90 Td (representing ) Tj ET Q q 0 0 0 rg BT 422.58 133.90 Td (operating ) Tj ET Q q 0 0 0 rg BT 466.47 133.90 Td (mar) Tj ET Q q 0 0 0 rg BT 483.38 133.90 Td (gin ) Tj ET Q q 0 0 0 rg BT 499.78 133.90 Td (of ) Tj ET Q q 0 0 0 rg BT 511.30 133.90 Td (9.1 ) Tj ET Q q 0 0 0 rg BT 527.40 133.90 Td (percent.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 120.70 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 107.50 Td (Net ) Tj ET Q q 0 0 0 rg BT 67.70 107.50 Td (income ) Tj ET Q q 0 0 0 rg BT 102.39 107.50 Td (increased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 146.23 107.50 Td (5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 151.73 107.50 Td ( ) Tj ET Q q 0 0 0 rg BT 154.05 107.50 Td (percent ) Tj ET Q q 0 0 0 rg BT 188.73 107.50 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 199.60 107.50 Td ($1) Tj ET Q q 0 0 0 rg BT 210.19 107.50 Td (12.2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 229.44 107.50 Td ( ) Tj ET Q q 0 0 0 rg BT 231.76 107.50 Td (million, ) Tj ET Q q 0 0 0 rg BT 268.60 107.50 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 280.08 107.50 Td ($1.59) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 304.83 107.50 Td ( ) Tj ET Q q 0 0 0 rg BT 307.15 107.50 Td (per ) Tj ET Q q 0 0 0 rg BT 323.51 107.50 Td (diluted ) Tj ET Q q 0 0 0 rg BT 356.37 107.50 Td (share, ) Tj ET Q q 0 0 0 rg BT 384.65 107.50 Td (including ) Tj ET Q q 0 0 0 rg BT 428.51 107.50 Td (program ) Tj ET Q q 0 0 0 rg BT 468.09 107.50 Td (expenses ) Tj ET Q q 0 0 0 rg BT 510.11 107.50 Td (and ) Tj ET Q q 0 0 0 rg BT 528.31 107.50 Td (discrete ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 94.30 Td (costs ) Tj ET Q q 0 0 0 rg BT 74.25 94.30 Td (of ) Tj ET Q q 0 0 0 rg BT 86.16 94.30 Td (approximately ) Tj ET Q q 0 0 0 rg BT 152.45 94.30 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 157.95 94.30 Td (5.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 171.70 94.30 Td ( ) Tj ET Q q 0 0 0 rg BT 174.45 94.30 Td (million ) Tj ET Q q 0 0 0 rg BT 208.98 94.30 Td (net ) Tj ET Q q 0 0 0 rg BT 225.17 94.30 Td (of ) Tj ET Q q 0 0 0 rg BT 237.08 94.30 Td (tax, ) Tj ET Q q 0 0 0 rg BT 256.02 94.30 Td (or ) Tj ET Q q 0 0 0 rg BT 267.93 94.30 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 273.43 94.30 Td (0.08) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 292.68 94.30 Td ( ) Tj ET Q q 0 0 0 rg BT 295.43 94.30 Td (per ) Tj ET Q q 0 0 0 rg BT 312.23 94.30 Td (diluted ) Tj ET Q q 0 0 0 rg BT 345.53 94.30 Td (share, ) Tj ET Q q 0 0 0 rg BT 374.24 94.30 Td (related ) Tj ET Q q 0 0 0 rg BT 406.91 94.30 Td (to ) Tj ET Q q 0 0 0 rg BT 418.21 94.30 Td (Project ) Tj ET Q q 0 0 0 rg BT 452.12 94.30 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 503.25 94.30 Td (.) Tj ET Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (2) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 49.5 746.0220703125 m 112.505859375 746.0220703125 l s q 0 0 0 rg BT 49.50 747.90 Td (Updated ) Tj ET Q q 0 0 0 rg BT 96.51 747.90 Td (FY) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 112.505859375 746.0220703125 m 136.505859375 746.0220703125 l s q 0 0 0 rg BT 112.51 747.90 Td (2017) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 136.505859375 746.0220703125 m 286.189453125 746.0220703125 l s q 0 0 0 rg BT 136.51 747.90 Td ( ) Tj ET Q q 0 0 0 rg BT 139.51 747.90 Td (Financial ) Tj ET Q q 0 0 0 rg BT 190.51 747.90 Td (Outlook ) Tj ET Q q 0 0 0 rg BT 235.52 747.90 Td (Summary) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 286.19 747.90 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 734.70 Td (Compared ) Tj ET Q q 0 0 0 rg BT 98.33 734.70 Td (with ) Tj ET Q q 0 0 0 rg BT 120.90 734.70 Td (the ) Tj ET Q q 0 0 0 rg BT 137.35 734.70 Td (company's ) Tj ET Q q 0 0 0 rg BT 186.95 734.70 Td (previous ) Tj ET Q q 0 0 0 rg BT 227.85 734.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 252.86 734.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 294.35 734.70 Td (outlook ) Tj ET Q q 0 0 0 rg BT 330.98 734.70 Td (provided ) Tj ET Q q 0 0 0 rg BT 373.09 734.70 Td (on ) Tj ET Q q 0 0 0 rg BT 387.11 734.70 Td (July ) Tj ET Q q 0 0 0 rg BT 408.46 734.70 Td (27, ) Tj ET Q q 0 0 0 rg BT 425.22 734.70 Td (the ) Tj ET Q q 0 0 0 rg BT 441.67 734.70 Td (following ) Tj ET Q q 0 0 0 rg BT 487.46 734.70 Td (updated ) Tj ET Q q 0 0 0 rg BT 525.29 734.70 Td (full ) Tj ET Q q 0 0 0 rg BT 543.58 734.70 Td (year ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 721.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 77.48 721.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 121.94 721.50 Td (outlook ) Tj ET Q q 0 0 0 rg BT 161.53 721.50 Td (now ) Tj ET Q q 0 0 0 rg BT 186.45 721.50 Td (includes ) Tj ET Q q 0 0 0 rg BT 229.09 721.50 Td (program ) Tj ET Q q 0 0 0 rg BT 272.33 721.50 Td (expenses ) Tj ET Q q 0 0 0 rg BT 318.02 721.50 Td (and ) Tj ET Q q 0 0 0 rg BT 339.88 721.50 Td (discrete ) Tj ET Q q 0 0 0 rg BT 380.06 721.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 408.04 721.50 Td (related ) Tj ET Q q 0 0 0 rg BT 443.94 721.50 Td (to ) Tj ET Q q 0 0 0 rg BT 458.48 721.50 Td (Project ) Tj ET Q q 0 0 0 rg BT 495.61 721.50 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 547.36 721.50 Td ( ) Tj ET Q q 0 0 0 rg BT 553.34 721.50 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 708.30 Td (approximately ) Tj ET Q q 0 0 0 rg BT 116.25 708.30 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.75 708.30 Td (15.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 141.00 708.30 Td ( ) Tj ET Q q 0 0 0 rg BT 144.22 708.30 Td (million ) Tj ET Q q 0 0 0 rg BT 179.22 708.30 Td (\($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 188.38 708.30 Td (9.5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 202.13 708.30 Td ( ) Tj ET Q q 0 0 0 rg BT 205.35 708.30 Td (million ) Tj ET Q q 0 0 0 rg BT 240.35 708.30 Td (net ) Tj ET Q q 0 0 0 rg BT 257.01 708.30 Td (of ) Tj ET Q q 0 0 0 rg BT 269.39 708.30 Td (tax, ) Tj ET Q q 0 0 0 rg BT 288.80 708.30 Td (or ) Tj ET Q q 0 0 0 rg BT 301.18 708.30 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 306.68 708.30 Td (0.14) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.93 708.30 Td ( ) Tj ET Q q 0 0 0 rg BT 329.15 708.30 Td (per ) Tj ET Q q 0 0 0 rg BT 346.41 708.30 Td (diluted ) Tj ET Q q 0 0 0 rg BT 380.18 708.30 Td (share\). ) Tj ET Q q 0 0 0 rg BT 412.31 708.30 Td (Approximately ) Tj ET Q q 0 0 0 rg BT 482.13 708.30 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 487.63 708.30 Td (8.6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 501.38 708.30 Td ( ) Tj ET Q q 0 0 0 rg BT 504.60 708.30 Td (million ) Tj ET Q q 0 0 0 rg BT 539.60 708.30 Td (\($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 548.76 708.30 Td (5.4) Tj ET Q BT /F1 11.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (million ) Tj ET Q q 0 0 0 rg BT 84.03 695.10 Td (net ) Tj ET Q q 0 0 0 rg BT 100.22 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 112.13 695.10 Td (tax, ) Tj ET Q q 0 0 0 rg BT 131.07 695.10 Td (or ) Tj ET Q q 0 0 0 rg BT 142.98 695.10 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 148.48 695.10 Td (0.08) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 167.73 695.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.48 695.10 Td (per ) Tj ET Q q 0 0 0 rg BT 187.28 695.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 220.58 695.10 Td (share\) ) Tj ET Q q 0 0 0 rg BT 250.20 695.10 Td (has ) Tj ET Q q 0 0 0 rg BT 267.61 695.10 Td (been ) Tj ET Q q 0 0 0 rg BT 291.13 695.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 330.53 695.10 Td (through ) Tj ET Q q 0 0 0 rg BT 367.50 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 383.68 695.10 Td (first ) Tj ET Q q 0 0 0 rg BT 404.15 695.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 425.84 695.10 Td (months ) Tj ET Q q 0 0 0 rg BT 460.98 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 472.90 695.10 Td (2017.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 668.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 69.36 668.70 Td (updated ) Tj ET Q q 0 0 0 rg BT 106.93 668.70 Td (full ) Tj ET Q q 0 0 0 rg BT 124.95 668.70 Td (year ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 146.63 668.70 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.63 668.70 Td ( ) Tj ET Q q 0 0 0 rg BT 171.38 668.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 212.61 668.70 Td (outlook ) Tj ET Q q 0 0 0 rg BT 248.97 668.70 Td (anticipates: ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 655.50 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 655.50 Td (Net ) Tj ET Q q 0 0 0 rg BT 103.49 655.50 Td (sales ) Tj ET Q q 0 0 0 rg BT 126.99 655.50 Td (growth ) Tj ET Q q 0 0 0 rg BT 160.26 655.50 Td (of ) Tj ET Q q 0 0 0 rg BT 171.53 655.50 Td (approximately ) Tj ET Q q 0 0 0 rg BT 237.18 655.50 Td (3 ) Tj ET Q q 0 0 0 rg BT 244.79 655.50 Td (percent ) Tj ET Q q 0 0 0 rg BT 279.27 655.50 Td (compared ) Tj ET Q q 0 0 0 rg BT 324.74 655.50 Td (with ) Tj ET Q q 0 0 0 rg BT 346.41 655.50 Td (2016 ) Tj ET Q q 0 0 0 rg BT 370.52 655.50 Td (net ) Tj ET Q q 0 0 0 rg BT 386.07 655.50 Td (sales ) Tj ET Q q 0 0 0 rg BT 409.56 655.50 Td (of ) Tj ET Q q 0 0 0 rg BT 420.84 655.50 Td ($2.38 ) Tj ET Q q 0 0 0 rg BT 447.70 655.50 Td (billion, ) Tj ET Q q 0 0 0 rg BT 481.29 655.50 Td (including ) Tj ET Q q 0 0 0 rg BT 524.95 655.50 Td (less ) Tj ET Q q 0 0 0 rg BT 543.56 655.50 Td (than ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 642.30 Td (1 ) Tj ET Q q 0 0 0 rg BT 93.75 642.30 Td (percentage ) Tj ET Q q 0 0 0 rg BT 144.13 642.30 Td (point ) Tj ET Q q 0 0 0 rg BT 169.49 642.30 Td (positive ) Tj ET Q q 0 0 0 rg BT 207.07 642.30 Td (ef) Tj ET Q q 0 0 0 rg BT 215.42 642.30 Td (fect ) Tj ET Q q 0 0 0 rg BT 234.66 642.30 Td (from ) Tj ET Q q 0 0 0 rg BT 258.79 642.30 Td (changes ) Tj ET Q q 0 0 0 rg BT 296.97 642.30 Td (in ) Tj ET Q q 0 0 0 rg BT 308.27 642.30 Td (currency ) Tj ET Q q 0 0 0 rg BT 349.49 642.30 Td (exchange ) Tj ET Q q 0 0 0 rg BT 393.77 642.30 Td (rates;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 629.10 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 629.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 132.67 629.10 Td (income ) Tj ET Q q 0 0 0 rg BT 168.23 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 180.58 629.10 Td (between ) Tj ET Q q 0 0 0 rg BT 220.42 629.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 287.14 629.10 Td ($243 ) Tj ET Q q 0 0 0 rg BT 312.32 629.10 Td (million ) Tj ET Q q 0 0 0 rg BT 347.29 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 366.36 629.10 Td ($252 ) Tj ET Q q 0 0 0 rg BT 391.55 629.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 429.26 629.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 486.82 629.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 531.54 629.10 Td (mar) Tj ET Q q 0 0 0 rg BT 548.45 629.10 Td (gin ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 615.90 Td (of ) Tj ET Q q 0 0 0 rg BT 96.98 615.90 Td (approximately ) Tj ET Q q 0 0 0 rg BT 162.83 615.90 Td (10.3 ) Tj ET Q q 0 0 0 rg BT 184.39 615.90 Td (percent, ) Tj ET Q q 0 0 0 rg BT 221.82 615.90 Td (including ) Tj ET Q q 0 0 0 rg BT 265.69 615.90 Td (program ) Tj ET Q q 0 0 0 rg BT 305.27 615.90 Td (expenses ) Tj ET Q q 0 0 0 rg BT 347.29 615.90 Td (and ) Tj ET Q q 0 0 0 rg BT 365.49 615.90 Td (discrete ) Tj ET Q q 0 0 0 rg BT 402.01 615.90 Td (costs ) Tj ET Q q 0 0 0 rg BT 426.32 615.90 Td (of ) Tj ET Q q 0 0 0 rg BT 437.80 615.90 Td (approximately ) Tj ET Q q 0 0 0 rg BT 503.65 615.90 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.15 615.90 Td (15.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.40 615.90 Td ( ) Tj ET Q q 0 0 0 rg BT 530.72 615.90 Td (million ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 602.70 Td (related ) Tj ET Q q 0 0 0 rg BT 117.98 602.70 Td (to ) Tj ET Q q 0 0 0 rg BT 129.09 602.70 Td (Project ) Tj ET Q q 0 0 0 rg BT 162.80 602.70 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 213.93 602.70 Td (, ) Tj ET Q q 0 0 0 rg BT 219.23 602.70 Td (of ) Tj ET Q q 0 0 0 rg BT 230.95 602.70 Td (which ) Tj ET Q q 0 0 0 rg BT 260.38 602.70 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 265.88 602.70 Td (8.6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 279.63 602.70 Td ( ) Tj ET Q q 0 0 0 rg BT 282.19 602.70 Td (million ) Tj ET Q q 0 0 0 rg BT 316.52 602.70 Td (has ) Tj ET Q q 0 0 0 rg BT 333.74 602.70 Td (been ) Tj ET Q q 0 0 0 rg BT 357.06 602.70 Td (incurred ) Tj ET Q q 0 0 0 rg BT 396.26 602.70 Td (through ) Tj ET Q q 0 0 0 rg BT 433.03 602.70 Td (the ) Tj ET Q q 0 0 0 rg BT 449.03 602.70 Td (first ) Tj ET Q q 0 0 0 rg BT 469.30 602.70 Td (nine ) Tj ET Q q 0 0 0 rg BT 490.79 602.70 Td (months ) Tj ET Q q 0 0 0 rg BT 525.74 602.70 Td (of ) Tj ET Q q 0 0 0 rg BT 537.46 602.70 Td (2017;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 589.50 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 589.50 Td (An ef) Tj ET Q q 0 0 0 rg BT 110.04 589.50 Td (fective income tax rate of approximately 23.0 percent; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 576.30 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 576.30 Td (Net ) Tj ET Q q 0 0 0 rg BT 102.82 576.30 Td (income ) Tj ET Q q 0 0 0 rg BT 136.64 576.30 Td (between ) Tj ET Q q 0 0 0 rg BT 174.73 576.30 Td (approximately ) Tj ET Q q 0 0 0 rg BT 239.70 576.30 Td ($183 ) Tj ET Q q 0 0 0 rg BT 263.15 576.30 Td (million ) Tj ET Q q 0 0 0 rg BT 296.37 576.30 Td (and ) Tj ET Q q 0 0 0 rg BT 313.69 576.30 Td ($190 ) Tj ET Q q 0 0 0 rg BT 337.13 576.30 Td (million, ) Tj ET Q q 0 0 0 rg BT 373.10 576.30 Td (or ) Tj ET Q q 0 0 0 rg BT 383.71 576.30 Td ($2.60 ) Tj ET Q q 0 0 0 rg BT 409.90 576.30 Td (to ) Tj ET Q q 0 0 0 rg BT 419.90 576.30 Td ($2.70 ) Tj ET Q q 0 0 0 rg BT 446.09 576.30 Td (per ) Tj ET Q q 0 0 0 rg BT 461.57 576.30 Td (diluted ) Tj ET Q q 0 0 0 rg BT 493.56 576.30 Td (share, ) Tj ET Q q 0 0 0 rg BT 520.96 576.30 Td (including ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 563.10 Td (program ) Tj ET Q q 0 0 0 rg BT 124.59 563.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 166.13 563.10 Td (and ) Tj ET Q q 0 0 0 rg BT 183.83 563.10 Td (discrete ) Tj ET Q q 0 0 0 rg BT 219.86 563.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 243.69 563.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.68 563.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 320.04 563.10 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.54 563.10 Td (9.5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 339.29 563.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.12 563.10 Td (million ) Tj ET Q q 0 0 0 rg BT 374.72 563.10 Td (net ) Tj ET Q q 0 0 0 rg BT 389.99 563.10 Td (of ) Tj ET Q q 0 0 0 rg BT 400.98 563.10 Td (tax, ) Tj ET Q q 0 0 0 rg BT 418.99 563.10 Td (or ) Tj ET Q q 0 0 0 rg BT 429.98 563.10 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.48 563.10 Td (0.14) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.73 563.10 Td ( ) Tj ET Q q 0 0 0 rg BT 456.56 563.10 Td (per ) Tj ET Q q 0 0 0 rg BT 472.43 563.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 504.81 563.10 Td (share, ) Tj ET Q q 0 0 0 rg BT 532.59 563.10 Td (related ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 549.90 Td (to ) Tj ET Q q 0 0 0 rg BT 96.66 549.90 Td (Project ) Tj ET Q q 0 0 0 rg BT 130.41 549.90 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 181.54 549.90 Td (, ) Tj ET Q q 0 0 0 rg BT 186.89 549.90 Td (of ) Tj ET Q q 0 0 0 rg BT 198.65 549.90 Td (which ) Tj ET Q q 0 0 0 rg BT 228.13 549.90 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 233.63 549.90 Td (5.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 247.38 549.90 Td ( ) Tj ET Q q 0 0 0 rg BT 249.98 549.90 Td (million ) Tj ET Q q 0 0 0 rg BT 284.36 549.90 Td (net ) Tj ET Q q 0 0 0 rg BT 300.40 549.90 Td (of ) Tj ET Q q 0 0 0 rg BT 312.17 549.90 Td (tax, ) Tj ET Q q 0 0 0 rg BT 330.95 549.90 Td (or ) Tj ET Q q 0 0 0 rg BT 342.72 549.90 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.22 549.90 Td (0.08) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 367.47 549.90 Td ( ) Tj ET Q q 0 0 0 rg BT 370.07 549.90 Td (per ) Tj ET Q q 0 0 0 rg BT 386.71 549.90 Td (diluted ) Tj ET Q q 0 0 0 rg BT 419.86 549.90 Td (share, ) Tj ET Q q 0 0 0 rg BT 448.42 549.90 Td (has ) Tj ET Q q 0 0 0 rg BT 465.68 549.90 Td (been ) Tj ET Q q 0 0 0 rg BT 489.05 549.90 Td (incurred ) Tj ET Q q 0 0 0 rg BT 528.29 549.90 Td (through ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 536.70 Td (the ) Tj ET Q q 0 0 0 rg BT 101.69 536.70 Td (first ) Tj ET Q q 0 0 0 rg BT 122.16 536.70 Td (nine ) Tj ET Q q 0 0 0 rg BT 143.85 536.70 Td (months ) Tj ET Q q 0 0 0 rg BT 178.99 536.70 Td (of ) Tj ET Q q 0 0 0 rg BT 190.90 536.70 Td (2017.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 510.30 Td (The ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 68.16 510.30 Td (Updated) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 108.50 510.30 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 110.05 510.30 Td (Full ) Tj ET Q q 0 0 0 rg BT 130.33 510.30 Td (Y) Tj ET Q q 0 0 0 rg BT 137.05 510.30 Td (ear) Tj ET Q q 0 0 0 rg BT 152.12 510.30 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 153.67 510.30 Td (2017) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 175.67 510.30 Td ( ) Tj ET Q q 0 0 0 rg BT 177.23 510.30 Td (Financial ) Tj ET Q q 0 0 0 rg BT 222.79 510.30 Td (Outlook) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 261.30 510.30 Td ( ) Tj ET Q q 0 0 0 rg BT 262.85 510.30 Td (section ) Tj ET Q q 0 0 0 rg BT 295.57 510.30 Td (beginning ) Tj ET Q q 0 0 0 rg BT 341.12 510.30 Td (on ) Tj ET Q q 0 0 0 rg BT 353.67 510.30 Td (page ) Tj ET Q q 0 0 0 rg BT 375.99 510.30 Td (4 ) Tj ET Q q 0 0 0 rg BT 383.05 510.30 Td (below ) Tj ET Q q 0 0 0 rg BT 411.49 510.30 Td (contains ) Tj ET Q q 0 0 0 rg BT 449.70 510.30 Td (a ) Tj ET Q q 0 0 0 rg BT 456.14 510.30 Td (more ) Tj ET Q q 0 0 0 rg BT 480.29 510.30 Td (detailed ) Tj ET Q q 0 0 0 rg BT 516.66 510.30 Td (discussion ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.41 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 77.60 497.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 110.28 497.10 Td (contributing ) Tj ET Q q 0 0 0 rg BT 166.80 497.10 Td (to ) Tj ET Q q 0 0 0 rg BT 178.11 497.10 Td (this ) Tj ET Q q 0 0 0 rg BT 196.75 497.10 Td (outlook.) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 49.5 467.6220703125 m 79.51171875 467.6220703125 l s q 0 0 0 rg BT 49.50 469.50 Td (Third) Tj ET Q BT /F2 12.00 Tf ET 0 0 0 RG /GS0 gs 1.14 w 0 i [] 0 d 1 J 1 j 3 M 79.51171875 467.6220703125 m 218.619140625 467.6220703125 l s q 0 0 0 rg BT 79.51 469.50 Td ( ) Tj ET Q q 0 0 0 rg BT 82.51 469.50 Td (Quarter) Tj ET Q q 0 0 0 rg BT 124.28 469.50 Td ( ) Tj ET Q q 0 0 0 rg BT 127.28 469.50 Td (Financial ) Tj ET Q q 0 0 0 rg BT 178.28 469.50 Td (Results ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 456.30 Td (\(All ) Tj ET Q q 0 0 0 rg BT 69.97 456.30 Td (comparisons ) Tj ET Q q 0 0 0 rg BT 128.32 456.30 Td (are ) Tj ET Q q 0 0 0 rg BT 144.50 456.30 Td (between ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 183.90 456.30 Td (third) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 204.67 456.30 Td ( ) Tj ET Q q 0 0 0 rg BT 207.42 456.30 Td (quarter ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 241.32 456.30 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.32 456.30 Td ( ) Tj ET Q q 0 0 0 rg BT 266.07 456.30 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 284.70 456.30 Td (third) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 305.48 456.30 Td ( ) Tj ET Q q 0 0 0 rg BT 308.23 456.30 Td (quarter ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 342.12 456.30 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 364.12 456.30 Td (, ) Tj ET Q q 0 0 0 rg BT 369.62 456.30 Td (unless ) Tj ET Q q 0 0 0 rg BT 399.87 456.30 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 445.39 456.30 Td (noted.\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 431.10 Td (Net Sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 417.90 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 110.30 417.90 Td (net ) Tj ET Q q 0 0 0 rg BT 126.49 417.90 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 150.62 417.90 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 186.65 417.90 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 194.90 417.90 Td ($1.7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 214.15 417.90 Td ( ) Tj ET Q q 0 0 0 rg BT 216.90 417.90 Td (million, ) Tj ET Q q 0 0 0 rg BT 254.18 417.90 Td (or ) Tj ET Q q 0 0 0 rg BT 266.09 417.90 Td (less ) Tj ET Q q 0 0 0 rg BT 285.34 417.90 Td (than ) Tj ET Q q 0 0 0 rg BT 307.03 417.90 Td (1 ) Tj ET Q q 0 0 0 rg BT 315.28 417.90 Td (percent, ) Tj ET Q q 0 0 0 rg BT 353.15 417.90 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 364.46 417.90 Td ($747.4 ) Tj ET Q q 0 0 0 rg BT 397.46 417.90 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.24 417.90 Td (.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 71.5 391.23369140625 m 107.55615234375 391.23369140625 l s q 0 0 0 rg BT 71.50 392.70 Td (Regions) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 107.56 392.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 379.50 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 379.50 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 126.66 379.50 Td (net ) Tj ET Q q 0 0 0 rg BT 143.71 379.50 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.69 379.50 Td (decrease) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 206.55 379.50 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 215.65 379.50 Td ($28.8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 240.40 379.50 Td ( ) Tj ET Q q 0 0 0 rg BT 244.00 379.50 Td (million, ) Tj ET Q q 0 0 0 rg BT 282.13 379.50 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 294.90 379.50 Td (6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 300.40 379.50 Td ( ) Tj ET Q q 0 0 0 rg BT 304.00 379.50 Td (percent, ) Tj ET Q q 0 0 0 rg BT 342.72 379.50 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 354.88 379.50 Td ($456.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 385.13 379.50 Td ( ) Tj ET Q q 0 0 0 rg BT 388.73 379.50 Td (million. ) Tj ET Q q 0 0 0 rg BT 426.60 379.50 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 447.31 379.50 Td (decrease) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.16 379.50 Td ( ) Tj ET Q q 0 0 0 rg BT 488.77 379.50 Td (in ) Tj ET Q q 0 0 0 rg BT 500.93 379.50 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 524.09 379.50 Td (net ) Tj ET Q q 0 0 0 rg BT 541.13 379.50 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 366.30 Td (reflected ) Tj ET Q q 0 0 0 rg BT 146.52 366.30 Td (a ) Tj ET Q q 0 0 0 rg BT 155.95 366.30 Td (low-double-digit ) Tj ET Q q 0 0 0 rg BT 234.44 366.30 Td (percentage ) Tj ET Q q 0 0 0 rg BT 286.62 366.30 Td (decrease ) Tj ET Q q 0 0 0 rg BT 329.03 366.30 Td (in ) Tj ET Q q 0 0 0 rg BT 342.14 366.30 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 390.67 366.30 Td (net ) Tj ET Q q 0 0 0 rg BT 408.66 366.30 Td (sales ) Tj ET Q q 0 0 0 rg BT 434.60 366.30 Td (resulting ) Tj ET Q q 0 0 0 rg BT 477.64 366.30 Td (primarily ) Tj ET Q q 0 0 0 rg BT 523.13 366.30 Td (from ) Tj ET Q q 0 0 0 rg BT 549.06 366.30 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 353.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 149.18 353.10 Td (ef) Tj ET Q q 0 0 0 rg BT 157.52 353.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 180.59 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 192.05 353.10 Td (a ) Tj ET Q q 0 0 0 rg BT 199.23 353.10 Td (shift ) Tj ET Q q 0 0 0 rg BT 221.09 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 231.95 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 247.69 353.10 Td (requested ) Tj ET Q q 0 0 0 rg BT 292.13 353.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 330.47 353.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 355.38 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 366.84 353.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 403.95 353.10 Td (Fall ) Tj ET Q q 0 0 0 rg BT 423.36 353.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 447.66 353.10 Td (advance ) Tj ET Q q 0 0 0 rg BT 485.99 353.10 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 532.28 353.10 Td (orders, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 339.90 Td (and ) Tj ET Q q 0 0 0 rg BT 122.46 339.90 Td (the ) Tj ET Q q 0 0 0 rg BT 138.97 339.90 Td (ef) Tj ET Q q 0 0 0 rg BT 147.32 339.90 Td (fects ) Tj ET Q q 0 0 0 rg BT 171.16 339.90 Td (of ) Tj ET Q q 0 0 0 rg BT 183.40 339.90 Td (sales ) Tj ET Q q 0 0 0 rg BT 207.85 339.90 Td (to ) Tj ET Q q 0 0 0 rg BT 219.48 339.90 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 242.12 339.90 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 289.18 339.90 Td (customers ) Tj ET Q q 0 0 0 rg BT 336.86 339.90 Td (that ) Tj ET Q q 0 0 0 rg BT 356.43 339.90 Td (have ) Tj ET Q q 0 0 0 rg BT 380.27 339.90 Td (under) Tj ET Q q 0 0 0 rg BT 405.11 339.90 Td (gone ) Tj ET Q q 0 0 0 rg BT 429.57 339.90 Td (bankruptcies, ) Tj ET Q q 0 0 0 rg BT 491.60 339.90 Td (liquidations ) Tj ET Q q 0 0 0 rg BT 546.62 339.90 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 326.70 Td (store ) Tj ET Q q 0 0 0 rg BT 128.39 326.70 Td (closures. ) Tj ET Q q 0 0 0 rg BT 170.44 326.70 Td (That ) Tj ET Q q 0 0 0 rg BT 194.10 326.70 Td (decline ) Tj ET Q q 0 0 0 rg BT 229.37 326.70 Td (was ) Tj ET Q q 0 0 0 rg BT 249.98 326.70 Td (partially ) Tj ET Q q 0 0 0 rg BT 290.14 326.70 Td (of) Tj ET Q q 0 0 0 rg BT 299.11 326.70 Td (fset ) Tj ET Q q 0 0 0 rg BT 318.50 326.70 Td (by ) Tj ET Q q 0 0 0 rg BT 333.01 326.70 Td (a ) Tj ET Q q 0 0 0 rg BT 341.40 326.70 Td (low-double-digit ) Tj ET Q q 0 0 0 rg BT 418.84 326.70 Td (percentage ) Tj ET Q q 0 0 0 rg BT 469.97 326.70 Td (increase ) Tj ET Q q 0 0 0 rg BT 509.51 326.70 Td (in ) Tj ET Q q 0 0 0 rg BT 521.57 326.70 Td (direct-to-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 313.50 Td (consumer ) Tj ET Q q 0 0 0 rg BT 148.80 313.50 Td (\(DTC\) ) Tj ET Q q 0 0 0 rg BT 180.67 313.50 Td (net ) Tj ET Q q 0 0 0 rg BT 196.64 313.50 Td (sales, ) Tj ET Q q 0 0 0 rg BT 223.31 313.50 Td (consisting ) Tj ET Q q 0 0 0 rg BT 270.46 313.50 Td (of ) Tj ET Q q 0 0 0 rg BT 282.17 313.50 Td (growth ) Tj ET Q q 0 0 0 rg BT 315.87 313.50 Td (in ) Tj ET Q q 0 0 0 rg BT 326.96 313.50 Td (our ) Tj ET Q q 0 0 0 rg BT 344.16 313.50 Td (brick ) Tj ET Q q 0 0 0 rg BT 369.30 313.50 Td (& ) Tj ET Q q 0 0 0 rg BT 380.40 313.50 Td (mortar ) Tj ET Q q 0 0 0 rg BT 412.25 313.50 Td (and ) Tj ET Q q 0 0 0 rg BT 430.68 313.50 Td (ecommerce ) Tj ET Q q 0 0 0 rg BT 483.90 313.50 Td (platforms. ) Tj ET Q q 0 0 0 rg BT 531.35 313.50 Td (During ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 300.30 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 120.31 300.30 Td (third) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 141.09 300.30 Td ( ) Tj ET Q q 0 0 0 rg BT 144.46 300.30 Td (quarter ) Tj ET Q q 0 0 0 rg BT 178.98 300.30 Td (of ) Tj ET Q q 0 0 0 rg BT 191.52 300.30 Td (2017, ) Tj ET Q q 0 0 0 rg BT 219.65 300.30 Td (the ) Tj ET Q q 0 0 0 rg BT 236.46 300.30 Td (company ) Tj ET Q q 0 0 0 rg BT 280.15 300.30 Td (operated ) Tj ET Q q 0 0 0 rg BT 321.40 300.30 Td (127 ) Tj ET Q q 0 0 0 rg BT 341.27 300.30 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 364.21 300.30 Td (retail ) Tj ET Q q 0 0 0 rg BT 390.18 300.30 Td (stores ) Tj ET Q q 0 0 0 rg BT 419.21 300.30 Td (and ) Tj ET Q q 0 0 0 rg BT 438.47 300.30 Td (4 ) Tj ET Q q 0 0 0 rg BT 447.35 300.30 Td (branded ) Tj ET Q q 0 0 0 rg BT 486.15 300.30 Td (ecommerce ) Tj ET Q q 0 0 0 rg BT 540.21 300.30 Td (sites, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 287.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 149.62 287.10 Td (with ) Tj ET Q q 0 0 0 rg BT 171.92 287.10 Td (1) Tj ET Q q 0 0 0 rg BT 177.01 287.10 Td (15 ) Tj ET Q q 0 0 0 rg BT 190.76 287.10 Td (stores ) Tj ET Q q 0 0 0 rg BT 219.18 287.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.81 287.10 Td (5 ) Tj ET Q q 0 0 0 rg BT 246.06 287.10 Td (branded ) Tj ET Q q 0 0 0 rg BT 284.24 287.10 Td (ecommerce ) Tj ET Q q 0 0 0 rg BT 337.67 287.10 Td (sites ) Tj ET Q q 0 0 0 rg BT 359.98 287.10 Td (in ) Tj ET Q q 0 0 0 rg BT 371.29 287.10 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 387.48 287.10 Td (third) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 408.25 287.10 Td ( ) Tj ET Q q 0 0 0 rg BT 411.00 287.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 444.90 287.10 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.81 287.10 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 478.81 287.10 Td (. ) Tj ET Q q 0 0 0 rg BT 484.31 287.10 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 273.90 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 273.90 Td (Net ) Tj ET Q q 0 0 0 rg BT 121.05 273.90 Td (sales ) Tj ET Q q 0 0 0 rg BT 144.10 273.90 Td (in ) Tj ET Q q 0 0 0 rg BT 154.32 273.90 Td (the ) Tj ET Q q 0 0 0 rg BT 169.43 273.90 Td (Latin ) Tj ET Q q 0 0 0 rg BT 193.94 273.90 Td (America/Asia ) Tj ET Q q 0 0 0 rg BT 256.69 273.90 Td (Pacific ) Tj ET Q q 0 0 0 rg BT 288.90 273.90 Td (\(LAAP\) ) Tj ET Q q 0 0 0 rg BT 326.61 273.90 Td (region ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 356.38 273.90 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 392.41 273.90 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 399.58 273.90 Td ($10.3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 424.33 273.90 Td ( ) Tj ET Q q 0 0 0 rg BT 425.99 273.90 Td (million, ) Tj ET Q q 0 0 0 rg BT 462.19 273.90 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.02 273.90 Td (9) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 478.52 273.90 Td ( ) Tj ET Q q 0 0 0 rg BT 480.19 273.90 Td (percent ) Tj ET Q q 0 0 0 rg BT 514.22 273.90 Td (\() Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 517.88 273.90 Td (1) Tj ET Q q 0 0 0 rg BT 522.98 273.90 Td (1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.48 273.90 Td ( ) Tj ET Q q 0 0 0 rg BT 530.14 273.90 Td (percent ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 260.70 Td (constant-currency\), ) Tj ET Q q 0 0 0 rg BT 193.13 260.70 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 206.12 260.70 Td ($123.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 236.37 260.70 Td ( ) Tj ET Q q 0 0 0 rg BT 240.80 260.70 Td (million, ) Tj ET Q q 0 0 0 rg BT 279.75 260.70 Td (consisting ) Tj ET Q q 0 0 0 rg BT 328.79 260.70 Td (of ) Tj ET Q q 0 0 0 rg BT 342.39 260.70 Td (a ) Tj ET Q q 0 0 0 rg BT 351.70 260.70 Td (low-30 ) Tj ET Q q 0 0 0 rg BT 387.29 260.70 Td (percent ) Tj ET Q q 0 0 0 rg BT 424.08 260.70 Td (increase ) Tj ET Q q 0 0 0 rg BT 464.54 260.70 Td (in ) Tj ET Q q 0 0 0 rg BT 477.52 260.70 Td (net ) Tj ET Q q 0 0 0 rg BT 495.39 260.70 Td (sales ) Tj ET Q q 0 0 0 rg BT 521.20 260.70 Td (to ) Tj ET Q q 0 0 0 rg BT 534.18 260.70 Td (LAAP) Tj ET Q q 0 0 0 rg BT 562.50 260.70 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 247.50 Td (distributors ) Tj ET Q q 0 0 0 rg BT 156.59 247.50 Td (due ) Tj ET Q q 0 0 0 rg BT 175.45 247.50 Td (to ) Tj ET Q q 0 0 0 rg BT 186.98 247.50 Td (a ) Tj ET Q q 0 0 0 rg BT 194.84 247.50 Td (shift ) Tj ET Q q 0 0 0 rg BT 217.37 247.50 Td (in ) Tj ET Q q 0 0 0 rg BT 228.90 247.50 Td (the ) Tj ET Q q 0 0 0 rg BT 245.31 247.50 Td (timing ) Tj ET Q q 0 0 0 rg BT 277.01 247.50 Td (of ) Tj ET Q q 0 0 0 rg BT 289.15 247.50 Td (shipments ) Tj ET Q q 0 0 0 rg BT 336.74 247.50 Td (of ) Tj ET Q q 0 0 0 rg BT 348.88 247.50 Td (increased ) Tj ET Q q 0 0 0 rg BT 393.38 247.50 Td (Fall ) Tj ET Q q 0 0 0 rg BT 413.47 247.50 Td (2017 ) Tj ET Q q 0 0 0 rg BT 438.45 247.50 Td (advance ) Tj ET Q q 0 0 0 rg BT 477.45 247.50 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 524.41 247.50 Td (orders, ) Tj ET Q q 0 0 0 rg BT 557.63 247.50 Td (a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 234.30 Td (high-single-digit ) Tj ET Q q 0 0 0 rg BT 179.88 234.30 Td (percentage ) Tj ET Q q 0 0 0 rg BT 230.56 234.30 Td (net ) Tj ET Q q 0 0 0 rg BT 247.05 234.30 Td (sales ) Tj ET Q q 0 0 0 rg BT 271.48 234.30 Td (increase ) Tj ET Q q 0 0 0 rg BT 310.56 234.30 Td (in ) Tj ET Q q 0 0 0 rg BT 322.17 234.30 Td (China, ) Tj ET Q q 0 0 0 rg BT 354.24 234.30 Td (and ) Tj ET Q q 0 0 0 rg BT 373.18 234.30 Td (a ) Tj ET Q q 0 0 0 rg BT 381.11 234.30 Td (mid-teen ) Tj ET Q q 0 0 0 rg BT 423.26 234.30 Td (percentage ) Tj ET Q q 0 0 0 rg BT 473.94 234.30 Td (net ) Tj ET Q q 0 0 0 rg BT 490.43 234.30 Td (sales ) Tj ET Q q 0 0 0 rg BT 514.86 234.30 Td (increase ) Tj ET Q q 0 0 0 rg BT 553.94 234.30 Td (in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 221.10 Td (Korea ) Tj ET Q q 0 0 0 rg BT 133.35 221.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 164.44 221.10 Td (by ) Tj ET Q q 0 0 0 rg BT 178.42 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.84 221.10 Td (opening ) Tj ET Q q 0 0 0 rg BT 233.25 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 245.40 221.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 292.37 221.10 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 339.33 221.10 Td (accounts, ) Tj ET Q q 0 0 0 rg BT 383.55 221.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 423.18 221.10 Td (of) Tj ET Q q 0 0 0 rg BT 432.15 221.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 451.01 221.10 Td (by ) Tj ET Q q 0 0 0 rg BT 464.99 221.10 Td (a ) Tj ET Q q 0 0 0 rg BT 472.85 221.10 Td (continued ) Tj ET Q q 0 0 0 rg BT 519.21 221.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 553.95 221.10 Td (in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 207.90 Td (Korea's ) Tj ET Q q 0 0 0 rg BT 140.10 207.90 Td (DTC ) Tj ET Q q 0 0 0 rg BT 165.56 207.90 Td (net ) Tj ET Q q 0 0 0 rg BT 182.47 207.90 Td (sales. ) Tj ET Q q 0 0 0 rg BT 209.81 207.90 Td (These ) Tj ET Q q 0 0 0 rg BT 239.54 207.90 Td (increases ) Tj ET Q q 0 0 0 rg BT 283.32 207.90 Td (were ) Tj ET Q q 0 0 0 rg BT 308.15 207.90 Td (partially ) Tj ET Q q 0 0 0 rg BT 348.27 207.90 Td (of) Tj ET Q q 0 0 0 rg BT 357.23 207.90 Td (fset ) Tj ET Q q 0 0 0 rg BT 376.58 207.90 Td (by ) Tj ET Q q 0 0 0 rg BT 391.04 207.90 Td (a ) Tj ET Q q 0 0 0 rg BT 399.39 207.90 Td (low-single-digit ) Tj ET Q q 0 0 0 rg BT 473.12 207.90 Td (percentage ) Tj ET Q q 0 0 0 rg BT 524.22 207.90 Td (net ) Tj ET Q q 0 0 0 rg BT 541.12 207.90 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 194.70 Td (decrease ) Tj ET Q q 0 0 0 rg BT 144.11 194.70 Td (in ) Tj ET Q q 0 0 0 rg BT 155.41 194.70 Td (Japan ) Tj ET Q q 0 0 0 rg BT 183.21 194.70 Td (\(mid-single-digit ) Tj ET Q q 0 0 0 rg BT 260.50 194.70 Td (percentage ) Tj ET Q q 0 0 0 rg BT 310.88 194.70 Td (increase ) Tj ET Q q 0 0 0 rg BT 349.66 194.70 Td (constant-currency\). ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 181.50 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 181.50 Td (Net ) Tj ET Q q 0 0 0 rg BT 122.84 181.50 Td (sales ) Tj ET Q q 0 0 0 rg BT 147.69 181.50 Td (in ) Tj ET Q q 0 0 0 rg BT 159.71 181.50 Td (the ) Tj ET Q q 0 0 0 rg BT 176.61 181.50 Td (Europe/Middle ) Tj ET Q q 0 0 0 rg BT 246.67 181.50 Td (East/Africa ) Tj ET Q q 0 0 0 rg BT 300.21 181.50 Td (\(EMEA\) ) Tj ET Q q 0 0 0 rg BT 342.16 181.50 Td (region ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 373.73 181.50 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 409.76 181.50 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.72 181.50 Td ($14.5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 443.47 181.50 Td ( ) Tj ET Q q 0 0 0 rg BT 446.93 181.50 Td (million, ) Tj ET Q q 0 0 0 rg BT 484.92 181.50 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 497.55 181.50 Td (20) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 508.55 181.50 Td ( ) Tj ET Q q 0 0 0 rg BT 512.01 181.50 Td (percent ) Tj ET Q q 0 0 0 rg BT 547.84 181.50 Td (\() Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 551.50 181.50 Td (15) Tj ET Q BT /F1 11.00 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 168.30 Td (percent ) Tj ET Q q 0 0 0 rg BT 138.15 168.30 Td (constant-currency\), ) Tj ET Q q 0 0 0 rg BT 225.64 168.30 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 236.48 168.30 Td ($87.5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 261.23 168.30 Td ( ) Tj ET Q q 0 0 0 rg BT 263.52 168.30 Td (million, ) Tj ET Q q 0 0 0 rg BT 300.33 168.30 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 344.76 168.30 Td (low-20 ) Tj ET Q q 0 0 0 rg BT 378.20 168.30 Td (percent ) Tj ET Q q 0 0 0 rg BT 412.85 168.30 Td (growth ) Tj ET Q q 0 0 0 rg BT 446.30 168.30 Td (in ) Tj ET Q q 0 0 0 rg BT 457.14 168.30 Td (our ) Tj ET Q q 0 0 0 rg BT 474.09 168.30 Td (European ) Tj ET Q q 0 0 0 rg BT 518.52 168.30 Td (wholesale ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 155.10 Td (and ) Tj ET Q q 0 0 0 rg BT 124.41 155.10 Td (direct-to-consumer ) Tj ET Q q 0 0 0 rg BT 213.13 155.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 264.61 155.10 Td (\(high-teen ) Tj ET Q q 0 0 0 rg BT 314.84 155.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 367.50 155.10 Td (constant-currency\), ) Tj ET Q q 0 0 0 rg BT 457.74 155.10 Td (and ) Tj ET Q q 0 0 0 rg BT 478.66 155.10 Td (a ) Tj ET Q q 0 0 0 rg BT 488.57 155.10 Td (low-double-digit ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 141.90 Td (percentage ) Tj ET Q q 0 0 0 rg BT 155.59 141.90 Td (increase ) Tj ET Q q 0 0 0 rg BT 196.07 141.90 Td (in ) Tj ET Q q 0 0 0 rg BT 209.08 141.90 Td (net ) Tj ET Q q 0 0 0 rg BT 226.98 141.90 Td (sales ) Tj ET Q q 0 0 0 rg BT 252.81 141.90 Td (to ) Tj ET Q q 0 0 0 rg BT 265.82 141.90 Td (EMEA) Tj ET Q q 0 0 0 rg BT 296.38 141.90 Td ( ) Tj ET Q q 0 0 0 rg BT 300.83 141.90 Td (distributors, ) Tj ET Q q 0 0 0 rg BT 358.15 141.90 Td (primarily ) Tj ET Q q 0 0 0 rg BT 403.54 141.90 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 450.14 141.90 Td (shipment ) Tj ET Q q 0 0 0 rg BT 494.92 141.90 Td (of ) Tj ET Q q 0 0 0 rg BT 508.54 141.90 Td (our ) Tj ET Q q 0 0 0 rg BT 527.66 141.90 Td (Russian ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 128.70 Td (distributor's ) Tj ET Q q 0 0 0 rg BT 158.34 128.70 Td (increased ) Tj ET Q q 0 0 0 rg BT 202.62 128.70 Td (Fall ) Tj ET Q q 0 0 0 rg BT 222.49 128.70 Td (2017 ) Tj ET Q q 0 0 0 rg BT 247.24 128.70 Td (advance ) Tj ET Q q 0 0 0 rg BT 286.02 128.70 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 332.75 128.70 Td (orders.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 115.50 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 115.50 Td (Net ) Tj ET Q q 0 0 0 rg BT 122.21 115.50 Td (sales ) Tj ET Q q 0 0 0 rg BT 146.42 115.50 Td (in ) Tj ET Q q 0 0 0 rg BT 157.80 115.50 Td (Canada ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 193.61 115.50 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 229.64 115.50 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 237.97 115.50 Td (8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 243.47 115.50 Td ( ) Tj ET Q q 0 0 0 rg BT 246.29 115.50 Td (percent ) Tj ET Q q 0 0 0 rg BT 281.49 115.50 Td (\() Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 285.15 115.50 Td (4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 290.65 115.50 Td ( ) Tj ET Q q 0 0 0 rg BT 293.48 115.50 Td (percent ) Tj ET Q q 0 0 0 rg BT 328.67 115.50 Td (constant-currency\) ) Tj ET Q q 0 0 0 rg BT 413.95 115.50 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 425.34 115.50 Td ($80.9) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 450.09 115.50 Td ( ) Tj ET Q q 0 0 0 rg BT 452.91 115.50 Td (million, ) Tj ET Q q 0 0 0 rg BT 490.27 115.50 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 535.24 115.50 Td (a ) Tj ET Q q 0 0 0 rg BT 542.95 115.50 Td (shift ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 102.30 Td (in ) Tj ET Q q 0 0 0 rg BT 114.81 102.30 Td (the ) Tj ET Q q 0 0 0 rg BT 130.99 102.30 Td (timing ) Tj ET Q q 0 0 0 rg BT 162.47 102.30 Td (of ) Tj ET Q q 0 0 0 rg BT 174.38 102.30 Td (shipments ) Tj ET Q q 0 0 0 rg BT 221.74 102.30 Td (of ) Tj ET Q q 0 0 0 rg BT 233.66 102.30 Td (increased ) Tj ET Q q 0 0 0 rg BT 277.94 102.30 Td (Fall ) Tj ET Q q 0 0 0 rg BT 297.80 102.30 Td (2017 ) Tj ET Q q 0 0 0 rg BT 322.55 102.30 Td (advance ) Tj ET Q q 0 0 0 rg BT 361.33 102.30 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 408.06 102.30 Td (orders.) Tj ET Q endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (3) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 71.5 746.93369140625 m 102.6630859375 746.93369140625 l s q 0 0 0 rg BT 71.50 748.40 Td (Brands) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 102.66 748.40 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 735.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 735.20 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 149.27 735.20 Td (brand ) Tj ET Q q 0 0 0 rg BT 176.69 735.20 Td (net ) Tj ET Q q 0 0 0 rg BT 192.51 735.20 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 216.28 735.20 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 252.31 735.20 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 260.19 735.20 Td ($1) Tj ET Q q 0 0 0 rg BT 270.78 735.20 Td (1.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 284.53 735.20 Td ( ) Tj ET Q q 0 0 0 rg BT 286.91 735.20 Td (million, ) Tj ET Q q 0 0 0 rg BT 323.82 735.20 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.37 735.20 Td (2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 340.87 735.20 Td ( ) Tj ET Q q 0 0 0 rg BT 343.25 735.20 Td (percent, ) Tj ET Q q 0 0 0 rg BT 380.74 735.20 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.68 735.20 Td ($598.3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.93 735.20 Td ( ) Tj ET Q q 0 0 0 rg BT 424.31 735.20 Td (million, ) Tj ET Q q 0 0 0 rg BT 461.22 735.20 Td (including ) Tj ET Q q 0 0 0 rg BT 505.15 735.20 Td (increased ) Tj ET Q q 0 0 0 rg BT 549.06 735.20 Td (net ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 722.00 Td (sales ) Tj ET Q q 0 0 0 rg BT 126.43 722.00 Td (in ) Tj ET Q q 0 0 0 rg BT 136.54 722.00 Td (the ) Tj ET Q q 0 0 0 rg BT 151.53 722.00 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 172.65 722.00 Td (DTC ) Tj ET Q q 0 0 0 rg BT 196.20 722.00 Td (business ) Tj ET Q q 0 0 0 rg BT 235.03 722.00 Td (and ) Tj ET Q q 0 0 0 rg BT 252.47 722.00 Td (in ) Tj ET Q q 0 0 0 rg BT 262.58 722.00 Td (the ) Tj ET Q q 0 0 0 rg BT 277.57 722.00 Td (EMEA) Tj ET Q q 0 0 0 rg BT 308.12 722.00 Td ( ) Tj ET Q q 0 0 0 rg BT 309.67 722.00 Td (and ) Tj ET Q q 0 0 0 rg BT 327.11 722.00 Td (LAAP) Tj ET Q q 0 0 0 rg BT 355.43 722.00 Td ( ) Tj ET Q q 0 0 0 rg BT 356.98 722.00 Td (regions, ) Tj ET Q q 0 0 0 rg BT 393.66 722.00 Td (partially ) Tj ET Q q 0 0 0 rg BT 431.87 722.00 Td (of) Tj ET Q q 0 0 0 rg BT 440.83 722.00 Td (fset ) Tj ET Q q 0 0 0 rg BT 458.27 722.00 Td (by ) Tj ET Q q 0 0 0 rg BT 470.82 722.00 Td (lower ) Tj ET Q q 0 0 0 rg BT 497.42 722.00 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 518.53 722.00 Td (wholesale ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 708.80 Td (net ) Tj ET Q q 0 0 0 rg BT 119.69 708.80 Td (sales. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 695.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 695.60 Td (SOREL) Tj ET Q q 0 0 0 rg BT 137.93 695.60 Td ( ) Tj ET Q q 0 0 0 rg BT 139.66 695.60 Td (brand ) Tj ET Q q 0 0 0 rg BT 166.44 695.60 Td (net ) Tj ET Q q 0 0 0 rg BT 181.61 695.60 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 204.72 695.60 Td (decrease) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 242.57 695.60 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 249.81 695.60 Td ($5.9) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 269.06 695.60 Td ( ) Tj ET Q q 0 0 0 rg BT 270.79 695.60 Td (million, ) Tj ET Q q 0 0 0 rg BT 307.05 695.60 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 317.94 695.60 Td (7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.44 695.60 Td ( ) Tj ET Q q 0 0 0 rg BT 325.17 695.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 359.27 695.60 Td (\() Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 362.93 695.60 Td (8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 368.43 695.60 Td ( ) Tj ET Q q 0 0 0 rg BT 370.16 695.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 404.26 695.60 Td (constant-currency\), ) Tj ET Q q 0 0 0 rg BT 491.20 695.60 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 501.49 695.60 Td ($81.7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 526.24 695.60 Td ( ) Tj ET Q q 0 0 0 rg BT 527.97 695.60 Td (million, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 682.40 Td (due ) Tj ET Q q 0 0 0 rg BT 122.03 682.40 Td (to ) Tj ET Q q 0 0 0 rg BT 133.23 682.40 Td (a ) Tj ET Q q 0 0 0 rg BT 140.76 682.40 Td (shift ) Tj ET Q q 0 0 0 rg BT 162.96 682.40 Td (in ) Tj ET Q q 0 0 0 rg BT 174.16 682.40 Td (the ) Tj ET Q q 0 0 0 rg BT 190.24 682.40 Td (timing ) Tj ET Q q 0 0 0 rg BT 221.61 682.40 Td (of ) Tj ET Q q 0 0 0 rg BT 233.42 682.40 Td (shipments ) Tj ET Q q 0 0 0 rg BT 280.68 682.40 Td (of ) Tj ET Q q 0 0 0 rg BT 292.49 682.40 Td (slightly ) Tj ET Q q 0 0 0 rg BT 328.14 682.40 Td (lower ) Tj ET Q q 0 0 0 rg BT 355.83 682.40 Td (Fall ) Tj ET Q q 0 0 0 rg BT 375.59 682.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 400.23 682.40 Td (advance ) Tj ET Q q 0 0 0 rg BT 438.91 682.40 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 485.54 682.40 Td (orders ) Tj ET Q q 0 0 0 rg BT 515.67 682.40 Td (in ) Tj ET Q q 0 0 0 rg BT 526.88 682.40 Td (the ) Tj ET Q q 0 0 0 rg BT 542.96 682.40 Td (U.S. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 669.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 669.20 Td (prAna ) Tj ET Q q 0 0 0 rg BT 133.30 669.20 Td (brand ) Tj ET Q q 0 0 0 rg BT 160.66 669.20 Td (net ) Tj ET Q q 0 0 0 rg BT 176.41 669.20 Td (sales ) Tj ET Q q 0 0 0 rg BT 200.11 669.20 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.58 669.20 Td ($36.8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 236.33 669.20 Td ( ) Tj ET Q q 0 0 0 rg BT 238.64 669.20 Td (million ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 272.74 669.20 Td (decrease) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 310.59 669.20 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 318.40 669.20 Td ($1.3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 337.65 669.20 Td ( ) Tj ET Q q 0 0 0 rg BT 339.97 669.20 Td (million, ) Tj ET Q q 0 0 0 rg BT 376.81 669.20 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 388.29 669.20 Td (3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 393.79 669.20 Td ( ) Tj ET Q q 0 0 0 rg BT 396.10 669.20 Td (percent, ) Tj ET Q q 0 0 0 rg BT 433.53 669.20 Td (primarily ) Tj ET Q q 0 0 0 rg BT 476.77 669.20 Td (due ) Tj ET Q q 0 0 0 rg BT 494.97 669.20 Td (to ) Tj ET Q q 0 0 0 rg BT 505.84 669.20 Td (reduced ) Tj ET Q q 0 0 0 rg BT 542.96 669.20 Td (U.S. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 656.00 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 150.23 656.00 Td (net ) Tj ET Q q 0 0 0 rg BT 166.42 656.00 Td (sales.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 642.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 642.80 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 149.04 642.80 Td (Hardwear ) Tj ET Q q 0 0 0 rg BT 195.16 642.80 Td (brand ) Tj ET Q q 0 0 0 rg BT 222.97 642.80 Td (net ) Tj ET Q q 0 0 0 rg BT 239.17 642.80 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.31 642.80 Td (decrease) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.17 642.80 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 309.43 642.80 Td ($1.1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 328.68 642.80 Td ( ) Tj ET Q q 0 0 0 rg BT 331.44 642.80 Td (million, ) Tj ET Q q 0 0 0 rg BT 368.74 642.80 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 380.66 642.80 Td (4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 386.16 642.80 Td ( ) Tj ET Q q 0 0 0 rg BT 388.92 642.80 Td (percent, ) Tj ET Q q 0 0 0 rg BT 426.80 642.80 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 438.12 642.80 Td ($29.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.87 642.80 Td ( ) Tj ET Q q 0 0 0 rg BT 465.63 642.80 Td (million, ) Tj ET Q q 0 0 0 rg BT 502.93 642.80 Td (due ) Tj ET Q q 0 0 0 rg BT 521.57 642.80 Td (primarily ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 629.60 Td (to ) Tj ET Q q 0 0 0 rg BT 114.81 629.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 142.60 629.60 Td (net ) Tj ET Q q 0 0 0 rg BT 158.79 629.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 182.92 629.60 Td (in ) Tj ET Q q 0 0 0 rg BT 194.23 629.60 Td (the ) Tj ET Q q 0 0 0 rg BT 210.42 629.60 Td (U.S.) Tj ET Q BT /F1 11.00 Tf ET 0 0 0 RG /GS0 gs 0.54 w 0 i [] 0 d 1 J 1 j 3 M 71.5 602.93369140625 m 155.50927734375 602.93369140625 l s q 0 0 0 rg BT 71.50 604.40 Td (Product ) Tj ET Q q 0 0 0 rg BT 108.47 604.40 Td (Categories) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 591.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 591.20 Td (Global ) Tj ET Q q 0 0 0 rg BT 136.10 591.20 Td (Apparel, ) Tj ET Q q 0 0 0 rg BT 176.95 591.20 Td (Accessories ) Tj ET Q q 0 0 0 rg BT 232.91 591.20 Td (and ) Tj ET Q q 0 0 0 rg BT 252.21 591.20 Td (Equipment ) Tj ET Q q 0 0 0 rg BT 303.90 591.20 Td (net ) Tj ET Q q 0 0 0 rg BT 320.76 591.20 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 345.56 591.20 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 381.59 591.20 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 390.51 591.20 Td (1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 396.01 591.20 Td ( ) Tj ET Q q 0 0 0 rg BT 399.44 591.20 Td (percent, ) Tj ET Q q 0 0 0 rg BT 437.97 591.20 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.95 591.20 Td ($580.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 480.20 591.20 Td ( ) Tj ET Q q 0 0 0 rg BT 483.62 591.20 Td (million, ) Tj ET Q q 0 0 0 rg BT 521.57 591.20 Td (primarily ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 578.00 Td (driven ) Tj ET Q q 0 0 0 rg BT 134.35 578.00 Td (by ) Tj ET Q q 0 0 0 rg BT 148.10 578.00 Td (increased ) Tj ET Q q 0 0 0 rg BT 192.38 578.00 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 238.52 578.00 Td (brand ) Tj ET Q q 0 0 0 rg BT 266.31 578.00 Td (net ) Tj ET Q q 0 0 0 rg BT 282.50 578.00 Td (sales.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 564.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 564.80 Td (Global ) Tj ET Q q 0 0 0 rg BT 136.79 564.80 Td (Footwear ) Tj ET Q q 0 0 0 rg BT 181.69 564.80 Td (net ) Tj ET Q q 0 0 0 rg BT 198.49 564.80 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 223.22 564.80 Td (decrease) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 261.08 564.80 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 269.93 564.80 Td (2) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 275.43 564.80 Td ( ) Tj ET Q q 0 0 0 rg BT 278.79 564.80 Td (percent ) Tj ET Q q 0 0 0 rg BT 314.51 564.80 Td (\() Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 318.17 564.80 Td (3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.67 564.80 Td ( ) Tj ET Q q 0 0 0 rg BT 327.03 564.80 Td (percent ) Tj ET Q q 0 0 0 rg BT 362.75 564.80 Td (constant-currency\), ) Tj ET Q q 0 0 0 rg BT 451.31 564.80 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 463.22 564.80 Td ($167.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 493.47 564.80 Td ( ) Tj ET Q q 0 0 0 rg BT 496.82 564.80 Td (million, ) Tj ET Q q 0 0 0 rg BT 534.71 564.80 Td (due ) Tj ET Q q 0 0 0 rg BT 553.94 564.80 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 551.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 131.30 551.60 Td (SOREL) Tj ET Q q 0 0 0 rg BT 165.72 551.60 Td ( ) Tj ET Q q 0 0 0 rg BT 168.47 551.60 Td (brand ) Tj ET Q q 0 0 0 rg BT 196.27 551.60 Td (net ) Tj ET Q q 0 0 0 rg BT 212.46 551.60 Td (sales, ) Tj ET Q q 0 0 0 rg BT 239.34 551.60 Td (partially ) Tj ET Q q 0 0 0 rg BT 278.74 551.60 Td (of) Tj ET Q q 0 0 0 rg BT 287.71 551.60 Td (fset ) Tj ET Q q 0 0 0 rg BT 306.34 551.60 Td (by ) Tj ET Q q 0 0 0 rg BT 320.09 551.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 364.37 551.60 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 410.51 551.60 Td (brand ) Tj ET Q q 0 0 0 rg BT 438.30 551.60 Td (net ) Tj ET Q q 0 0 0 rg BT 454.49 551.60 Td (sales.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 526.40 Td (Gr) Tj ET Q q 0 0 0 rg BT 62.74 526.40 Td (oss Margin) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 513.20 Td (Gross ) Tj ET Q q 0 0 0 rg BT 77.92 513.20 Td (mar) Tj ET Q q 0 0 0 rg BT 94.82 513.20 Td (gin ) Tj ET Q q 0 0 0 rg BT 111.63 513.20 Td (expanded ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 156.52 513.20 Td (30) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 167.52 513.20 Td ( ) Tj ET Q q 0 0 0 rg BT 170.27 513.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 195.02 513.20 Td (points ) Tj ET Q q 0 0 0 rg BT 224.67 513.20 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 235.97 513.20 Td (46.7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 255.22 513.20 Td ( ) Tj ET Q q 0 0 0 rg BT 257.97 513.20 Td (percent ) Tj ET Q q 0 0 0 rg BT 293.09 513.20 Td (of ) Tj ET Q q 0 0 0 rg BT 305.00 513.20 Td (net ) Tj ET Q q 0 0 0 rg BT 321.19 513.20 Td (sales, ) Tj ET Q q 0 0 0 rg BT 348.07 513.20 Td (reflecting:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.50 500.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.50 500.00 Td (a ) Tj ET Q q 0 0 0 rg BT 94.13 500.00 Td (favorable ) Tj ET Q q 0 0 0 rg BT 138.41 500.00 Td (sourcing ) Tj ET Q q 0 0 0 rg BT 179.04 500.00 Td (environment ) Tj ET Q q 0 0 0 rg BT 237.39 500.00 Td (for ) Tj ET Q q 0 0 0 rg BT 252.97 500.00 Td (Fall ) Tj ET Q q 0 0 0 rg BT 272.83 500.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 297.58 500.00 Td (production; ) Tj ET Q q 0 0 0 rg BT 351.04 500.00 Td (and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.50 486.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 86.50 486.80 Td (favorable ) Tj ET Q q 0 0 0 rg BT 130.78 486.80 Td (foreign ) Tj ET Q q 0 0 0 rg BT 165.29 486.80 Td (currency ) Tj ET Q q 0 0 0 rg BT 206.52 486.80 Td (hedge ) Tj ET Q q 0 0 0 rg BT 235.53 486.80 Td (rates ) Tj ET Q q 0 0 0 rg BT 259.05 486.80 Td (in ) Tj ET Q q 0 0 0 rg BT 270.35 486.80 Td (Japan, ) Tj ET Q q 0 0 0 rg BT 300.90 486.80 Td (Canada ) Tj ET Q q 0 0 0 rg BT 336.63 486.80 Td (and ) Tj ET Q q 0 0 0 rg BT 355.26 486.80 Td (Europe;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 473.60 Td (partially of) Tj ET Q q 0 0 0 rg BT 97.87 473.60 Td (fset by:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 460.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 460.40 Td (a higher proportion of net sales to international distributors, which generally carry lower gross mar) Tj ET Q q 0 0 0 rg BT 519.98 460.40 Td (gins.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 434.00 Td (Selling, General and ) Tj ET Q q 0 0 0 rg BT 147.29 434.00 Td (Administrative \(SG&A\) Expense ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 420.80 Td (SG&A) Tj ET Q q 0 0 0 rg BT 79.45 420.80 Td ( ) Tj ET Q q 0 0 0 rg BT 83.41 420.80 Td (expense ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 122.80 420.80 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 158.83 420.80 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.29 420.80 Td ($5.9 ) Tj ET Q q 0 0 0 rg BT 191.50 420.80 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 223.28 420.80 Td (, ) Tj ET Q q 0 0 0 rg BT 229.99 420.80 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 243.12 420.80 Td (3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 248.62 420.80 Td ( ) Tj ET Q q 0 0 0 rg BT 252.58 420.80 Td (percent, ) Tj ET Q q 0 0 0 rg BT 291.65 420.80 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 304.17 420.80 Td ($230.4 ) Tj ET Q q 0 0 0 rg BT 338.38 420.80 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.16 420.80 Td (, ) Tj ET Q q 0 0 0 rg BT 376.87 420.80 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 389.99 420.80 Td (30.8) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 409.24 420.80 Td ( ) Tj ET Q q 0 0 0 rg BT 413.20 420.80 Td (percent ) Tj ET Q q 0 0 0 rg BT 449.53 420.80 Td (of ) Tj ET Q q 0 0 0 rg BT 462.65 420.80 Td (net ) Tj ET Q q 0 0 0 rg BT 480.05 420.80 Td (sales, ) Tj ET Q q 0 0 0 rg BT 508.14 420.80 Td (representing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 407.60 Td (approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 115.78 407.60 Td (70) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 126.78 407.60 Td ( ) Tj ET Q q 0 0 0 rg BT 129.53 407.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 154.28 407.60 Td (points ) Tj ET Q q 0 0 0 rg BT 183.93 407.60 Td (of ) Tj ET Q q 0 0 0 rg BT 195.84 407.60 Td (SG&A) Tj ET Q q 0 0 0 rg BT 225.80 407.60 Td ( ) Tj ET Q q 0 0 0 rg BT 228.55 407.60 Td (expense ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 266.72 407.60 Td (deleverage) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 314.35 407.60 Td (. ) Tj ET Q q 0 0 0 rg BT 319.66 407.60 Td (The ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 339.51 407.60 Td (increase) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 375.54 407.60 Td (d ) Tj ET Q q 0 0 0 rg BT 383.79 407.60 Td (SG&A) Tj ET Q q 0 0 0 rg BT 413.74 407.60 Td ( ) Tj ET Q q 0 0 0 rg BT 416.49 407.60 Td (expense ) Tj ET Q q 0 0 0 rg BT 454.67 407.60 Td (included:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 394.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 394.40 Td (increased ) Tj ET Q q 0 0 0 rg BT 129.78 394.40 Td (costs ) Tj ET Q q 0 0 0 rg BT 154.53 394.40 Td (to ) Tj ET Q q 0 0 0 rg BT 165.84 394.40 Td (support ) Tj ET Q q 0 0 0 rg BT 201.59 394.40 Td (the ) Tj ET Q q 0 0 0 rg BT 217.77 394.40 Td (company's ) Tj ET Q q 0 0 0 rg BT 267.11 394.40 Td (expanding ) Tj ET Q q 0 0 0 rg BT 315.68 394.40 Td (global ) Tj ET Q q 0 0 0 rg BT 345.92 394.40 Td (DTC ) Tj ET Q q 0 0 0 rg BT 370.67 394.40 Td (businesses; ) Tj ET Q q 0 0 0 rg BT 422.92 394.40 Td (and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 381.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 381.20 Td (program ) Tj ET Q q 0 0 0 rg BT 125.51 381.20 Td (expenses ) Tj ET Q q 0 0 0 rg BT 167.97 381.20 Td (and ) Tj ET Q q 0 0 0 rg BT 186.61 381.20 Td (discrete ) Tj ET Q q 0 0 0 rg BT 223.56 381.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 248.31 381.20 Td (related ) Tj ET Q q 0 0 0 rg BT 280.98 381.20 Td (to ) Tj ET Q q 0 0 0 rg BT 292.29 381.20 Td (Project ) Tj ET Q q 0 0 0 rg BT 326.19 381.20 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 377.53 381.20 Td (; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 368.00 Td (partially of) Tj ET Q q 0 0 0 rg BT 97.87 368.00 Td (fset by:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 354.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 354.80 Td (a ) Tj ET Q q 0 0 0 rg BT 93.13 354.80 Td (shift ) Tj ET Q q 0 0 0 rg BT 115.44 354.80 Td (in ) Tj ET Q q 0 0 0 rg BT 126.74 354.80 Td (the ) Tj ET Q q 0 0 0 rg BT 142.93 354.80 Td (timing ) Tj ET Q q 0 0 0 rg BT 174.41 354.80 Td (of ) Tj ET Q q 0 0 0 rg BT 186.32 354.80 Td (demand-creation ) Tj ET Q q 0 0 0 rg BT 262.98 354.80 Td (spending ) Tj ET Q q 0 0 0 rg BT 305.45 354.80 Td (from ) Tj ET Q q 0 0 0 rg BT 329.58 354.80 Td (the ) Tj ET Q q 0 0 0 rg BT 345.77 354.80 Td (third ) Tj ET Q q 0 0 0 rg BT 369.29 354.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 403.19 354.80 Td (into ) Tj ET Q q 0 0 0 rg BT 423.05 354.80 Td (the ) Tj ET Q q 0 0 0 rg BT 439.24 354.80 Td (fourth ) Tj ET Q q 0 0 0 rg BT 468.87 354.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 502.77 354.80 Td (of ) Tj ET Q q 0 0 0 rg BT 514.68 354.80 Td (2017.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 329.60 Td (Operating ) Tj ET Q q 0 0 0 rg BT 100.53 329.60 Td (Income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 316.40 Td (Operating ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 95.92 316.40 Td (income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 128.29 316.40 Td ( ) Tj ET Q q 0 0 0 rg BT 130.73 316.40 Td (totaled ) Tj ET Q q 0 0 0 rg BT 163.09 316.40 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 168.59 316.40 Td (122.9 ) Tj ET Q q 0 0 0 rg BT 195.78 316.40 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 227.56 316.40 Td (, ) Tj ET Q q 0 0 0 rg BT 232.74 316.40 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.34 316.40 Td (16.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.59 316.40 Td ( ) Tj ET Q q 0 0 0 rg BT 266.02 316.40 Td (percent ) Tj ET Q q 0 0 0 rg BT 300.82 316.40 Td (of ) Tj ET Q q 0 0 0 rg BT 312.42 316.40 Td (net ) Tj ET Q q 0 0 0 rg BT 328.29 316.40 Td (sales, ) Tj ET Q q 0 0 0 rg BT 354.85 316.40 Td (including ) Tj ET Q q 0 0 0 rg BT 398.84 316.40 Td (project ) Tj ET Q q 0 0 0 rg BT 431.81 316.40 Td (expenses ) Tj ET Q q 0 0 0 rg BT 473.95 316.40 Td (and ) Tj ET Q q 0 0 0 rg BT 492.27 316.40 Td (discrete ) Tj ET Q q 0 0 0 rg BT 528.90 316.40 Td (costs ) Tj ET Q q 0 0 0 rg BT 553.34 316.40 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 303.20 Td (approximately ) Tj ET Q q 0 0 0 rg BT 114.69 303.20 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 120.19 303.20 Td (3.3) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 133.94 303.20 Td ( ) Tj ET Q q 0 0 0 rg BT 135.59 303.20 Td (million ) Tj ET Q q 0 0 0 rg BT 169.02 303.20 Td (related ) Tj ET Q q 0 0 0 rg BT 200.59 303.20 Td (to ) Tj ET Q q 0 0 0 rg BT 210.80 303.20 Td (Project ) Tj ET Q q 0 0 0 rg BT 243.60 303.20 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 294.73 303.20 Td (, ) Tj ET Q q 0 0 0 rg BT 299.13 303.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 344.15 303.20 Td (with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 365.35 303.20 Td (third) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 386.13 303.20 Td ( ) Tj ET Q q 0 0 0 rg BT 387.78 303.20 Td (quarter ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 420.58 303.20 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 442.58 303.20 Td ( ) Tj ET Q q 0 0 0 rg BT 444.23 303.20 Td (operating ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 487.42 303.20 Td (income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 519.80 303.20 Td ( ) Tj ET Q q 0 0 0 rg BT 521.45 303.20 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.26 303.20 Td ($123.6 ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 290.00 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 81.28 290.00 Td (, ) Tj ET Q q 0 0 0 rg BT 86.78 290.00 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 98.69 290.00 Td (16.6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 117.94 290.00 Td ( ) Tj ET Q q 0 0 0 rg BT 120.69 290.00 Td (percent ) Tj ET Q q 0 0 0 rg BT 155.81 290.00 Td (of ) Tj ET Q q 0 0 0 rg BT 167.72 290.00 Td (net ) Tj ET Q q 0 0 0 rg BT 183.91 290.00 Td (sales. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 263.60 Td (Income ) Tj ET Q q 0 0 0 rg BT 86.88 263.60 Td (T) Tj ET Q q 0 0 0 rg BT 93.20 263.60 Td (ax ) Tj ET Q q 0 0 0 rg BT 106.95 263.60 Td (Expense) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 250.40 Td (The ) Tj ET Q q 0 0 0 rg BT 69.94 250.40 Td (ef) Tj ET Q q 0 0 0 rg BT 78.29 250.40 Td (fective ) Tj ET Q q 0 0 0 rg BT 111.54 250.40 Td (tax ) Tj ET Q q 0 0 0 rg BT 128.32 250.40 Td (rate ) Tj ET Q q 0 0 0 rg BT 148.14 250.40 Td (for ) Tj ET Q q 0 0 0 rg BT 164.30 250.40 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 181.08 250.40 Td (third) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 201.85 250.40 Td ( ) Tj ET Q q 0 0 0 rg BT 205.19 250.40 Td (quarter ) Tj ET Q q 0 0 0 rg BT 239.68 250.40 Td (was ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 260.12 250.40 Td (26.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 279.37 250.40 Td ( ) Tj ET Q q 0 0 0 rg BT 282.71 250.40 Td (percent, ) Tj ET Q q 0 0 0 rg BT 321.16 250.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 367.86 250.40 Td (to ) Tj ET Q q 0 0 0 rg BT 379.76 250.40 Td (a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 387.97 250.40 Td (29.7) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 407.22 250.40 Td ( ) Tj ET Q q 0 0 0 rg BT 410.56 250.40 Td (percent ) Tj ET Q q 0 0 0 rg BT 446.26 250.40 Td (rate ) Tj ET Q q 0 0 0 rg BT 466.09 250.40 Td (in ) Tj ET Q q 0 0 0 rg BT 477.98 250.40 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 494.75 250.40 Td (third) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 515.53 250.40 Td ( ) Tj ET Q q 0 0 0 rg BT 518.87 250.40 Td (quarter ) Tj ET Q q 0 0 0 rg BT 553.35 250.40 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 237.20 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.50 237.20 Td (, ) Tj ET Q q 0 0 0 rg BT 77.00 237.20 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 121.89 237.20 Td (a ) Tj ET Q q 0 0 0 rg BT 129.52 237.20 Td (favorable ) Tj ET Q q 0 0 0 rg BT 173.80 237.20 Td (shift ) Tj ET Q q 0 0 0 rg BT 196.11 237.20 Td (in ) Tj ET Q q 0 0 0 rg BT 207.42 237.20 Td (the ) Tj ET Q q 0 0 0 rg BT 223.60 237.20 Td (geographic ) Tj ET Q q 0 0 0 rg BT 275.22 237.20 Td (mix ) Tj ET Q q 0 0 0 rg BT 295.08 237.20 Td (of ) Tj ET Q q 0 0 0 rg BT 307.00 237.20 Td (taxable ) Tj ET Q q 0 0 0 rg BT 341.50 237.20 Td (income.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 212.00 Td (Net ) Tj ET Q q 0 0 0 rg BT 68.74 212.00 Td (Income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 198.80 Td (Net ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.39 198.80 Td (income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 100.77 198.80 Td ( ) Tj ET Q q 0 0 0 rg BT 103.78 198.80 Td (increased ) Tj ET Q q 0 0 0 rg BT 148.32 198.80 Td (5 ) Tj ET Q q 0 0 0 rg BT 156.83 198.80 Td (percent ) Tj ET Q q 0 0 0 rg BT 192.20 198.80 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 203.77 198.80 Td ($87.7 ) Tj ET Q q 0 0 0 rg BT 231.53 198.80 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 263.31 198.80 Td (, ) Tj ET Q q 0 0 0 rg BT 269.07 198.80 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.24 198.80 Td ($1.25) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 305.99 198.80 Td ( ) Tj ET Q q 0 0 0 rg BT 309.00 198.80 Td (per ) Tj ET Q q 0 0 0 rg BT 326.05 198.80 Td (diluted ) Tj ET Q q 0 0 0 rg BT 359.61 198.80 Td (share, ) Tj ET Q q 0 0 0 rg BT 388.58 198.80 Td (including ) Tj ET Q q 0 0 0 rg BT 433.14 198.80 Td (project ) Tj ET Q q 0 0 0 rg BT 466.69 198.80 Td (expenses ) Tj ET Q q 0 0 0 rg BT 509.41 198.80 Td (and ) Tj ET Q q 0 0 0 rg BT 528.30 198.80 Td (discrete ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 185.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 74.86 185.60 Td (of ) Tj ET Q q 0 0 0 rg BT 87.38 185.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 154.28 185.60 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 159.78 185.60 Td (2.1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 173.53 185.60 Td ( ) Tj ET Q q 0 0 0 rg BT 176.89 185.60 Td (million ) Tj ET Q q 0 0 0 rg BT 212.03 185.60 Td (net ) Tj ET Q q 0 0 0 rg BT 228.83 185.60 Td (of ) Tj ET Q q 0 0 0 rg BT 241.36 185.60 Td (tax, ) Tj ET Q q 0 0 0 rg BT 260.91 185.60 Td (or ) Tj ET Q q 0 0 0 rg BT 273.43 185.60 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.93 185.60 Td (0.03) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 298.18 185.60 Td ( ) Tj ET Q q 0 0 0 rg BT 301.54 185.60 Td (per ) Tj ET Q q 0 0 0 rg BT 318.95 185.60 Td (diluted ) Tj ET Q q 0 0 0 rg BT 352.86 185.60 Td (share, ) Tj ET Q q 0 0 0 rg BT 382.18 185.60 Td (related ) Tj ET Q q 0 0 0 rg BT 415.46 185.60 Td (to ) Tj ET Q q 0 0 0 rg BT 427.38 185.60 Td (Project ) Tj ET Q q 0 0 0 rg BT 461.90 185.60 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 513.02 185.60 Td (, ) Tj ET Q q 0 0 0 rg BT 519.13 185.60 Td (compared ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 172.40 Td (with ) Tj ET Q q 0 0 0 rg BT 71.81 172.40 Td (net ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 87.99 172.40 Td (income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 120.37 172.40 Td ( ) Tj ET Q q 0 0 0 rg BT 123.12 172.40 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 135.03 172.40 Td ($83.6 ) Tj ET Q q 0 0 0 rg BT 162.53 172.40 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 194.32 172.40 Td (, ) Tj ET Q q 0 0 0 rg BT 199.82 172.40 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.73 172.40 Td ($1.18) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 236.48 172.40 Td ( ) Tj ET Q q 0 0 0 rg BT 239.23 172.40 Td (per ) Tj ET Q q 0 0 0 rg BT 256.02 172.40 Td (diluted ) Tj ET Q q 0 0 0 rg BT 289.32 172.40 Td (share, ) Tj ET Q q 0 0 0 rg BT 318.03 172.40 Td (in ) Tj ET Q q 0 0 0 rg BT 329.34 172.40 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 345.53 172.40 Td (third) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 366.30 172.40 Td ( ) Tj ET Q q 0 0 0 rg BT 369.05 172.40 Td (quarter ) Tj ET Q q 0 0 0 rg BT 402.95 172.40 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 414.86 172.40 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 436.86 172.40 Td (.) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 49.5 144.278564453125 m 115.1884765625 144.278564453125 l s q 0 0 0 rg BT 49.50 146.00 Td (Balance Sheet) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 132.80 Td (At ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 65.02 132.80 Td (September30, ) Tj ET Q q 0 0 0 rg BT 133.08 132.80 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 155.08 132.80 Td (, ) Tj ET Q q 0 0 0 rg BT 162.36 132.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 186.42 132.80 Td (and ) Tj ET Q q 0 0 0 rg BT 206.83 132.80 Td (short-term ) Tj ET Q q 0 0 0 rg BT 257.17 132.80 Td (investments ) Tj ET Q q 0 0 0 rg BT 314.24 132.80 Td (totaled ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.70 132.80 Td ($430.3 ) Tj ET Q q 0 0 0 rg BT 383.47 132.80 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 415.25 132.80 Td (, ) Tj ET Q q 0 0 0 rg BT 422.52 132.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 470.41 132.80 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 483.49 132.80 Td ($219.7 ) Tj ET Q q 0 0 0 rg BT 518.26 132.80 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 550.04 132.80 Td ( ) Tj ET Q q 0 0 0 rg BT 554.56 132.80 Td (at ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 119.60 Td (September30, ) Tj ET Q q 0 0 0 rg BT 115.60 119.60 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 137.60 119.60 Td (. ) Tj ET Q q 0 0 0 rg BT 142.34 119.60 Td (At ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 155.90 119.60 Td (September30, ) Tj ET Q q 0 0 0 rg BT 222.00 119.60 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.00 119.60 Td (, ) Tj ET Q q 0 0 0 rg BT 249.31 119.60 Td (approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 315.40 119.60 Td (68) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 326.40 119.60 Td ( ) Tj ET Q q 0 0 0 rg BT 328.96 119.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 363.88 119.60 Td (of ) Tj ET Q q 0 0 0 rg BT 375.60 119.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 397.71 119.60 Td (and ) Tj ET Q q 0 0 0 rg BT 416.15 119.60 Td (short-term ) Tj ET Q q 0 0 0 rg BT 464.53 119.60 Td (investments ) Tj ET Q q 0 0 0 rg BT 519.63 119.60 Td (were ) Tj ET Q q 0 0 0 rg BT 543.56 119.60 Td (held ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 106.40 Td (in ) Tj ET Q q 0 0 0 rg BT 60.71 106.40 Td (foreign ) Tj ET Q q 0 0 0 rg BT 95.14 106.40 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 152.18 106.40 Td (where ) Tj ET Q q 0 0 0 rg BT 181.71 106.40 Td (a ) Tj ET Q q 0 0 0 rg BT 189.26 106.40 Td (repatriation ) Tj ET Q q 0 0 0 rg BT 242.61 106.40 Td (of ) Tj ET Q q 0 0 0 rg BT 254.43 106.40 Td (those ) Tj ET Q q 0 0 0 rg BT 280.31 106.40 Td (funds ) Tj ET Q q 0 0 0 rg BT 307.41 106.40 Td (to ) Tj ET Q q 0 0 0 rg BT 318.63 106.40 Td (the ) Tj ET Q q 0 0 0 rg BT 334.73 106.40 Td (United ) Tj ET Q q 0 0 0 rg BT 367.32 106.40 Td (States ) Tj ET Q q 0 0 0 rg BT 396.26 106.40 Td (would ) Tj ET Q q 0 0 0 rg BT 426.42 106.40 Td (likely ) Tj ET Q q 0 0 0 rg BT 454.13 106.40 Td (result ) Tj ET Q q 0 0 0 rg BT 481.22 106.40 Td (in ) Tj ET Q q 0 0 0 rg BT 492.44 106.40 Td (a ) Tj ET Q q 0 0 0 rg BT 499.98 106.40 Td (significant ) Tj ET Q q 0 0 0 rg BT 549.07 106.40 Td (tax ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 93.20 Td (cost ) Tj ET Q q 0 0 0 rg BT 69.97 93.20 Td (to ) Tj ET Q q 0 0 0 rg BT 81.28 93.20 Td (the ) Tj ET Q q 0 0 0 rg BT 97.46 93.20 Td (company) Tj ET Q q 0 0 0 rg BT 137.07 93.20 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 80.00 Td ( ) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 748.40 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 110.02 748.40 Td (inventories ) Tj ET Q q 0 0 0 rg BT 161.37 748.40 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 173.00 748.40 Td ($558.6 ) Tj ET Q q 0 0 0 rg BT 205.72 748.40 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 237.50 748.40 Td ( ) Tj ET Q q 0 0 0 rg BT 239.98 748.40 Td (at ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 250.38 748.40 Td (September30, ) Tj ET Q q 0 0 0 rg BT 316.40 748.40 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 338.40 748.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 340.87 748.40 Td (decrease) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 378.72 748.40 Td (d ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 386.69 748.40 Td ($29.5 ) Tj ET Q q 0 0 0 rg BT 413.91 748.40 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 445.69 748.40 Td (, ) Tj ET Q q 0 0 0 rg BT 450.91 748.40 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 462.55 748.40 Td (5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.05 748.40 Td ( ) Tj ET Q q 0 0 0 rg BT 470.52 748.40 Td (percent, ) Tj ET Q q 0 0 0 rg BT 508.11 748.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 553.94 748.40 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 735.20 Td (September30, ) Tj ET Q q 0 0 0 rg BT 115.78 735.20 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 137.78 735.20 Td (, ) Tj ET Q q 0 0 0 rg BT 143.26 735.20 Td (primarily ) Tj ET Q q 0 0 0 rg BT 186.93 735.20 Td (driven ) Tj ET Q q 0 0 0 rg BT 217.77 735.20 Td (by ) Tj ET Q q 0 0 0 rg BT 231.51 735.20 Td (a ) Tj ET Q q 0 0 0 rg BT 239.13 735.20 Td (planned ) Tj ET Q q 0 0 0 rg BT 276.69 735.20 Td (shift ) Tj ET Q q 0 0 0 rg BT 298.98 735.20 Td (in ) Tj ET Q q 0 0 0 rg BT 310.27 735.20 Td (the ) Tj ET Q q 0 0 0 rg BT 326.45 735.20 Td (timing ) Tj ET Q q 0 0 0 rg BT 357.91 735.20 Td (of ) Tj ET Q q 0 0 0 rg BT 369.81 735.20 Td (Fall ) Tj ET Q q 0 0 0 rg BT 389.66 735.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 414.39 735.20 Td (inventory ) Tj ET Q q 0 0 0 rg BT 459.29 735.20 Td (production ) Tj ET Q q 0 0 0 rg BT 509.68 735.20 Td (and ) Tj ET Q q 0 0 0 rg BT 528.30 735.20 Td (receipts ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 722.00 Td (to ) Tj ET Q q 0 0 0 rg BT 59.52 722.00 Td (align ) Tj ET Q q 0 0 0 rg BT 82.99 722.00 Td (inventory ) Tj ET Q q 0 0 0 rg BT 126.61 722.00 Td (purchases ) Tj ET Q q 0 0 0 rg BT 171.45 722.00 Td (more ) Tj ET Q q 0 0 0 rg BT 195.52 722.00 Td (closely ) Tj ET Q q 0 0 0 rg BT 228.15 722.00 Td (with ) Tj ET Q q 0 0 0 rg BT 249.17 722.00 Td (shipment ) Tj ET Q q 0 0 0 rg BT 290.97 722.00 Td (of ) Tj ET Q q 0 0 0 rg BT 301.60 722.00 Td (our ) Tj ET Q q 0 0 0 rg BT 317.73 722.00 Td (Fall ) Tj ET Q q 0 0 0 rg BT 336.31 722.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 359.78 722.00 Td (advance ) Tj ET Q q 0 0 0 rg BT 397.28 722.00 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 442.73 722.00 Td (orders. ) Tj ET Q q 0 0 0 rg BT 474.33 722.00 Td (W) Tj ET Q q 0 0 0 rg BT 483.83 722.00 Td (e ) Tj ET Q q 0 0 0 rg BT 490.18 722.00 Td (expect ) Tj ET Q q 0 0 0 rg BT 520.35 722.00 Td (inventory ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 708.80 Td (levels ) Tj ET Q q 0 0 0 rg BT 77.91 708.80 Td (at ) Tj ET Q q 0 0 0 rg BT 88.60 708.80 Td (the ) Tj ET Q q 0 0 0 rg BT 104.78 708.80 Td (end ) Tj ET Q q 0 0 0 rg BT 123.42 708.80 Td (of ) Tj ET Q q 0 0 0 rg BT 135.33 708.80 Td (the ) Tj ET Q q 0 0 0 rg BT 151.52 708.80 Td (year ) Tj ET Q q 0 0 0 rg BT 173.20 708.80 Td (to ) Tj ET Q q 0 0 0 rg BT 184.50 708.80 Td (be ) Tj ET Q q 0 0 0 rg BT 197.63 708.80 Td (consistent ) Tj ET Q q 0 0 0 rg BT 244.38 708.80 Td (with ) Tj ET Q q 0 0 0 rg BT 266.69 708.80 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 317.69 708.80 Td (full ) Tj ET Q q 0 0 0 rg BT 335.71 708.80 Td (year ) Tj ET Q q 0 0 0 rg BT 357.39 708.80 Td (net ) Tj ET Q q 0 0 0 rg BT 373.58 708.80 Td (sales ) Tj ET Q q 0 0 0 rg BT 397.71 708.80 Td (growth.) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 49.5 680.678564453125 m 327.06201171875 680.678564453125 l s q 0 0 0 rg BT 49.50 682.40 Td (Y) Tj ET Q q 0 0 0 rg BT 56.22 682.40 Td (ear) Tj ET Q q 0 0 0 rg BT 71.08 682.40 Td (-to-Date ) Tj ET Q q 0 0 0 rg BT 112.31 682.40 Td (Cash ) Tj ET Q q 0 0 0 rg BT 138.90 682.40 Td (Flow) Tj ET Q q 0 0 0 rg BT 161.51 682.40 Td (, ) Tj ET Q q 0 0 0 rg BT 167.01 682.40 Td (Shar) Tj ET Q q 0 0 0 rg BT 189.43 682.40 Td (e ) Tj ET Q q 0 0 0 rg BT 197.07 682.40 Td (Repur) Tj ET Q q 0 0 0 rg BT 226.81 682.40 Td (chases ) Tj ET Q q 0 0 0 rg BT 259.50 682.40 Td (and ) Tj ET Q q 0 0 0 rg BT 279.99 682.40 Td (Dividends) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 669.20 Td (Net ) Tj ET Q q 0 0 0 rg BT 67.29 669.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 88.75 669.20 Td (used ) Tj ET Q q 0 0 0 rg BT 110.82 669.20 Td (by ) Tj ET Q q 0 0 0 rg BT 123.73 669.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 171.46 669.20 Td (in ) Tj ET Q q 0 0 0 rg BT 181.93 669.20 Td (the ) Tj ET Q q 0 0 0 rg BT 197.27 669.20 Td (first ) Tj ET Q q 0 0 0 rg BT 216.90 669.20 Td (nine ) Tj ET Q q 0 0 0 rg BT 237.75 669.20 Td (months ) Tj ET Q q 0 0 0 rg BT 272.05 669.20 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 283.13 669.20 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 305.13 669.20 Td ( ) Tj ET Q q 0 0 0 rg BT 307.04 669.20 Td (was ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 326.05 669.20 Td ($12.4 ) Tj ET Q q 0 0 0 rg BT 352.71 669.20 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.49 669.20 Td (, ) Tj ET Q q 0 0 0 rg BT 389.15 669.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 434.43 669.20 Td (to ) Tj ET Q q 0 0 0 rg BT 444.89 669.20 Td (net ) Tj ET Q q 0 0 0 rg BT 460.24 669.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 481.70 669.20 Td (used ) Tj ET Q q 0 0 0 rg BT 503.77 669.20 Td (by ) Tj ET Q q 0 0 0 rg BT 516.68 669.20 Td (operations ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 656.00 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 60.26 656.00 Td ($85.2 ) Tj ET Q q 0 0 0 rg BT 86.60 656.00 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 118.38 656.00 Td ( ) Tj ET Q q 0 0 0 rg BT 119.97 656.00 Td (in ) Tj ET Q q 0 0 0 rg BT 130.12 656.00 Td (the ) Tj ET Q q 0 0 0 rg BT 145.15 656.00 Td (comparable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 198.05 656.00 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 220.05 656.00 Td ( ) Tj ET Q q 0 0 0 rg BT 221.64 656.00 Td (period. ) Tj ET Q q 0 0 0 rg BT 253.97 656.00 Td (The ) Tj ET Q q 0 0 0 rg BT 272.67 656.00 Td (decrease ) Tj ET Q q 0 0 0 rg BT 312.11 656.00 Td (was ) Tj ET Q q 0 0 0 rg BT 330.81 656.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 373.34 656.00 Td (driven ) Tj ET Q q 0 0 0 rg BT 403.03 656.00 Td (by ) Tj ET Q q 0 0 0 rg BT 415.63 656.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 452.65 656.00 Td (in ) Tj ET Q q 0 0 0 rg BT 462.80 656.00 Td (inventory ) Tj ET Q q 0 0 0 rg BT 506.55 656.00 Td (and ) Tj ET Q q 0 0 0 rg BT 524.02 656.00 Td (accounts ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 642.80 Td (payable ) Tj ET Q q 0 0 0 rg BT 86.45 642.80 Td (balances, ) Tj ET Q q 0 0 0 rg BT 129.82 642.80 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 174.71 642.80 Td (later ) Tj ET Q q 0 0 0 rg BT 197.00 642.80 Td (receipt ) Tj ET Q q 0 0 0 rg BT 229.67 642.80 Td (of ) Tj ET Q q 0 0 0 rg BT 241.59 642.80 Td (Fall ) Tj ET Q q 0 0 0 rg BT 261.45 642.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 286.20 642.80 Td (inventory) Tj ET Q q 0 0 0 rg BT 327.64 642.80 Td (. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 616.40 Td (Capital ) Tj ET Q q 0 0 0 rg BT 83.04 616.40 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 141.01 616.40 Td (in ) Tj ET Q q 0 0 0 rg BT 151.34 616.40 Td (the ) Tj ET Q q 0 0 0 rg BT 166.55 616.40 Td (first ) Tj ET Q q 0 0 0 rg BT 186.04 616.40 Td (nine ) Tj ET Q q 0 0 0 rg BT 206.75 616.40 Td (months ) Tj ET Q q 0 0 0 rg BT 240.91 616.40 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 251.84 616.40 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 273.84 616.40 Td ( ) Tj ET Q q 0 0 0 rg BT 275.61 616.40 Td (totaled ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 307.31 616.40 Td ($41.8 ) Tj ET Q q 0 0 0 rg BT 333.83 616.40 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 365.62 616.40 Td (, ) Tj ET Q q 0 0 0 rg BT 370.14 616.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 415.27 616.40 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 425.60 616.40 Td ($35.6 ) Tj ET Q q 0 0 0 rg BT 452.12 616.40 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 483.90 616.40 Td ( ) Tj ET Q q 0 0 0 rg BT 485.67 616.40 Td (in ) Tj ET Q q 0 0 0 rg BT 496.00 616.40 Td (the ) Tj ET Q q 0 0 0 rg BT 511.20 616.40 Td (comparable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 603.20 Td (2016) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 71.50 603.20 Td ( ) Tj ET Q q 0 0 0 rg BT 74.25 603.20 Td (period.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 590.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 576.80 Td (During ) Tj ET Q q 0 0 0 rg BT 84.39 576.80 Td (the ) Tj ET Q q 0 0 0 rg BT 101.56 576.80 Td (first ) Tj ET Q q 0 0 0 rg BT 123.00 576.80 Td (nine ) Tj ET Q q 0 0 0 rg BT 145.67 576.80 Td (months ) Tj ET Q q 0 0 0 rg BT 181.79 576.80 Td (of ) Tj ET Q q 0 0 0 rg BT 194.68 576.80 Td (2017, ) Tj ET Q q 0 0 0 rg BT 223.16 576.80 Td (the ) Tj ET Q q 0 0 0 rg BT 240.32 576.80 Td (company ) Tj ET Q q 0 0 0 rg BT 284.37 576.80 Td (repurchased ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 341.24 576.80 Td (665,095) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 376.99 576.80 Td ( ) Tj ET Q q 0 0 0 rg BT 380.71 576.80 Td (shares ) Tj ET Q q 0 0 0 rg BT 411.93 576.80 Td (of ) Tj ET Q q 0 0 0 rg BT 424.82 576.80 Td (common ) Tj ET Q q 0 0 0 rg BT 467.04 576.80 Td (stock ) Tj ET Q q 0 0 0 rg BT 493.99 576.80 Td (at ) Tj ET Q q 0 0 0 rg BT 505.66 576.80 Td (an ) Tj ET Q q 0 0 0 rg BT 519.77 576.80 Td (aggregate ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 563.60 Td (purchase ) Tj ET Q q 0 0 0 rg BT 93.83 563.60 Td (price ) Tj ET Q q 0 0 0 rg BT 121.05 563.60 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 135.45 563.60 Td ($35.5 ) Tj ET Q q 0 0 0 rg BT 165.44 563.60 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 197.22 563.60 Td (. ) Tj ET Q q 0 0 0 rg BT 205.21 563.60 Td (No ) Tj ET Q q 0 0 0 rg BT 223.89 563.60 Td (repurchases ) Tj ET Q q 0 0 0 rg BT 281.05 563.60 Td (were ) Tj ET Q q 0 0 0 rg BT 307.66 563.60 Td (made ) Tj ET Q q 0 0 0 rg BT 336.72 563.60 Td (during ) Tj ET Q q 0 0 0 rg BT 370.67 563.60 Td (the ) Tj ET Q q 0 0 0 rg BT 389.35 563.60 Td (third ) Tj ET Q q 0 0 0 rg BT 415.36 563.60 Td (quarter) Tj ET Q q 0 0 0 rg BT 445.90 563.60 Td (. ) Tj ET Q q 0 0 0 rg BT 452.74 563.60 Td (At ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.97 563.60 Td (September30, ) Tj ET Q q 0 0 0 rg BT 537.75 563.60 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.75 563.60 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 550.40 Td (approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 116.45 550.40 Td ($137.9 ) Tj ET Q q 0 0 0 rg BT 150.12 550.40 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 181.90 550.40 Td ( ) Tj ET Q q 0 0 0 rg BT 185.32 550.40 Td (remained ) Tj ET Q q 0 0 0 rg BT 229.66 550.40 Td (available ) Tj ET Q q 0 0 0 rg BT 272.78 550.40 Td (under ) Tj ET Q q 0 0 0 rg BT 301.24 550.40 Td (the ) Tj ET Q q 0 0 0 rg BT 318.10 550.40 Td (current ) Tj ET Q q 0 0 0 rg BT 352.67 550.40 Td (stock ) Tj ET Q q 0 0 0 rg BT 379.31 550.40 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 430.36 550.40 Td (authorization, ) Tj ET Q q 0 0 0 rg BT 494.56 550.40 Td (which ) Tj ET Q q 0 0 0 rg BT 524.87 550.40 Td (does ) Tj ET Q q 0 0 0 rg BT 548.45 550.40 Td (not ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 537.20 Td (obligate ) Tj ET Q q 0 0 0 rg BT 87.58 537.20 Td (the ) Tj ET Q q 0 0 0 rg BT 103.66 537.20 Td (company ) Tj ET Q q 0 0 0 rg BT 146.63 537.20 Td (to ) Tj ET Q q 0 0 0 rg BT 157.83 537.20 Td (acquire ) Tj ET Q q 0 0 0 rg BT 192.85 537.20 Td (any ) Tj ET Q q 0 0 0 rg BT 211.38 537.20 Td (specific ) Tj ET Q q 0 0 0 rg BT 248.23 537.20 Td (number ) Tj ET Q q 0 0 0 rg BT 284.47 537.20 Td (of ) Tj ET Q q 0 0 0 rg BT 296.28 537.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 326.42 537.20 Td (or ) Tj ET Q q 0 0 0 rg BT 338.23 537.20 Td (to ) Tj ET Q q 0 0 0 rg BT 349.43 537.20 Td (acquire ) Tj ET Q q 0 0 0 rg BT 384.44 537.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 414.58 537.20 Td (over ) Tj ET Q q 0 0 0 rg BT 436.77 537.20 Td (any ) Tj ET Q q 0 0 0 rg BT 455.30 537.20 Td (specified ) Tj ET Q q 0 0 0 rg BT 497.65 537.20 Td (period ) Tj ET Q q 0 0 0 rg BT 528.40 537.20 Td (of ) Tj ET Q q 0 0 0 rg BT 540.21 537.20 Td (time.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 510.80 Td (The ) Tj ET Q q 0 0 0 rg BT 69.35 510.80 Td (company ) Tj ET Q q 0 0 0 rg BT 112.42 510.80 Td (paid ) Tj ET Q q 0 0 0 rg BT 134.11 510.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 156.41 510.80 Td (dividends ) Tj ET Q q 0 0 0 rg BT 201.93 510.80 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 213.84 510.80 Td ($37.6 ) Tj ET Q q 0 0 0 rg BT 241.34 510.80 Td (million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 273.13 510.80 Td ( ) Tj ET Q q 0 0 0 rg BT 275.88 510.80 Td (during ) Tj ET Q q 0 0 0 rg BT 307.34 510.80 Td (the ) Tj ET Q q 0 0 0 rg BT 323.53 510.80 Td (first ) Tj ET Q q 0 0 0 rg BT 344.00 510.80 Td (nine ) Tj ET Q q 0 0 0 rg BT 365.69 510.80 Td (months ) Tj ET Q q 0 0 0 rg BT 400.83 510.80 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 412.75 510.80 Td (2017) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 434.75 510.80 Td (.) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 49.5 482.678564453125 m 209.107421875 482.678564453125 l s q 0 0 0 rg BT 49.50 484.40 Td (Regular) Tj ET Q q 0 0 0 rg BT 87.18 484.40 Td ( Quarterly Cash Dividend) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 471.20 Td (At ) Tj ET Q q 0 0 0 rg BT 62.39 471.20 Td (its ) Tj ET Q q 0 0 0 rg BT 74.68 471.20 Td (regular ) Tj ET Q q 0 0 0 rg BT 107.72 471.20 Td (board ) Tj ET Q q 0 0 0 rg BT 134.66 471.20 Td (meeting ) Tj ET Q q 0 0 0 rg BT 171.99 471.20 Td (on ) Tj ET Q q 0 0 0 rg BT 184.89 471.20 Td (October ) Tj ET Q q 0 0 0 rg BT 222.21 471.20 Td (20, ) Tj ET Q q 0 0 0 rg BT 237.85 471.20 Td (2017 ) Tj ET Q q 0 0 0 rg BT 261.75 471.20 Td (the ) Tj ET Q q 0 0 0 rg BT 277.08 471.20 Td (board ) Tj ET Q q 0 0 0 rg BT 304.02 471.20 Td (of ) Tj ET Q q 0 0 0 rg BT 315.08 471.20 Td (directors ) Tj ET Q q 0 0 0 rg BT 355.46 471.20 Td (authorized ) Tj ET Q q 0 0 0 rg BT 403.77 471.20 Td (a ) Tj ET Q q 0 0 0 rg BT 410.55 471.20 Td (6 ) Tj ET Q q 0 0 0 rg BT 417.94 471.20 Td (percent ) Tj ET Q q 0 0 0 rg BT 452.21 471.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 490.13 471.20 Td (in ) Tj ET Q q 0 0 0 rg BT 500.58 471.20 Td (the ) Tj ET Q q 0 0 0 rg BT 515.91 471.20 Td (company's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 458.00 Td (regular ) Tj ET Q q 0 0 0 rg BT 84.82 458.00 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 128.71 458.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 152.43 458.00 Td (dividend ) Tj ET Q q 0 0 0 rg BT 195.10 458.00 Td (to ) Tj ET Q q 0 0 0 rg BT 207.83 458.00 Td ($0.19 ) Tj ET Q q 0 0 0 rg BT 236.76 458.00 Td (per ) Tj ET Q q 0 0 0 rg BT 254.99 458.00 Td (share, ) Tj ET Q q 0 0 0 rg BT 285.12 458.00 Td (payable ) Tj ET Q q 0 0 0 rg BT 323.50 458.00 Td (on ) Tj ET Q q 0 0 0 rg BT 338.68 458.00 Td (November ) Tj ET Q q 0 0 0 rg BT 389.29 458.00 Td (30, ) Tj ET Q q 0 0 0 rg BT 407.21 458.00 Td (2017 ) Tj ET Q q 0 0 0 rg BT 433.39 458.00 Td (to ) Tj ET Q q 0 0 0 rg BT 446.13 458.00 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 505.89 458.00 Td (of ) Tj ET Q q 0 0 0 rg BT 519.23 458.00 Td (record ) Tj ET Q q 0 0 0 rg BT 551.50 458.00 Td (on ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 444.80 Td (November ) Tj ET Q q 0 0 0 rg BT 98.68 444.80 Td (16, ) Tj ET Q q 0 0 0 rg BT 115.18 444.80 Td (2017. ) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 49.5 417.878564453125 m 138.423828125 417.878564453125 l s q 0 0 0 rg BT 49.50 419.60 Td (Updated Full ) Tj ET Q q 0 0 0 rg BT 113.88 419.60 Td (Y) Tj ET Q q 0 0 0 rg BT 120.61 419.60 Td (ear) Tj ET Q q 0 0 0 rg BT 135.67 419.60 Td ( ) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 138.423828125 417.878564453125 m 160.423828125 417.878564453125 l s q 0 0 0 rg BT 138.42 419.60 Td (2017) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 160.423828125 417.878564453125 m 251.18994140625 417.878564453125 l s q 0 0 0 rg BT 160.42 419.60 Td ( Financial Outlook ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 406.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 69.80 406.40 Td (objective ) Tj ET Q q 0 0 0 rg BT 113.31 406.40 Td (in ) Tj ET Q q 0 0 0 rg BT 125.06 406.40 Td (providing ) Tj ET Q q 0 0 0 rg BT 171.03 406.40 Td (a ) Tj ET Q q 0 0 0 rg BT 179.11 406.40 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 254.39 406.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 296.07 406.40 Td (outlook ) Tj ET Q q 0 0 0 rg BT 332.87 406.40 Td (is ) Tj ET Q q 0 0 0 rg BT 343.40 406.40 Td (to ) Tj ET Q q 0 0 0 rg BT 355.15 406.40 Td (help ) Tj ET Q q 0 0 0 rg BT 377.29 406.40 Td (investors ) Tj ET Q q 0 0 0 rg BT 420.20 406.40 Td (understand ) Tj ET Q q 0 0 0 rg BT 471.66 406.40 Td (our ) Tj ET Q q 0 0 0 rg BT 489.52 406.40 Td (business ) Tj ET Q q 0 0 0 rg BT 529.99 406.40 Td (and ) Tj ET Q q 0 0 0 rg BT 549.07 406.40 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 393.20 Td (variables ) Tj ET Q q 0 0 0 rg BT 91.95 393.20 Td (that ) Tj ET Q q 0 0 0 rg BT 111.20 393.20 Td (we ) Tj ET Q q 0 0 0 rg BT 126.77 393.20 Td (consider ) Tj ET Q q 0 0 0 rg BT 166.79 393.20 Td (when ) Tj ET Q q 0 0 0 rg BT 193.36 393.20 Td (planning ) Tj ET Q q 0 0 0 rg BT 234.61 393.20 Td (our ) Tj ET Q q 0 0 0 rg BT 252.02 393.20 Td (business ) Tj ET Q q 0 0 0 rg BT 292.05 393.20 Td (and ) Tj ET Q q 0 0 0 rg BT 310.69 393.20 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 359.25 393.20 Td (our ) Tj ET Q q 0 0 0 rg BT 376.66 393.20 Td (own ) Tj ET Q q 0 0 0 rg BT 398.36 393.20 Td (performance.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 368.00 Td (All ) Tj ET Q q 0 0 0 rg BT 65.35 368.00 Td (projections ) Tj ET Q q 0 0 0 rg BT 116.01 368.00 Td (related ) Tj ET Q q 0 0 0 rg BT 147.73 368.00 Td (to ) Tj ET Q q 0 0 0 rg BT 158.07 368.00 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 208.12 368.00 Td (future ) Tj ET Q q 0 0 0 rg BT 236.17 368.00 Td (results ) Tj ET Q q 0 0 0 rg BT 266.68 368.00 Td (are ) Tj ET Q q 0 0 0 rg BT 281.90 368.00 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 355.78 368.00 Td (in ) Tj ET Q q 0 0 0 rg BT 366.12 368.00 Td (nature ) Tj ET Q q 0 0 0 rg BT 395.40 368.00 Td (and ) Tj ET Q q 0 0 0 rg BT 413.07 368.00 Td (may ) Tj ET Q q 0 0 0 rg BT 433.80 368.00 Td (change, ) Tj ET Q q 0 0 0 rg BT 469.49 368.00 Td (perhaps ) Tj ET Q q 0 0 0 rg BT 505.48 368.00 Td (significantly) Tj ET Q q 0 0 0 rg BT 559.76 368.00 Td (. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 354.80 Td (Our ) Tj ET Q q 0 0 0 rg BT 70.04 354.80 Td (annual ) Tj ET Q q 0 0 0 rg BT 102.80 354.80 Td (net ) Tj ET Q q 0 0 0 rg BT 119.67 354.80 Td (sales ) Tj ET Q q 0 0 0 rg BT 144.49 354.80 Td (are ) Tj ET Q q 0 0 0 rg BT 161.36 354.80 Td (weighted ) Tj ET Q q 0 0 0 rg BT 205.11 354.80 Td (more ) Tj ET Q q 0 0 0 rg BT 231.15 354.80 Td (heavily ) Tj ET Q q 0 0 0 rg BT 266.96 354.80 Td (toward ) Tj ET Q q 0 0 0 rg BT 300.95 354.80 Td (the ) Tj ET Q q 0 0 0 rg BT 317.82 354.80 Td (Fall/W) Tj ET Q q 0 0 0 rg BT 347.93 354.80 Td (inter ) Tj ET Q q 0 0 0 rg BT 371.52 354.80 Td (season, ) Tj ET Q q 0 0 0 rg BT 407.04 354.80 Td (while ) Tj ET Q q 0 0 0 rg BT 434.91 354.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 479.89 354.80 Td (expenses ) Tj ET Q q 0 0 0 rg BT 523.03 354.80 Td (are ) Tj ET Q q 0 0 0 rg BT 539.90 354.80 Td (more ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 341.60 Td (equally ) Tj ET Q q 0 0 0 rg BT 83.67 341.60 Td (distributed ) Tj ET Q q 0 0 0 rg BT 132.51 341.60 Td (throughout ) Tj ET Q q 0 0 0 rg BT 182.58 341.60 Td (the ) Tj ET Q q 0 0 0 rg BT 197.81 341.60 Td (year) Tj ET Q q 0 0 0 rg BT 216.29 341.60 Td (, ) Tj ET Q q 0 0 0 rg BT 220.84 341.60 Td (resulting ) Tj ET Q q 0 0 0 rg BT 261.12 341.60 Td (in ) Tj ET Q q 0 0 0 rg BT 271.47 341.60 Td (a ) Tj ET Q q 0 0 0 rg BT 278.14 341.60 Td (highly ) Tj ET Q q 0 0 0 rg BT 308.05 341.60 Td (seasonal ) Tj ET Q q 0 0 0 rg BT 347.10 341.60 Td (net ) Tj ET Q q 0 0 0 rg BT 362.33 341.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 385.51 341.60 Td (and ) Tj ET Q q 0 0 0 rg BT 403.18 341.60 Td (profitability ) Tj ET Q q 0 0 0 rg BT 457.52 341.60 Td (pattern ) Tj ET Q q 0 0 0 rg BT 489.85 341.60 Td (weighted ) Tj ET Q q 0 0 0 rg BT 531.96 341.60 Td (toward ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 328.40 Td (the ) Tj ET Q q 0 0 0 rg BT 65.69 328.40 Td (second ) Tj ET Q q 0 0 0 rg BT 98.98 328.40 Td (half ) Tj ET Q q 0 0 0 rg BT 118.84 328.40 Td (of ) Tj ET Q q 0 0 0 rg BT 130.75 328.40 Td (the ) Tj ET Q q 0 0 0 rg BT 146.94 328.40 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 173.51 328.40 Td (year) Tj ET Q q 0 0 0 rg BT 191.83 328.40 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 303.20 Td (Spring ) Tj ET Q q 0 0 0 rg BT 81.75 303.20 Td (and ) Tj ET Q q 0 0 0 rg BT 100.54 303.20 Td (Fall ) Tj ET Q q 0 0 0 rg BT 120.56 303.20 Td (season ) Tj ET Q q 0 0 0 rg BT 152.80 303.20 Td (advance ) Tj ET Q q 0 0 0 rg BT 191.74 303.20 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 238.63 303.20 Td (orders ) Tj ET Q q 0 0 0 rg BT 269.03 303.20 Td (typically ) Tj ET Q q 0 0 0 rg BT 310.43 303.20 Td (drive ) Tj ET Q q 0 0 0 rg BT 335.94 303.20 Td (a ) Tj ET Q q 0 0 0 rg BT 343.73 303.20 Td (significant ) Tj ET Q q 0 0 0 rg BT 393.07 303.20 Td (portion ) Tj ET Q q 0 0 0 rg BT 427.76 303.20 Td (of ) Tj ET Q q 0 0 0 rg BT 439.83 303.20 Td (our ) Tj ET Q q 0 0 0 rg BT 457.40 303.20 Td (annual ) Tj ET Q q 0 0 0 rg BT 489.63 303.20 Td (net ) Tj ET Q q 0 0 0 rg BT 505.98 303.20 Td (sales ) Tj ET Q q 0 0 0 rg BT 530.27 303.20 Td (and ) Tj ET Q q 0 0 0 rg BT 549.07 303.20 Td (are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 290.00 Td (one ) Tj ET Q q 0 0 0 rg BT 68.11 290.00 Td (of ) Tj ET Q q 0 0 0 rg BT 80.01 290.00 Td (several ) Tj ET Q q 0 0 0 rg BT 113.89 290.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 163.05 290.00 Td (factors ) Tj ET Q q 0 0 0 rg BT 195.71 290.00 Td (we ) Tj ET Q q 0 0 0 rg BT 211.27 290.00 Td (use ) Tj ET Q q 0 0 0 rg BT 228.66 290.00 Td (to ) Tj ET Q q 0 0 0 rg BT 239.95 290.00 Td (formulate ) Tj ET Q q 0 0 0 rg BT 285.44 290.00 Td (our ) Tj ET Q q 0 0 0 rg BT 302.84 290.00 Td (full ) Tj ET Q q 0 0 0 rg BT 320.84 290.00 Td (year ) Tj ET Q q 0 0 0 rg BT 342.50 290.00 Td (outlook. ) Tj ET Q q 0 0 0 rg BT 381.60 290.00 Td (However) Tj ET Q q 0 0 0 rg BT 421.47 290.00 Td (, ) Tj ET Q q 0 0 0 rg BT 426.95 290.00 Td (among ) Tj ET Q q 0 0 0 rg BT 459.62 290.00 Td (the ) Tj ET Q q 0 0 0 rg BT 475.79 290.00 Td (many ) Tj ET Q q 0 0 0 rg BT 502.96 290.00 Td (risks ) Tj ET Q q 0 0 0 rg BT 526.47 290.00 Td (inherent ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 276.80 Td (in ) Tj ET Q q 0 0 0 rg BT 61.38 276.80 Td (our ) Tj ET Q q 0 0 0 rg BT 79.37 276.80 Td (global ) Tj ET Q q 0 0 0 rg BT 110.20 276.80 Td (business, ) Tj ET Q q 0 0 0 rg BT 153.56 276.80 Td (our ) Tj ET Q q 0 0 0 rg BT 171.55 276.80 Td (projected ) Tj ET Q q 0 0 0 rg BT 215.80 276.80 Td (full ) Tj ET Q q 0 0 0 rg BT 234.40 276.80 Td (year ) Tj ET Q q 0 0 0 rg BT 256.65 276.80 Td (net ) Tj ET Q q 0 0 0 rg BT 273.42 276.80 Td (sales ) Tj ET Q q 0 0 0 rg BT 298.13 276.80 Td (and ) Tj ET Q q 0 0 0 rg BT 317.34 276.80 Td (profitability ) Tj ET Q q 0 0 0 rg BT 373.21 276.80 Td (may ) Tj ET Q q 0 0 0 rg BT 395.48 276.80 Td (be ) Tj ET Q q 0 0 0 rg BT 409.19 276.80 Td (materially ) Tj ET Q q 0 0 0 rg BT 457.11 276.80 Td (af) Tj ET Q q 0 0 0 rg BT 465.45 276.80 Td (fected ) Tj ET Q q 0 0 0 rg BT 495.65 276.80 Td (by ) Tj ET Q q 0 0 0 rg BT 509.98 276.80 Td (unfavorable ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 263.60 Td (weather ) Tj ET Q q 0 0 0 rg BT 87.44 263.60 Td (patterns ) Tj ET Q q 0 0 0 rg BT 125.39 263.60 Td (and ) Tj ET Q q 0 0 0 rg BT 144.41 263.60 Td (other ) Tj ET Q q 0 0 0 rg BT 170.14 263.60 Td (factors ) Tj ET Q q 0 0 0 rg BT 203.20 263.60 Td (that ) Tj ET Q q 0 0 0 rg BT 222.83 263.60 Td (af) Tj ET Q q 0 0 0 rg BT 231.17 263.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 250.79 263.60 Td (consumer ) Tj ET Q q 0 0 0 rg BT 296.68 263.60 Td (demand ) Tj ET Q q 0 0 0 rg BT 334.64 263.60 Td (and ) Tj ET Q q 0 0 0 rg BT 353.65 263.60 Td (store ) Tj ET Q q 0 0 0 rg BT 378.16 263.60 Td (traf) Tj ET Q q 0 0 0 rg BT 393.23 263.60 Td (fic ) Tj ET Q q 0 0 0 rg BT 407.96 263.60 Td (and ) Tj ET Q q 0 0 0 rg BT 426.98 263.60 Td (lead ) Tj ET Q q 0 0 0 rg BT 448.43 263.60 Td (to ) Tj ET Q q 0 0 0 rg BT 460.11 263.60 Td (higher) Tj ET Q q 0 0 0 rg BT 488.00 263.60 Td (-than-anticipated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 250.40 Td (order ) Tj ET Q q 0 0 0 rg BT 74.99 250.40 Td (cancellations ) Tj ET Q q 0 0 0 rg BT 134.70 250.40 Td (and ) Tj ET Q q 0 0 0 rg BT 152.86 250.40 Td (lower ) Tj ET Q q 0 0 0 rg BT 180.20 250.40 Td (reorders ) Tj ET Q q 0 0 0 rg BT 218.52 250.40 Td (by ) Tj ET Q q 0 0 0 rg BT 231.80 250.40 Td (our ) Tj ET Q q 0 0 0 rg BT 248.75 250.40 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 295.02 250.40 Td (customers ) Tj ET Q q 0 0 0 rg BT 341.91 250.40 Td (or ) Tj ET Q q 0 0 0 rg BT 353.36 250.40 Td (lower) Tj ET Q q 0 0 0 rg BT 378.18 250.40 Td (-than-projected ) Tj ET Q q 0 0 0 rg BT 447.65 250.40 Td (net ) Tj ET Q q 0 0 0 rg BT 463.38 250.40 Td (sales ) Tj ET Q q 0 0 0 rg BT 487.05 250.40 Td (through ) Tj ET Q q 0 0 0 rg BT 523.55 250.40 Td (our ) Tj ET Q q 0 0 0 rg BT 540.50 250.40 Td (DTC ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 237.20 Td (channels, ) Tj ET Q q 0 0 0 rg BT 93.48 237.20 Td (particularly ) Tj ET Q q 0 0 0 rg BT 146.93 237.20 Td (during ) Tj ET Q q 0 0 0 rg BT 178.40 237.20 Td (the ) Tj ET Q q 0 0 0 rg BT 194.59 237.20 Td (fourth ) Tj ET Q q 0 0 0 rg BT 224.22 237.20 Td (quarter) Tj ET Q q 0 0 0 rg BT 254.76 237.20 Td (. ) Tj ET Q q 0 0 0 rg BT 260.26 237.20 Td (Projections ) Tj ET Q q 0 0 0 rg BT 312.51 237.20 Td (are ) Tj ET Q q 0 0 0 rg BT 328.68 237.20 Td (predicated ) Tj ET Q q 0 0 0 rg BT 377.24 237.20 Td (on ) Tj ET Q q 0 0 0 rg BT 390.99 237.20 Td (normal ) Tj ET Q q 0 0 0 rg BT 424.90 237.20 Td (seasonal ) Tj ET Q q 0 0 0 rg BT 464.91 237.20 Td (weather ) Tj ET Q q 0 0 0 rg BT 502.47 237.20 Td (globally) Tj ET Q q 0 0 0 rg BT 537.81 237.20 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 212.00 Td (In ) Tj ET Q q 0 0 0 rg BT 62.97 212.00 Td (addition, ) Tj ET Q q 0 0 0 rg BT 106.08 212.00 Td (bankruptcies, ) Tj ET Q q 0 0 0 rg BT 169.35 212.00 Td (liquidations, ) Tj ET Q q 0 0 0 rg BT 228.35 212.00 Td (store ) Tj ET Q q 0 0 0 rg BT 254.05 212.00 Td (closures, ) Tj ET Q q 0 0 0 rg BT 297.15 212.00 Td (and ) Tj ET Q q 0 0 0 rg BT 317.34 212.00 Td (consolidation ) Tj ET Q q 0 0 0 rg BT 380.93 212.00 Td (among ) Tj ET Q q 0 0 0 rg BT 415.17 212.00 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 439.05 212.00 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 487.34 212.00 Td (customers ) Tj ET Q q 0 0 0 rg BT 536.25 212.00 Td (create ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 198.80 Td (increased ) Tj ET Q q 0 0 0 rg BT 93.40 198.80 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 145.25 198.80 Td (in ) Tj ET Q q 0 0 0 rg BT 156.17 198.80 Td (our ) Tj ET Q q 0 0 0 rg BT 173.21 198.80 Td (ability ) Tj ET Q q 0 0 0 rg BT 203.68 198.80 Td (to ) Tj ET Q q 0 0 0 rg BT 214.61 198.80 Td (predict ) Tj ET Q q 0 0 0 rg BT 247.52 198.80 Td (near) Tj ET Q q 0 0 0 rg BT 266.23 198.80 Td (-term ) Tj ET Q q 0 0 0 rg BT 292.42 198.80 Td (net ) Tj ET Q q 0 0 0 rg BT 308.23 198.80 Td (sales ) Tj ET Q q 0 0 0 rg BT 331.98 198.80 Td (and ) Tj ET Q q 0 0 0 rg BT 350.23 198.80 Td (profitability) Tj ET Q q 0 0 0 rg BT 402.06 198.80 Td (. ) Tj ET Q q 0 0 0 rg BT 407.01 198.80 Td (W) Tj ET Q q 0 0 0 rg BT 416.51 198.80 Td (e ) Tj ET Q q 0 0 0 rg BT 423.77 198.80 Td (are ) Tj ET Q q 0 0 0 rg BT 439.56 198.80 Td (also ) Tj ET Q q 0 0 0 rg BT 459.65 198.80 Td (facing ) Tj ET Q q 0 0 0 rg BT 489.51 198.80 Td (macroeconomic) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.12156862745098039 0.28627450980392155 0.49019607843137253 rg BT 559.75 198.80 Td (, ) Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 185.60 Td (competitive ) Tj ET Q q 0 0 0 rg BT 104.62 185.60 Td (and ) Tj ET Q q 0 0 0 rg BT 123.69 185.60 Td (geopolitical ) Tj ET Q q 0 0 0 rg BT 178.81 185.60 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 231.48 185.60 Td (in ) Tj ET Q q 0 0 0 rg BT 243.23 185.60 Td (several ) Tj ET Q q 0 0 0 rg BT 277.57 185.60 Td (major ) Tj ET Q q 0 0 0 rg BT 306.42 185.60 Td (markets, ) Tj ET Q q 0 0 0 rg BT 347.18 185.60 Td (making ) Tj ET Q q 0 0 0 rg BT 383.37 185.60 Td (it ) Tj ET Q q 0 0 0 rg BT 392.67 185.60 Td (more ) Tj ET Q q 0 0 0 rg BT 418.47 185.60 Td (dif) Tj ET Q q 0 0 0 rg BT 430.49 185.60 Td (ficult ) Tj ET Q q 0 0 0 rg BT 456.89 185.60 Td (to ) Tj ET Q q 0 0 0 rg BT 468.64 185.60 Td (forecast ) Tj ET Q q 0 0 0 rg BT 506.64 185.60 Td (our ) Tj ET Q q 0 0 0 rg BT 524.50 185.60 Td (net ) Tj ET Q q 0 0 0 rg BT 541.13 185.60 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 172.40 Td (and ) Tj ET Q q 0 0 0 rg BT 67.37 172.40 Td (profitability) Tj ET Q q 0 0 0 rg BT 119.20 172.40 Td (. ) Tj ET Q q 0 0 0 rg BT 123.94 172.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 143.04 172.40 Td (full ) Tj ET Q q 0 0 0 rg BT 160.31 172.40 Td (year ) Tj ET Q q 0 0 0 rg BT 181.22 172.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 205.21 172.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 245.68 172.40 Td (outlook ) Tj ET Q q 0 0 0 rg BT 281.29 172.40 Td (assumes ) Tj ET Q q 0 0 0 rg BT 319.94 172.40 Td (that ) Tj ET Q q 0 0 0 rg BT 338.42 172.40 Td (current ) Tj ET Q q 0 0 0 rg BT 371.56 172.40 Td (macro ) Tj ET Q q 0 0 0 rg BT 401.04 172.40 Td (and ) Tj ET Q q 0 0 0 rg BT 418.91 172.40 Td (market ) Tj ET Q q 0 0 0 rg BT 451.44 172.40 Td (conditions ) Tj ET Q q 0 0 0 rg BT 499.26 172.40 Td (in ) Tj ET Q q 0 0 0 rg BT 509.81 172.40 Td (key ) Tj ET Q q 0 0 0 rg BT 527.68 172.40 Td (markets ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 159.20 Td (do ) Tj ET Q q 0 0 0 rg BT 63.25 159.20 Td (not ) Tj ET Q q 0 0 0 rg BT 80.06 159.20 Td (worsen ) Tj ET Q q 0 0 0 rg BT 114.58 159.20 Td (for ) Tj ET Q q 0 0 0 rg BT 130.15 159.20 Td (the ) Tj ET Q q 0 0 0 rg BT 146.34 159.20 Td (balance ) Tj ET Q q 0 0 0 rg BT 182.68 159.20 Td (of ) Tj ET Q q 0 0 0 rg BT 194.59 159.20 Td (the ) Tj ET Q q 0 0 0 rg BT 210.78 159.20 Td (year) Tj ET Q q 0 0 0 rg BT 229.10 159.20 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 132.80 Td (Compared ) Tj ET Q q 0 0 0 rg BT 98.33 132.80 Td (with ) Tj ET Q q 0 0 0 rg BT 120.90 132.80 Td (the ) Tj ET Q q 0 0 0 rg BT 137.35 132.80 Td (company's ) Tj ET Q q 0 0 0 rg BT 186.95 132.80 Td (previous ) Tj ET Q q 0 0 0 rg BT 227.85 132.80 Td (full ) Tj ET Q q 0 0 0 rg BT 246.14 132.80 Td (year ) Tj ET Q q 0 0 0 rg BT 268.08 132.80 Td (2017 ) Tj ET Q q 0 0 0 rg BT 293.09 132.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 334.58 132.80 Td (outlook ) Tj ET Q q 0 0 0 rg BT 371.21 132.80 Td (provided ) Tj ET Q q 0 0 0 rg BT 413.32 132.80 Td (on ) Tj ET Q q 0 0 0 rg BT 427.33 132.80 Td (July ) Tj ET Q q 0 0 0 rg BT 448.69 132.80 Td (27, ) Tj ET Q q 0 0 0 rg BT 465.45 132.80 Td (the ) Tj ET Q q 0 0 0 rg BT 481.90 132.80 Td (following ) Tj ET Q q 0 0 0 rg BT 527.69 132.80 Td (updated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 119.60 Td (full ) Tj ET Q q 0 0 0 rg BT 68.16 119.60 Td (year ) Tj ET Q q 0 0 0 rg BT 90.48 119.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 115.87 119.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 157.73 119.60 Td (outlook ) Tj ET Q q 0 0 0 rg BT 194.73 119.60 Td (now ) Tj ET Q q 0 0 0 rg BT 217.06 119.60 Td (includes ) Tj ET Q q 0 0 0 rg BT 257.11 119.60 Td (program ) Tj ET Q q 0 0 0 rg BT 297.76 119.60 Td (expenses ) Tj ET Q q 0 0 0 rg BT 340.86 119.60 Td (and ) Tj ET Q q 0 0 0 rg BT 360.13 119.60 Td (discrete ) Tj ET Q q 0 0 0 rg BT 397.72 119.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 423.11 119.60 Td (of ) Tj ET Q q 0 0 0 rg BT 435.66 119.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 502.58 119.60 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 508.08 119.60 Td (15.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 527.33 119.60 Td ( ) Tj ET Q q 0 0 0 rg BT 530.72 119.60 Td (million ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 106.40 Td (\($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.66 106.40 Td (9.5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.41 106.40 Td ( ) Tj ET Q q 0 0 0 rg BT 74.64 106.40 Td (million ) Tj ET Q q 0 0 0 rg BT 108.64 106.40 Td (net ) Tj ET Q q 0 0 0 rg BT 124.30 106.40 Td (of ) Tj ET Q q 0 0 0 rg BT 135.69 106.40 Td (tax, ) Tj ET Q q 0 0 0 rg BT 154.10 106.40 Td (or ) Tj ET Q q 0 0 0 rg BT 165.49 106.40 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 170.99 106.40 Td (0.14) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 190.24 106.40 Td ( ) Tj ET Q q 0 0 0 rg BT 192.46 106.40 Td (per ) Tj ET Q q 0 0 0 rg BT 208.73 106.40 Td (diluted ) Tj ET Q q 0 0 0 rg BT 241.51 106.40 Td (share\) ) Tj ET Q q 0 0 0 rg BT 270.60 106.40 Td (related ) Tj ET Q q 0 0 0 rg BT 302.75 106.40 Td (to ) Tj ET Q q 0 0 0 rg BT 313.53 106.40 Td (Project ) Tj ET Q q 0 0 0 rg BT 346.91 106.40 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 398.04 106.40 Td (, ) Tj ET Q q 0 0 0 rg BT 403.01 106.40 Td (of ) Tj ET Q q 0 0 0 rg BT 414.40 106.40 Td (which ) Tj ET Q q 0 0 0 rg BT 443.50 106.40 Td (approximately ) Tj ET Q q 0 0 0 rg BT 509.26 106.40 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.76 106.40 Td (8.6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.51 106.40 Td ( ) Tj ET Q q 0 0 0 rg BT 530.73 106.40 Td (million ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 93.20 Td (\($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.66 93.20 Td (5.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 72.41 93.20 Td ( ) Tj ET Q q 0 0 0 rg BT 75.16 93.20 Td (million ) Tj ET Q q 0 0 0 rg BT 109.69 93.20 Td (net ) Tj ET Q q 0 0 0 rg BT 125.88 93.20 Td (of ) Tj ET Q q 0 0 0 rg BT 137.80 93.20 Td (tax, ) Tj ET Q q 0 0 0 rg BT 156.73 93.20 Td (or ) Tj ET Q q 0 0 0 rg BT 168.65 93.20 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 174.15 93.20 Td (0.08) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 193.40 93.20 Td ( ) Tj ET Q q 0 0 0 rg BT 196.15 93.20 Td (per ) Tj ET Q q 0 0 0 rg BT 212.94 93.20 Td (diluted ) Tj ET Q q 0 0 0 rg BT 246.24 93.20 Td (share\) ) Tj ET Q q 0 0 0 rg BT 275.86 93.20 Td (has ) Tj ET Q q 0 0 0 rg BT 293.28 93.20 Td (been ) Tj ET Q q 0 0 0 rg BT 316.79 93.20 Td (incurred ) Tj ET Q q 0 0 0 rg BT 356.19 93.20 Td (through ) Tj ET Q q 0 0 0 rg BT 393.16 93.20 Td (the ) Tj ET Q q 0 0 0 rg BT 409.35 93.20 Td (first ) Tj ET Q q 0 0 0 rg BT 429.82 93.20 Td (nine ) Tj ET Q q 0 0 0 rg BT 451.50 93.20 Td (months ) Tj ET Q q 0 0 0 rg BT 486.65 93.20 Td (of ) Tj ET Q q 0 0 0 rg BT 498.56 93.20 Td (2017.) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 748.40 Td (T) Tj ET Q q 0 0 0 rg BT 55.45 748.40 Td (aking ) Tj ET Q q 0 0 0 rg BT 82.64 748.40 Td (the ) Tj ET Q q 0 0 0 rg BT 98.83 748.40 Td (above ) Tj ET Q q 0 0 0 rg BT 127.84 748.40 Td (factors ) Tj ET Q q 0 0 0 rg BT 160.52 748.40 Td (into ) Tj ET Q q 0 0 0 rg BT 180.38 748.40 Td (consideration, ) Tj ET Q q 0 0 0 rg BT 245.14 748.40 Td (our ) Tj ET Q q 0 0 0 rg BT 262.56 748.40 Td (current ) Tj ET Q q 0 0 0 rg BT 296.45 748.40 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 323.02 748.40 Td (year ) Tj ET Q q 0 0 0 rg BT 344.70 748.40 Td (2017 ) Tj ET Q q 0 0 0 rg BT 369.45 748.40 Td (outlook ) Tj ET Q q 0 0 0 rg BT 405.81 748.40 Td (anticipates:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 723.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 723.20 Td (Net ) Tj ET Q q 0 0 0 rg BT 103.49 723.20 Td (sales ) Tj ET Q q 0 0 0 rg BT 126.99 723.20 Td (growth ) Tj ET Q q 0 0 0 rg BT 160.26 723.20 Td (of ) Tj ET Q q 0 0 0 rg BT 171.53 723.20 Td (approximately ) Tj ET Q q 0 0 0 rg BT 237.18 723.20 Td (3 ) Tj ET Q q 0 0 0 rg BT 244.79 723.20 Td (percent ) Tj ET Q q 0 0 0 rg BT 279.27 723.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 324.74 723.20 Td (to ) Tj ET Q q 0 0 0 rg BT 335.41 723.20 Td (2016, ) Tj ET Q q 0 0 0 rg BT 362.27 723.20 Td (including ) Tj ET Q q 0 0 0 rg BT 405.93 723.20 Td (less ) Tj ET Q q 0 0 0 rg BT 424.54 723.20 Td (than ) Tj ET Q q 0 0 0 rg BT 445.59 723.20 Td (1 ) Tj ET Q q 0 0 0 rg BT 453.21 723.20 Td (percentage ) Tj ET Q q 0 0 0 rg BT 502.95 723.20 Td (point ) Tj ET Q q 0 0 0 rg BT 527.67 723.20 Td (positive ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 710.00 Td (ef) Tj ET Q q 0 0 0 rg BT 93.85 710.00 Td (fect ) Tj ET Q q 0 0 0 rg BT 113.03 710.00 Td (from ) Tj ET Q q 0 0 0 rg BT 137.11 710.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 175.24 710.00 Td (in ) Tj ET Q q 0 0 0 rg BT 186.49 710.00 Td (foreign ) Tj ET Q q 0 0 0 rg BT 220.96 710.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 262.13 710.00 Td (exchange ) Tj ET Q q 0 0 0 rg BT 306.36 710.00 Td (rates, ) Tj ET Q q 0 0 0 rg BT 332.57 710.00 Td (with ) Tj ET Q q 0 0 0 rg BT 354.83 710.00 Td (contributions ) Tj ET Q q 0 0 0 rg BT 415.58 710.00 Td (from ) Tj ET Q q 0 0 0 rg BT 439.66 710.00 Td (three ) Tj ET Q q 0 0 0 rg BT 464.34 710.00 Td (of ) Tj ET Q q 0 0 0 rg BT 476.20 710.00 Td (our ) Tj ET Q q 0 0 0 rg BT 493.57 710.00 Td (four ) Tj ET Q q 0 0 0 rg BT 514.59 710.00 Td (brands ) Tj ET Q q 0 0 0 rg BT 546.62 710.00 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 696.80 Td (all ) Tj ET Q q 0 0 0 rg BT 99.24 696.80 Td (four ) Tj ET Q q 0 0 0 rg BT 120.32 696.80 Td (of ) Tj ET Q q 0 0 0 rg BT 132.23 696.80 Td (our ) Tj ET Q q 0 0 0 rg BT 149.65 696.80 Td (geographic ) Tj ET Q q 0 0 0 rg BT 201.26 696.80 Td (regions: ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 683.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 683.60 Td (low-single-digit ) Tj ET Q q 0 0 0 rg BT 194.79 683.60 Td (percentage ) Tj ET Q q 0 0 0 rg BT 245.43 683.60 Td (net ) Tj ET Q q 0 0 0 rg BT 261.89 683.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 286.29 683.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 320.47 683.60 Td (from ) Tj ET Q q 0 0 0 rg BT 344.86 683.60 Td (the ) Tj ET Q q 0 0 0 rg BT 361.32 683.60 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 407.72 683.60 Td (brand, ) Tj ET Q q 0 0 0 rg BT 438.53 683.60 Td (high-single-digit ) Tj ET Q q 0 0 0 rg BT 514.88 683.60 Td (percentage ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 670.40 Td (net ) Tj ET Q q 0 0 0 rg BT 138.04 670.40 Td (sales ) Tj ET Q q 0 0 0 rg BT 162.52 670.40 Td (growth ) Tj ET Q q 0 0 0 rg BT 196.78 670.40 Td (from ) Tj ET Q q 0 0 0 rg BT 221.26 670.40 Td (the ) Tj ET Q q 0 0 0 rg BT 237.80 670.40 Td (SOREL) Tj ET Q q 0 0 0 rg BT 272.23 670.40 Td ( ) Tj ET Q q 0 0 0 rg BT 275.33 670.40 Td (brand, ) Tj ET Q q 0 0 0 rg BT 306.22 670.40 Td (and ) Tj ET Q q 0 0 0 rg BT 325.20 670.40 Td (low-single-digit ) Tj ET Q q 0 0 0 rg BT 398.57 670.40 Td (percentage ) Tj ET Q q 0 0 0 rg BT 449.30 670.40 Td (net ) Tj ET Q q 0 0 0 rg BT 465.84 670.40 Td (sales ) Tj ET Q q 0 0 0 rg BT 490.32 670.40 Td (growth ) Tj ET Q q 0 0 0 rg BT 524.58 670.40 Td (from ) Tj ET Q q 0 0 0 rg BT 549.07 670.40 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 657.20 Td (prAna ) Tj ET Q q 0 0 0 rg BT 152.23 657.20 Td (brand, ) Tj ET Q q 0 0 0 rg BT 183.28 657.20 Td (partially ) Tj ET Q q 0 0 0 rg BT 223.17 657.20 Td (of) Tj ET Q q 0 0 0 rg BT 232.14 657.20 Td (fset ) Tj ET Q q 0 0 0 rg BT 251.27 657.20 Td (by ) Tj ET Q q 0 0 0 rg BT 265.51 657.20 Td (a ) Tj ET Q q 0 0 0 rg BT 273.64 657.20 Td (low-single-digit ) Tj ET Q q 0 0 0 rg BT 347.16 657.20 Td (percentage ) Tj ET Q q 0 0 0 rg BT 398.03 657.20 Td (decline ) Tj ET Q q 0 0 0 rg BT 433.04 657.20 Td (in ) Tj ET Q q 0 0 0 rg BT 444.84 657.20 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 490.86 657.20 Td (Hardwear ) Tj ET Q q 0 0 0 rg BT 537.47 657.20 Td (brand ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 644.00 Td (net ) Tj ET Q q 0 0 0 rg BT 137.69 644.00 Td (sales.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 630.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 630.80 Td (low-single-digit ) Tj ET Q q 0 0 0 rg BT 196.12 630.80 Td (percentage ) Tj ET Q q 0 0 0 rg BT 248.10 630.80 Td (net ) Tj ET Q q 0 0 0 rg BT 265.88 630.80 Td (sales ) Tj ET Q q 0 0 0 rg BT 291.61 630.80 Td (growth ) Tj ET Q q 0 0 0 rg BT 327.12 630.80 Td (in ) Tj ET Q q 0 0 0 rg BT 340.02 630.80 Td (the ) Tj ET Q q 0 0 0 rg BT 357.81 630.80 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 381.72 630.80 Td (business, ) Tj ET Q q 0 0 0 rg BT 426.10 630.80 Td (consisting ) Tj ET Q q 0 0 0 rg BT 475.06 630.80 Td (of ) Tj ET Q q 0 0 0 rg BT 488.57 630.80 Td (low-double-digit ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 617.60 Td (percentage ) Tj ET Q q 0 0 0 rg BT 171.68 617.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 205.39 617.60 Td (in ) Tj ET Q q 0 0 0 rg BT 216.50 617.60 Td (DTC ) Tj ET Q q 0 0 0 rg BT 241.05 617.60 Td (net ) Tj ET Q q 0 0 0 rg BT 257.03 617.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 280.96 617.60 Td (and ) Tj ET Q q 0 0 0 rg BT 299.40 617.60 Td (a ) Tj ET Q q 0 0 0 rg BT 306.83 617.60 Td (mid-single-digit ) Tj ET Q q 0 0 0 rg BT 380.26 617.60 Td (percentage ) Tj ET Q q 0 0 0 rg BT 430.44 617.60 Td (decline ) Tj ET Q q 0 0 0 rg BT 464.75 617.60 Td (in ) Tj ET Q q 0 0 0 rg BT 475.85 617.60 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 522.38 617.60 Td (net ) Tj ET Q q 0 0 0 rg BT 538.37 617.60 Td (sales. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 604.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 604.40 Td (low-teen ) Tj ET Q q 0 0 0 rg BT 163.87 604.40 Td (percentage ) Tj ET Q q 0 0 0 rg BT 215.38 604.40 Td (net ) Tj ET Q q 0 0 0 rg BT 232.70 604.40 Td (sales ) Tj ET Q q 0 0 0 rg BT 257.96 604.40 Td (growth ) Tj ET Q q 0 0 0 rg BT 293.01 604.40 Td (in ) Tj ET Q q 0 0 0 rg BT 305.45 604.40 Td (the ) Tj ET Q q 0 0 0 rg BT 322.77 604.40 Td (EMEA) Tj ET Q q 0 0 0 rg BT 353.32 604.40 Td ( ) Tj ET Q q 0 0 0 rg BT 357.20 604.40 Td (region ) Tj ET Q q 0 0 0 rg BT 389.19 604.40 Td (\(low-double-digit ) Tj ET Q q 0 0 0 rg BT 470.67 604.40 Td (percentage ) Tj ET Q q 0 0 0 rg BT 522.18 604.40 Td (constant-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 591.20 Td (currency\), ) Tj ET Q q 0 0 0 rg BT 171.24 591.20 Td (with ) Tj ET Q q 0 0 0 rg BT 195.64 591.20 Td (the ) Tj ET Q q 0 0 0 rg BT 213.93 591.20 Td (European ) Tj ET Q q 0 0 0 rg BT 260.92 591.20 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 309.76 591.20 Td (and ) Tj ET Q q 0 0 0 rg BT 330.49 591.20 Td (direct-to-consumer ) Tj ET Q q 0 0 0 rg BT 419.02 591.20 Td (business ) Tj ET Q q 0 0 0 rg BT 461.15 591.20 Td (contributing ) Tj ET Q q 0 0 0 rg BT 519.77 591.20 Td (high ) Tj ET Q q 0 0 0 rg BT 544.18 591.20 Td (teen ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 578.00 Td (percentage ) Tj ET Q q 0 0 0 rg BT 174.28 578.00 Td (growth ) Tj ET Q q 0 0 0 rg BT 210.60 578.00 Td (\(mid-teen ) Tj ET Q q 0 0 0 rg BT 258.51 578.00 Td (percentage ) Tj ET Q q 0 0 0 rg BT 311.29 578.00 Td (constant-currency\) ) Tj ET Q q 0 0 0 rg BT 398.90 578.00 Td (and ) Tj ET Q q 0 0 0 rg BT 419.94 578.00 Td (the ) Tj ET Q q 0 0 0 rg BT 438.53 578.00 Td (EMEA) Tj ET Q q 0 0 0 rg BT 469.08 578.00 Td ( ) Tj ET Q q 0 0 0 rg BT 474.24 578.00 Td (distributor ) Tj ET Q q 0 0 0 rg BT 525.22 578.00 Td (business ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 564.80 Td (contributing ) Tj ET Q q 0 0 0 rg BT 178.02 564.80 Td (mid-single-digit ) Tj ET Q q 0 0 0 rg BT 251.65 564.80 Td (percentage ) Tj ET Q q 0 0 0 rg BT 302.03 564.80 Td (growth.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 551.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 551.60 Td (low-single-digit ) Tj ET Q q 0 0 0 rg BT 193.88 551.60 Td (percentage ) Tj ET Q q 0 0 0 rg BT 243.63 551.60 Td (net ) Tj ET Q q 0 0 0 rg BT 259.18 551.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 282.68 551.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 315.96 551.60 Td (in ) Tj ET Q q 0 0 0 rg BT 326.63 551.60 Td (the ) Tj ET Q q 0 0 0 rg BT 342.18 551.60 Td (LAAP) Tj ET Q q 0 0 0 rg BT 370.50 551.60 Td ( ) Tj ET Q q 0 0 0 rg BT 372.61 551.60 Td (region, ) Tj ET Q q 0 0 0 rg BT 405.58 551.60 Td (consisting ) Tj ET Q q 0 0 0 rg BT 452.31 551.60 Td (of ) Tj ET Q q 0 0 0 rg BT 463.58 551.60 Td (low-20 ) Tj ET Q q 0 0 0 rg BT 496.86 551.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 531.34 551.60 Td (growth ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 538.40 Td (in ) Tj ET Q q 0 0 0 rg BT 132.73 538.40 Td (net ) Tj ET Q q 0 0 0 rg BT 148.85 538.40 Td (sales ) Tj ET Q q 0 0 0 rg BT 172.91 538.40 Td (to ) Tj ET Q q 0 0 0 rg BT 184.14 538.40 Td (LAAP) Tj ET Q q 0 0 0 rg BT 212.46 538.40 Td ( ) Tj ET Q q 0 0 0 rg BT 215.14 538.40 Td (distributors, ) Tj ET Q q 0 0 0 rg BT 270.68 538.40 Td (low-single-digit ) Tj ET Q q 0 0 0 rg BT 343.63 538.40 Td (percentage ) Tj ET Q q 0 0 0 rg BT 393.93 538.40 Td (net ) Tj ET Q q 0 0 0 rg BT 410.05 538.40 Td (sales ) Tj ET Q q 0 0 0 rg BT 434.11 538.40 Td (growth ) Tj ET Q q 0 0 0 rg BT 467.95 538.40 Td (in ) Tj ET Q q 0 0 0 rg BT 479.19 538.40 Td (China ) Tj ET Q q 0 0 0 rg BT 508.14 538.40 Td (\(mid-single-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 525.20 Td (digit ) Tj ET Q q 0 0 0 rg BT 146.02 525.20 Td (percentage ) Tj ET Q q 0 0 0 rg BT 198.01 525.20 Td (constant-currency\), ) Tj ET Q q 0 0 0 rg BT 287.57 525.20 Td (and ) Tj ET Q q 0 0 0 rg BT 307.80 525.20 Td (net ) Tj ET Q q 0 0 0 rg BT 325.60 525.20 Td (sales ) Tj ET Q q 0 0 0 rg BT 351.33 525.20 Td (in ) Tj ET Q q 0 0 0 rg BT 364.24 525.20 Td (Japan ) Tj ET Q q 0 0 0 rg BT 393.64 525.20 Td (comparable ) Tj ET Q q 0 0 0 rg BT 449.30 525.20 Td (to ) Tj ET Q q 0 0 0 rg BT 462.21 525.20 Td (2016 ) Tj ET Q q 0 0 0 rg BT 488.57 525.20 Td (\(low-single-digit ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 512.00 Td (percentage ) Tj ET Q q 0 0 0 rg BT 173.76 512.00 Td (growth ) Tj ET Q q 0 0 0 rg BT 209.55 512.00 Td (constant-currency\), ) Tj ET Q q 0 0 0 rg BT 299.39 512.00 Td (partially ) Tj ET Q q 0 0 0 rg BT 340.67 512.00 Td (of) Tj ET Q q 0 0 0 rg BT 349.63 512.00 Td (fset ) Tj ET Q q 0 0 0 rg BT 370.14 512.00 Td (by ) Tj ET Q q 0 0 0 rg BT 385.77 512.00 Td (a ) Tj ET Q q 0 0 0 rg BT 395.28 512.00 Td (mid-single-digit ) Tj ET Q q 0 0 0 rg BT 470.79 512.00 Td (percentage ) Tj ET Q q 0 0 0 rg BT 523.05 512.00 Td (net ) Tj ET Q q 0 0 0 rg BT 541.12 512.00 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 498.80 Td (decline ) Tj ET Q q 0 0 0 rg BT 156.01 498.80 Td (in ) Tj ET Q q 0 0 0 rg BT 167.32 498.80 Td (Korea ) Tj ET Q q 0 0 0 rg BT 196.94 498.80 Td (\(mid-single-digit ) Tj ET Q q 0 0 0 rg BT 274.23 498.80 Td (percentage ) Tj ET Q q 0 0 0 rg BT 324.61 498.80 Td (constant-currency\).) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 485.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 485.60 Td (mid-single-digit ) Tj ET Q q 0 0 0 rg BT 198.28 485.60 Td (percentage ) Tj ET Q q 0 0 0 rg BT 251.81 485.60 Td (net ) Tj ET Q q 0 0 0 rg BT 271.14 485.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 298.42 485.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 335.48 485.60 Td (in ) Tj ET Q q 0 0 0 rg BT 349.94 485.60 Td (Canada ) Tj ET Q q 0 0 0 rg BT 388.82 485.60 Td (\(low-single-digit ) Tj ET Q q 0 0 0 rg BT 468.65 485.60 Td (percentage ) Tj ET Q q 0 0 0 rg BT 522.18 485.60 Td (constant-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 472.40 Td (currency\).) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 446.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 446.00 Td (Gross ) Tj ET Q q 0 0 0 rg BT 113.17 446.00 Td (mar) Tj ET Q q 0 0 0 rg BT 130.07 446.00 Td (gin ) Tj ET Q q 0 0 0 rg BT 146.13 446.00 Td (expansion ) Tj ET Q q 0 0 0 rg BT 192.73 446.00 Td (of ) Tj ET Q q 0 0 0 rg BT 203.89 446.00 Td (approximately ) Tj ET Q q 0 0 0 rg BT 269.42 446.00 Td (20 ) Tj ET Q q 0 0 0 rg BT 282.42 446.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 306.42 446.00 Td (points ) Tj ET Q q 0 0 0 rg BT 335.32 446.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 380.68 446.00 Td (with ) Tj ET Q q 0 0 0 rg BT 402.24 446.00 Td (gross ) Tj ET Q q 0 0 0 rg BT 427.46 446.00 Td (mar) Tj ET Q q 0 0 0 rg BT 444.36 446.00 Td (gin ) Tj ET Q q 0 0 0 rg BT 460.42 446.00 Td (of ) Tj ET Q q 0 0 0 rg BT 471.58 446.00 Td (46.7 ) Tj ET Q q 0 0 0 rg BT 492.83 446.00 Td (percent ) Tj ET Q q 0 0 0 rg BT 527.20 446.00 Td (in ) Tj ET Q q 0 0 0 rg BT 537.75 446.00 Td (2016, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 432.80 Td (reflecting:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 419.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 419.60 Td (a favorable sourcing cost environment;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 406.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 406.40 Td (favorable channel mix with a greater proportion of DTC net sales; and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 393.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 393.20 Td (favorable foreign currency hedge rates in Japan, Canada and Europe.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 366.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 366.80 Td (SG&A) Tj ET Q q 0 0 0 rg BT 115.45 366.80 Td ( ) Tj ET Q q 0 0 0 rg BT 117.52 366.80 Td (expense ) Tj ET Q q 0 0 0 rg BT 155.02 366.80 Td (growth ) Tj ET Q q 0 0 0 rg BT 188.24 366.80 Td (of ) Tj ET Q q 0 0 0 rg BT 199.47 366.80 Td (approximately ) Tj ET Q q 0 0 0 rg BT 265.08 366.80 Td (5.4 ) Tj ET Q q 0 0 0 rg BT 280.89 366.80 Td (percent ) Tj ET Q q 0 0 0 rg BT 315.32 366.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 360.76 366.80 Td (with ) Tj ET Q q 0 0 0 rg BT 382.38 366.80 Td (2016, ) Tj ET Q q 0 0 0 rg BT 409.20 366.80 Td (resulting ) Tj ET Q q 0 0 0 rg BT 449.76 366.80 Td (in ) Tj ET Q q 0 0 0 rg BT 460.38 366.80 Td (an ) Tj ET Q q 0 0 0 rg BT 472.83 366.80 Td (SG&A) Tj ET Q q 0 0 0 rg BT 502.78 366.80 Td ( ) Tj ET Q q 0 0 0 rg BT 504.85 366.80 Td (expense ) Tj ET Q q 0 0 0 rg BT 542.34 366.80 Td (ratio ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 353.60 Td (of ) Tj ET Q q 0 0 0 rg BT 97.23 353.60 Td (37.2 ) Tj ET Q q 0 0 0 rg BT 119.04 353.60 Td (percent, ) Tj ET Q q 0 0 0 rg BT 156.73 353.60 Td (representing ) Tj ET Q q 0 0 0 rg BT 213.66 353.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 279.76 353.60 Td (80 ) Tj ET Q q 0 0 0 rg BT 293.33 353.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 317.89 353.60 Td (points ) Tj ET Q q 0 0 0 rg BT 347.35 353.60 Td (of ) Tj ET Q q 0 0 0 rg BT 359.08 353.60 Td (deleverage ) Tj ET Q q 0 0 0 rg BT 409.28 353.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 455.21 353.60 Td (with ) Tj ET Q q 0 0 0 rg BT 477.33 353.60 Td (our ) Tj ET Q q 0 0 0 rg BT 494.56 353.60 Td (SG&A) Tj ET Q q 0 0 0 rg BT 524.51 353.60 Td ( ) Tj ET Q q 0 0 0 rg BT 527.08 353.60 Td (expense ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 340.40 Td (ratio ) Tj ET Q q 0 0 0 rg BT 108.41 340.40 Td (of ) Tj ET Q q 0 0 0 rg BT 120.32 340.40 Td (36.4 ) Tj ET Q q 0 0 0 rg BT 142.32 340.40 Td (percent ) Tj ET Q q 0 0 0 rg BT 177.44 340.40 Td (in ) Tj ET Q q 0 0 0 rg BT 188.74 340.40 Td (2016. ) Tj ET Q q 0 0 0 rg BT 216.04 340.40 Td (The ) Tj ET Q q 0 0 0 rg BT 235.90 340.40 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 286.90 340.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 325.68 340.40 Td (in ) Tj ET Q q 0 0 0 rg BT 336.99 340.40 Td (SG&A) Tj ET Q q 0 0 0 rg BT 366.94 340.40 Td ( ) Tj ET Q q 0 0 0 rg BT 369.69 340.40 Td (expense ) Tj ET Q q 0 0 0 rg BT 407.87 340.40 Td (includes:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 327.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 327.20 Td (increased ) Tj ET Q q 0 0 0 rg BT 165.78 327.20 Td (expenses ) Tj ET Q q 0 0 0 rg BT 208.24 327.20 Td (to ) Tj ET Q q 0 0 0 rg BT 219.54 327.20 Td (support ) Tj ET Q q 0 0 0 rg BT 255.29 327.20 Td (continued ) Tj ET Q q 0 0 0 rg BT 301.42 327.20 Td (expansion ) Tj ET Q q 0 0 0 rg BT 348.77 327.20 Td (of ) Tj ET Q q 0 0 0 rg BT 360.69 327.20 Td (the ) Tj ET Q q 0 0 0 rg BT 376.87 327.20 Td (company's ) Tj ET Q q 0 0 0 rg BT 426.21 327.20 Td (global ) Tj ET Q q 0 0 0 rg BT 456.45 327.20 Td (DTC ) Tj ET Q q 0 0 0 rg BT 481.20 327.20 Td (businesses;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 314.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 314.00 Td (program expenses and discrete costs related to Project CONNECT) Tj ET Q q 0 0 0 rg BT 413.53 314.00 Td (;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 300.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 300.80 Td (increased personnel expenses; and) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 103.50 287.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 121.50 287.60 Td (increased demand creation expenses;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 274.40 Td (partially ) Tj ET Q q 0 0 0 rg BT 124.90 274.40 Td (of) Tj ET Q q 0 0 0 rg BT 133.87 274.40 Td (fset ) Tj ET Q q 0 0 0 rg BT 152.50 274.40 Td (by:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 105.50 261.20 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 123.50 261.20 Td (continued cost containment measures.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 248.00 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 234.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 234.80 Td (Licensing ) Tj ET Q q 0 0 0 rg BT 131.63 234.80 Td (income ) Tj ET Q q 0 0 0 rg BT 166.75 234.80 Td (of ) Tj ET Q q 0 0 0 rg BT 178.67 234.80 Td (approximately ) Tj ET Q q 0 0 0 rg BT 244.95 234.80 Td ($13.0 ) Tj ET Q q 0 0 0 rg BT 272.45 234.80 Td (million. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 208.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 208.40 Td (Operating ) Tj ET Q q 0 0 0 rg BT 132.67 208.40 Td (income ) Tj ET Q q 0 0 0 rg BT 168.23 208.40 Td (of ) Tj ET Q q 0 0 0 rg BT 180.58 208.40 Td (between ) Tj ET Q q 0 0 0 rg BT 220.42 208.40 Td (approximately ) Tj ET Q q 0 0 0 rg BT 287.14 208.40 Td ($243 ) Tj ET Q q 0 0 0 rg BT 312.32 208.40 Td (million ) Tj ET Q q 0 0 0 rg BT 347.29 208.40 Td (and ) Tj ET Q q 0 0 0 rg BT 366.36 208.40 Td ($252 ) Tj ET Q q 0 0 0 rg BT 391.55 208.40 Td (million, ) Tj ET Q q 0 0 0 rg BT 429.26 208.40 Td (representing ) Tj ET Q q 0 0 0 rg BT 486.82 208.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 531.54 208.40 Td (mar) Tj ET Q q 0 0 0 rg BT 548.45 208.40 Td (gin ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 195.20 Td (of ) Tj ET Q q 0 0 0 rg BT 96.98 195.20 Td (approximately ) Tj ET Q q 0 0 0 rg BT 162.83 195.20 Td (10.3 ) Tj ET Q q 0 0 0 rg BT 184.39 195.20 Td (percent, ) Tj ET Q q 0 0 0 rg BT 221.82 195.20 Td (including ) Tj ET Q q 0 0 0 rg BT 265.69 195.20 Td (program ) Tj ET Q q 0 0 0 rg BT 305.27 195.20 Td (expenses ) Tj ET Q q 0 0 0 rg BT 347.29 195.20 Td (and ) Tj ET Q q 0 0 0 rg BT 365.49 195.20 Td (discrete ) Tj ET Q q 0 0 0 rg BT 402.01 195.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 426.32 195.20 Td (of ) Tj ET Q q 0 0 0 rg BT 437.80 195.20 Td (approximately ) Tj ET Q q 0 0 0 rg BT 503.65 195.20 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.15 195.20 Td (15.0) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.40 195.20 Td ( ) Tj ET Q q 0 0 0 rg BT 530.72 195.20 Td (million ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 182.00 Td (related ) Tj ET Q q 0 0 0 rg BT 118.52 182.00 Td (to ) Tj ET Q q 0 0 0 rg BT 130.18 182.00 Td (Project ) Tj ET Q q 0 0 0 rg BT 164.43 182.00 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 215.56 182.00 Td (, ) Tj ET Q q 0 0 0 rg BT 221.41 182.00 Td (of ) Tj ET Q q 0 0 0 rg BT 233.67 182.00 Td (which ) Tj ET Q q 0 0 0 rg BT 263.65 182.00 Td (approximately ) Tj ET Q q 0 0 0 rg BT 330.29 182.00 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 335.79 182.00 Td (8.6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 349.54 182.00 Td ( ) Tj ET Q q 0 0 0 rg BT 352.64 182.00 Td (million ) Tj ET Q q 0 0 0 rg BT 387.52 182.00 Td (has ) Tj ET Q q 0 0 0 rg BT 405.28 182.00 Td (been ) Tj ET Q q 0 0 0 rg BT 429.14 182.00 Td (incurred ) Tj ET Q q 0 0 0 rg BT 468.89 182.00 Td (through ) Tj ET Q q 0 0 0 rg BT 506.21 182.00 Td (the ) Tj ET Q q 0 0 0 rg BT 522.74 182.00 Td (first ) Tj ET Q q 0 0 0 rg BT 543.56 182.00 Td (nine ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 168.80 Td (months ) Tj ET Q q 0 0 0 rg BT 120.64 168.80 Td (of ) Tj ET Q q 0 0 0 rg BT 132.56 168.80 Td (2017.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 142.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 142.40 Td (Non-operating ) Tj ET Q q 0 0 0 rg BT 152.76 142.40 Td (income ) Tj ET Q q 0 0 0 rg BT 188.24 142.40 Td (of ) Tj ET Q q 0 0 0 rg BT 200.51 142.40 Td (approximately ) Tj ET Q q 0 0 0 rg BT 267.16 142.40 Td ($4.0 ) Tj ET Q q 0 0 0 rg BT 289.51 142.40 Td (million ) Tj ET Q q 0 0 0 rg BT 324.40 142.40 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 369.65 142.40 Td (increased ) Tj ET Q q 0 0 0 rg BT 414.29 142.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 449.78 142.40 Td (income ) Tj ET Q q 0 0 0 rg BT 485.26 142.40 Td (on ) Tj ET Q q 0 0 0 rg BT 499.37 142.40 Td (the ) Tj ET Q q 0 0 0 rg BT 515.92 142.40 Td (company's ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 129.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 107.19 129.20 Td (balances ) Tj ET Q q 0 0 0 rg BT 147.19 129.20 Td (and ) Tj ET Q q 0 0 0 rg BT 165.22 129.20 Td (lower ) Tj ET Q q 0 0 0 rg BT 192.41 129.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 226.92 129.20 Td (expense ) Tj ET Q q 0 0 0 rg BT 264.49 129.20 Td (due ) Tj ET Q q 0 0 0 rg BT 282.52 129.20 Td (to ) Tj ET Q q 0 0 0 rg BT 293.22 129.20 Td (the ) Tj ET Q q 0 0 0 rg BT 308.80 129.20 Td (repayment ) Tj ET Q q 0 0 0 rg BT 357.36 129.20 Td (of ) Tj ET Q q 0 0 0 rg BT 368.66 129.20 Td (the ) Tj ET Q q 0 0 0 rg BT 384.24 129.20 Td (China ) Tj ET Q q 0 0 0 rg BT 412.66 129.20 Td (joint ) Tj ET Q q 0 0 0 rg BT 434.97 129.20 Td (venture's ) Tj ET Q q 0 0 0 rg BT 476.36 129.20 Td (note ) Tj ET Q q 0 0 0 rg BT 497.44 129.20 Td (payable ) Tj ET Q q 0 0 0 rg BT 533.78 129.20 Td (during ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 116.00 Td (the ) Tj ET Q q 0 0 0 rg BT 101.69 116.00 Td (second ) Tj ET Q q 0 0 0 rg BT 134.98 116.00 Td (quarter ) Tj ET Q q 0 0 0 rg BT 168.88 116.00 Td (of ) Tj ET Q q 0 0 0 rg BT 180.79 116.00 Td (2017.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 89.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 89.60 Td (An ) Tj ET Q q 0 0 0 rg BT 102.12 89.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 147.45 89.60 Td (full-year ) Tj ET Q q 0 0 0 rg BT 188.49 89.60 Td (ef) Tj ET Q q 0 0 0 rg BT 196.84 89.60 Td (fective ) Tj ET Q q 0 0 0 rg BT 229.93 89.60 Td (income ) Tj ET Q q 0 0 0 rg BT 265.49 89.60 Td (tax ) Tj ET Q q 0 0 0 rg BT 282.10 89.60 Td (rate ) Tj ET Q q 0 0 0 rg BT 301.76 89.60 Td (of ) Tj ET Q q 0 0 0 rg BT 314.10 89.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 380.81 89.60 Td (23.0 ) Tj ET Q q 0 0 0 rg BT 403.24 89.60 Td (percent. ) Tj ET Q q 0 0 0 rg BT 441.30 89.60 Td (The ) Tj ET Q q 0 0 0 rg BT 461.58 89.60 Td (actual ) Tj ET Q q 0 0 0 rg BT 491.01 89.60 Td (rate ) Tj ET Q q 0 0 0 rg BT 510.67 89.60 Td (could ) Tj ET Q q 0 0 0 rg BT 538.29 89.60 Td (dif) Tj ET Q q 0 0 0 rg BT 550.31 89.60 Td (fer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 76.40 Td (based ) Tj ET Q q 0 0 0 rg BT 113.66 76.40 Td (on ) Tj ET Q q 0 0 0 rg BT 127.78 76.40 Td (the ) Tj ET Q q 0 0 0 rg BT 144.34 76.40 Td (geographic ) Tj ET Q q 0 0 0 rg BT 196.32 76.40 Td (mix ) Tj ET Q q 0 0 0 rg BT 216.55 76.40 Td (of ) Tj ET Q q 0 0 0 rg BT 228.83 76.40 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 263.10 76.40 Td (income ) Tj ET Q q 0 0 0 rg BT 298.59 76.40 Td (and ) Tj ET Q q 0 0 0 rg BT 317.60 76.40 Td (the ) Tj ET Q q 0 0 0 rg BT 334.15 76.40 Td (impact ) Tj ET Q q 0 0 0 rg BT 367.20 76.40 Td (of ) Tj ET Q q 0 0 0 rg BT 379.48 76.40 Td (discrete ) Tj ET Q q 0 0 0 rg BT 416.81 76.40 Td (events ) Tj ET Q q 0 0 0 rg BT 448.03 76.40 Td (that ) Tj ET Q q 0 0 0 rg BT 467.64 76.40 Td (may ) Tj ET Q q 0 0 0 rg BT 489.69 76.40 Td (occur ) Tj ET Q q 0 0 0 rg BT 517.24 76.40 Td (during ) Tj ET Q q 0 0 0 rg BT 549.08 76.40 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 63.20 Td (year) Tj ET Q q 0 0 0 rg BT 103.82 63.20 Td (.) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (6) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 748.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 748.40 Td (Net ) Tj ET Q q 0 0 0 rg BT 102.82 748.40 Td (income ) Tj ET Q q 0 0 0 rg BT 136.64 748.40 Td (between ) Tj ET Q q 0 0 0 rg BT 174.73 748.40 Td (approximately ) Tj ET Q q 0 0 0 rg BT 239.70 748.40 Td ($183 ) Tj ET Q q 0 0 0 rg BT 263.15 748.40 Td (million ) Tj ET Q q 0 0 0 rg BT 296.37 748.40 Td (and ) Tj ET Q q 0 0 0 rg BT 313.69 748.40 Td ($190 ) Tj ET Q q 0 0 0 rg BT 337.13 748.40 Td (million, ) Tj ET Q q 0 0 0 rg BT 373.10 748.40 Td (or ) Tj ET Q q 0 0 0 rg BT 383.71 748.40 Td ($2.60 ) Tj ET Q q 0 0 0 rg BT 409.90 748.40 Td (to ) Tj ET Q q 0 0 0 rg BT 419.90 748.40 Td ($2.70 ) Tj ET Q q 0 0 0 rg BT 446.09 748.40 Td (per ) Tj ET Q q 0 0 0 rg BT 461.57 748.40 Td (diluted ) Tj ET Q q 0 0 0 rg BT 493.56 748.40 Td (share, ) Tj ET Q q 0 0 0 rg BT 520.96 748.40 Td (including ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 735.20 Td (program ) Tj ET Q q 0 0 0 rg BT 124.59 735.20 Td (expenses ) Tj ET Q q 0 0 0 rg BT 166.13 735.20 Td (and ) Tj ET Q q 0 0 0 rg BT 183.83 735.20 Td (discrete ) Tj ET Q q 0 0 0 rg BT 219.86 735.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 243.69 735.20 Td (of ) Tj ET Q q 0 0 0 rg BT 254.68 735.20 Td (approximately ) Tj ET Q q 0 0 0 rg BT 320.04 735.20 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.54 735.20 Td (9.5) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 339.29 735.20 Td ( ) Tj ET Q q 0 0 0 rg BT 341.12 735.20 Td (million ) Tj ET Q q 0 0 0 rg BT 374.72 735.20 Td (net ) Tj ET Q q 0 0 0 rg BT 389.99 735.20 Td (of ) Tj ET Q q 0 0 0 rg BT 400.98 735.20 Td (tax, ) Tj ET Q q 0 0 0 rg BT 418.99 735.20 Td (or ) Tj ET Q q 0 0 0 rg BT 429.98 735.20 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.48 735.20 Td (0.14) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.73 735.20 Td ( ) Tj ET Q q 0 0 0 rg BT 456.56 735.20 Td (per ) Tj ET Q q 0 0 0 rg BT 472.43 735.20 Td (diluted ) Tj ET Q q 0 0 0 rg BT 504.81 735.20 Td (share, ) Tj ET Q q 0 0 0 rg BT 532.59 735.20 Td (related ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 722.00 Td (to ) Tj ET Q q 0 0 0 rg BT 97.62 722.00 Td (Project ) Tj ET Q q 0 0 0 rg BT 132.35 722.00 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 183.48 722.00 Td (, ) Tj ET Q q 0 0 0 rg BT 189.79 722.00 Td (of ) Tj ET Q q 0 0 0 rg BT 202.53 722.00 Td (which ) Tj ET Q q 0 0 0 rg BT 232.98 722.00 Td (approximately ) Tj ET Q q 0 0 0 rg BT 300.08 722.00 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 305.58 722.00 Td (5.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 319.33 722.00 Td ( ) Tj ET Q q 0 0 0 rg BT 322.90 722.00 Td (million, ) Tj ET Q q 0 0 0 rg BT 361.00 722.00 Td (or ) Tj ET Q q 0 0 0 rg BT 373.73 722.00 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 379.23 722.00 Td (0.08) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 398.48 722.00 Td ( ) Tj ET Q q 0 0 0 rg BT 402.04 722.00 Td (per ) Tj ET Q q 0 0 0 rg BT 419.66 722.00 Td (diluted ) Tj ET Q q 0 0 0 rg BT 453.78 722.00 Td (share, ) Tj ET Q q 0 0 0 rg BT 483.30 722.00 Td (has ) Tj ET Q q 0 0 0 rg BT 501.53 722.00 Td (been ) Tj ET Q q 0 0 0 rg BT 525.87 722.00 Td (incurred ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 708.80 Td (through ) Tj ET Q q 0 0 0 rg BT 122.47 708.80 Td (the ) Tj ET Q q 0 0 0 rg BT 138.66 708.80 Td (first ) Tj ET Q q 0 0 0 rg BT 159.13 708.80 Td (nine ) Tj ET Q q 0 0 0 rg BT 180.82 708.80 Td (months ) Tj ET Q q 0 0 0 rg BT 215.96 708.80 Td (of ) Tj ET Q q 0 0 0 rg BT 227.87 708.80 Td (2017.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 683.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 683.60 Td (The ) Tj ET Q q 0 0 0 rg BT 106.26 683.60 Td (above ) Tj ET Q q 0 0 0 rg BT 136.18 683.60 Td (full ) Tj ET Q q 0 0 0 rg BT 155.11 683.60 Td (year ) Tj ET Q q 0 0 0 rg BT 177.70 683.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 219.84 683.60 Td (outlook ) Tj ET Q q 0 0 0 rg BT 257.11 683.60 Td (contemplates ) Tj ET Q q 0 0 0 rg BT 318.80 683.60 Td (mid-single-digit ) Tj ET Q q 0 0 0 rg BT 393.34 683.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 429.36 683.60 Td (net ) Tj ET Q q 0 0 0 rg BT 446.46 683.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 471.50 683.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 506.32 683.60 Td (in ) Tj ET Q q 0 0 0 rg BT 518.53 683.60 Td (the ) Tj ET Q q 0 0 0 rg BT 535.63 683.60 Td (fourth ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 670.40 Td (quarter) Tj ET Q q 0 0 0 rg BT 116.21 670.40 Td (, ) Tj ET Q q 0 0 0 rg BT 121.40 670.40 Td (and ) Tj ET Q q 0 0 0 rg BT 139.72 670.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 183.69 670.40 Td (mar) Tj ET Q q 0 0 0 rg BT 200.60 670.40 Td (gin ) Tj ET Q q 0 0 0 rg BT 217.09 670.40 Td (deleverage ) Tj ET Q q 0 0 0 rg BT 267.16 670.40 Td (of ) Tj ET Q q 0 0 0 rg BT 278.76 670.40 Td (approximately ) Tj ET Q q 0 0 0 rg BT 344.74 670.40 Td (100 ) Tj ET Q q 0 0 0 rg BT 363.67 670.40 Td (basis ) Tj ET Q q 0 0 0 rg BT 388.11 670.40 Td (points, ) Tj ET Q q 0 0 0 rg BT 420.19 670.40 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 464.77 670.40 Td (program ) Tj ET Q q 0 0 0 rg BT 504.48 670.40 Td (expenses ) Tj ET Q q 0 0 0 rg BT 546.62 670.40 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 657.20 Td (discrete ) Tj ET Q q 0 0 0 rg BT 122.78 657.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 147.85 657.20 Td (associated ) Tj ET Q q 0 0 0 rg BT 196.13 657.20 Td (with ) Tj ET Q q 0 0 0 rg BT 218.76 657.20 Td (Project ) Tj ET Q q 0 0 0 rg BT 253.00 657.20 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 304.74 657.20 Td ( ) Tj ET Q q 0 0 0 rg BT 307.82 657.20 Td (of ) Tj ET Q q 0 0 0 rg BT 320.05 657.20 Td (approximately ) Tj ET Q q 0 0 0 rg BT 386.66 657.20 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 392.16 657.20 Td (6.4) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 405.91 657.20 Td ( ) Tj ET Q q 0 0 0 rg BT 408.99 657.20 Td (million ) Tj ET Q q 0 0 0 rg BT 443.85 657.20 Td (and ) Tj ET Q q 0 0 0 rg BT 462.80 657.20 Td (a ) Tj ET Q q 0 0 0 rg BT 470.76 657.20 Td (shift ) Tj ET Q q 0 0 0 rg BT 493.39 657.20 Td (in ) Tj ET Q q 0 0 0 rg BT 505.02 657.20 Td (the ) Tj ET Q q 0 0 0 rg BT 521.54 657.20 Td (timing ) Tj ET Q q 0 0 0 rg BT 553.34 657.20 Td (of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 644.00 Td (demand-creation ) Tj ET Q q 0 0 0 rg BT 161.93 644.00 Td (spending ) Tj ET Q q 0 0 0 rg BT 204.16 644.00 Td (from ) Tj ET Q q 0 0 0 rg BT 228.06 644.00 Td (the ) Tj ET Q q 0 0 0 rg BT 244.02 644.00 Td (third ) Tj ET Q q 0 0 0 rg BT 267.32 644.00 Td (quarter ) Tj ET Q q 0 0 0 rg BT 300.98 644.00 Td (into ) Tj ET Q q 0 0 0 rg BT 320.61 644.00 Td (the ) Tj ET Q q 0 0 0 rg BT 336.57 644.00 Td (fourth ) Tj ET Q q 0 0 0 rg BT 365.97 644.00 Td (quarter) Tj ET Q q 0 0 0 rg BT 396.51 644.00 Td (. ) Tj ET Q q 0 0 0 rg BT 401.78 644.00 Td (Project ) Tj ET Q q 0 0 0 rg BT 435.46 644.00 Td (CONNECT) Tj ET Q q 0 0 0 rg BT 487.20 644.00 Td ( ) Tj ET Q q 0 0 0 rg BT 489.72 644.00 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 540.50 644.00 Td (costs ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 630.80 Td (for ) Tj ET Q q 0 0 0 rg BT 101.14 630.80 Td (the ) Tj ET Q q 0 0 0 rg BT 117.40 630.80 Td (fourth ) Tj ET Q q 0 0 0 rg BT 147.09 630.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 181.06 630.80 Td (are ) Tj ET Q q 0 0 0 rg BT 197.30 630.80 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 241.04 630.80 Td (given ) Tj ET Q q 0 0 0 rg BT 268.29 630.80 Td (the ) Tj ET Q q 0 0 0 rg BT 284.55 630.80 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 323.42 630.80 Td (nature ) Tj ET Q q 0 0 0 rg BT 353.72 630.80 Td (of ) Tj ET Q q 0 0 0 rg BT 365.70 630.80 Td (the ) Tj ET Q q 0 0 0 rg BT 381.95 630.80 Td (project, ) Tj ET Q q 0 0 0 rg BT 418.06 630.80 Td (and ) Tj ET Q q 0 0 0 rg BT 436.76 630.80 Td (pending ) Tj ET Q q 0 0 0 rg BT 475.01 630.80 Td (decisions ) Tj ET Q q 0 0 0 rg BT 518.77 630.80 Td (that ) Tj ET Q q 0 0 0 rg BT 538.08 630.80 Td (could ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 617.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 118.18 617.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 159.41 617.60 Td (results.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 592.40 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 592.40 Td (Capital ) Tj ET Q q 0 0 0 rg BT 121.64 592.40 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 182.21 592.40 Td (of ) Tj ET Q q 0 0 0 rg BT 195.75 592.40 Td (approximately ) Tj ET Q q 0 0 0 rg BT 263.65 592.40 Td ($60 ) Tj ET Q q 0 0 0 rg BT 284.52 592.40 Td (million, ) Tj ET Q q 0 0 0 rg BT 323.42 592.40 Td (comprising ) Tj ET Q q 0 0 0 rg BT 377.28 592.40 Td (investments ) Tj ET Q q 0 0 0 rg BT 434.20 592.40 Td (in ) Tj ET Q q 0 0 0 rg BT 447.13 592.40 Td (DTC ) Tj ET Q q 0 0 0 rg BT 473.50 592.40 Td (business ) Tj ET Q q 0 0 0 rg BT 515.15 592.40 Td (expansion, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 579.20 Td (information ) Tj ET Q q 0 0 0 rg BT 140.18 579.20 Td (technology ) Tj ET Q q 0 0 0 rg BT 191.81 579.20 Td (and ) Tj ET Q q 0 0 0 rg BT 210.44 579.20 Td (project-based ) Tj ET Q q 0 0 0 rg BT 272.44 579.20 Td (and ) Tj ET Q q 0 0 0 rg BT 291.07 579.20 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 349.40 579.20 Td (capital.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 552.80 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 552.80 Td (Full ) Tj ET Q q 0 0 0 rg BT 105.98 552.80 Td (year ) Tj ET Q q 0 0 0 rg BT 127.66 552.80 Td (free ) Tj ET Q q 0 0 0 rg BT 147.50 552.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 169.79 552.80 Td (flow ) Tj ET Q q 0 0 0 rg BT 192.71 552.80 Td (totaling ) Tj ET Q q 0 0 0 rg BT 229.06 552.80 Td (approximately ) Tj ET Q q 0 0 0 rg BT 295.35 552.80 Td ($175 ) Tj ET Q q 0 0 0 rg BT 320.10 552.80 Td (million ) Tj ET Q q 0 0 0 rg BT 354.63 552.80 Td (to ) Tj ET Q q 0 0 0 rg BT 365.94 552.80 Td ($200 ) Tj ET Q q 0 0 0 rg BT 390.69 552.80 Td (million.) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 49.5 524.678564453125 m 545.1015625 524.678564453125 l s q 0 0 0 rg BT 49.50 526.40 Td (Commencement ) Tj ET Q q 0 0 0 rg BT 128.61 526.40 Td (of ) Tj ET Q q 0 0 0 rg BT 140.52 526.40 Td (Global ) Tj ET Q q 0 0 0 rg BT 175.06 526.40 Td (Retail ) Tj ET Q q 0 0 0 rg BT 205.91 526.40 Td (Platform ) Tj ET Q q 0 0 0 rg BT 250.81 526.40 Td (Initiative ) Tj ET Q q 0 0 0 rg BT 296.33 526.40 Td (and ) Tj ET Q q 0 0 0 rg BT 316.82 526.40 Td (Update ) Tj ET Q q 0 0 0 rg BT 353.79 526.40 Td (on ) Tj ET Q q 0 0 0 rg BT 368.16 526.40 Td (Ongoing ) Tj ET Q q 0 0 0 rg BT 411.26 526.40 Td (Global ) Tj ET Q q 0 0 0 rg BT 445.80 526.40 Td (ERP) Tj ET Q q 0 0 0 rg BT 467.19 526.40 Td ( ) Tj ET Q q 0 0 0 rg BT 469.94 526.40 Td (Implementation) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 513.20 Td (During ) Tj ET Q q 0 0 0 rg BT 83.65 513.20 Td (the ) Tj ET Q q 0 0 0 rg BT 100.08 513.20 Td (second ) Tj ET Q q 0 0 0 rg BT 133.61 513.20 Td (quarter ) Tj ET Q q 0 0 0 rg BT 167.75 513.20 Td (of ) Tj ET Q q 0 0 0 rg BT 179.90 513.20 Td (2017, ) Tj ET Q q 0 0 0 rg BT 207.63 513.20 Td (we ) Tj ET Q q 0 0 0 rg BT 223.45 513.20 Td (commenced ) Tj ET Q q 0 0 0 rg BT 279.58 513.20 Td (an ) Tj ET Q q 0 0 0 rg BT 292.95 513.20 Td (initiative ) Tj ET Q q 0 0 0 rg BT 335.04 513.20 Td (to ) Tj ET Q q 0 0 0 rg BT 346.58 513.20 Td (invest ) Tj ET Q q 0 0 0 rg BT 375.84 513.20 Td (in ) Tj ET Q q 0 0 0 rg BT 387.39 513.20 Td (a ) Tj ET Q q 0 0 0 rg BT 395.26 513.20 Td (global ) Tj ET Q q 0 0 0 rg BT 425.74 513.20 Td (retail ) Tj ET Q q 0 0 0 rg BT 451.32 513.20 Td (platform ) Tj ET Q q 0 0 0 rg BT 492.19 513.20 Td (\("GRP"\), ) Tj ET Q q 0 0 0 rg BT 535.63 513.20 Td (which ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 500.00 Td (encompasses ) Tj ET Q q 0 0 0 rg BT 109.39 500.00 Td (the ) Tj ET Q q 0 0 0 rg BT 125.30 500.00 Td (IT) Tj ET Q q 0 0 0 rg BT 135.48 500.00 Td ( ) Tj ET Q q 0 0 0 rg BT 137.95 500.00 Td (systems ) Tj ET Q q 0 0 0 rg BT 175.25 500.00 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 236.96 500.00 Td (to ) Tj ET Q q 0 0 0 rg BT 247.98 500.00 Td (support ) Tj ET Q q 0 0 0 rg BT 283.45 500.00 Td (the ) Tj ET Q q 0 0 0 rg BT 299.35 500.00 Td (growth ) Tj ET Q q 0 0 0 rg BT 332.98 500.00 Td (and ) Tj ET Q q 0 0 0 rg BT 351.33 500.00 Td (expansion ) Tj ET Q q 0 0 0 rg BT 398.40 500.00 Td (of ) Tj ET Q q 0 0 0 rg BT 410.02 500.00 Td (our ) Tj ET Q q 0 0 0 rg BT 427.15 500.00 Td (direct-to-consumer ) Tj ET Q q 0 0 0 rg BT 513.30 500.00 Td (businesses. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 486.80 Td (The ) Tj ET Q q 0 0 0 rg BT 69.41 486.80 Td (objective ) Tj ET Q q 0 0 0 rg BT 112.54 486.80 Td (of ) Tj ET Q q 0 0 0 rg BT 124.52 486.80 Td (this ) Tj ET Q q 0 0 0 rg BT 143.23 486.80 Td (initiative ) Tj ET Q q 0 0 0 rg BT 185.14 486.80 Td (is ) Tj ET Q q 0 0 0 rg BT 195.29 486.80 Td (to ) Tj ET Q q 0 0 0 rg BT 206.66 486.80 Td (deliver ) Tj ET Q q 0 0 0 rg BT 240.01 486.80 Td (an ) Tj ET Q q 0 0 0 rg BT 253.21 486.80 Td (improved ) Tj ET Q q 0 0 0 rg BT 298.18 486.80 Td (consumer ) Tj ET Q q 0 0 0 rg BT 343.76 486.80 Td (experience, ) Tj ET Q q 0 0 0 rg BT 396.95 486.80 Td (and ) Tj ET Q q 0 0 0 rg BT 415.64 486.80 Td (to ) Tj ET Q q 0 0 0 rg BT 427.01 486.80 Td (modernize ) Tj ET Q q 0 0 0 rg BT 476.25 486.80 Td (and ) Tj ET Q q 0 0 0 rg BT 494.94 486.80 Td (standardize ) Tj ET Q q 0 0 0 rg BT 547.84 486.80 Td (our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 473.60 Td (processes ) Tj ET Q q 0 0 0 rg BT 95.36 473.60 Td (and ) Tj ET Q q 0 0 0 rg BT 114.95 473.60 Td (systems ) Tj ET Q q 0 0 0 rg BT 153.50 473.60 Td (to ) Tj ET Q q 0 0 0 rg BT 165.77 473.60 Td (enable ) Tj ET Q q 0 0 0 rg BT 198.18 473.60 Td (us ) Tj ET Q q 0 0 0 rg BT 211.67 473.60 Td (to ) Tj ET Q q 0 0 0 rg BT 223.94 473.60 Td (better ) Tj ET Q q 0 0 0 rg BT 252.69 473.60 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 299.15 473.60 Td (and ) Tj ET Q q 0 0 0 rg BT 318.74 473.60 Td (deliver ) Tj ET Q q 0 0 0 rg BT 352.99 473.60 Td (against ) Tj ET Q q 0 0 0 rg BT 387.86 473.60 Td (the ) Tj ET Q q 0 0 0 rg BT 405.01 473.60 Td (needs ) Tj ET Q q 0 0 0 rg BT 433.77 473.60 Td (of ) Tj ET Q q 0 0 0 rg BT 446.64 473.60 Td (our ) Tj ET Q q 0 0 0 rg BT 465.01 473.60 Td (consumers. ) Tj ET Q q 0 0 0 rg BT 518.25 473.60 Td (This ) Tj ET Q q 0 0 0 rg BT 541.51 473.60 Td (GRP) Tj ET Q q 0 0 0 rg BT 562.50 473.60 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 460.40 Td (initiative ) Tj ET Q q 0 0 0 rg BT 91.15 460.40 Td (is ) Tj ET Q q 0 0 0 rg BT 101.04 460.40 Td (currently ) Tj ET Q q 0 0 0 rg BT 143.30 460.40 Td (in ) Tj ET Q q 0 0 0 rg BT 154.41 460.40 Td (the ) Tj ET Q q 0 0 0 rg BT 170.40 460.40 Td (early ) Tj ET Q q 0 0 0 rg BT 194.94 460.40 Td (design ) Tj ET Q q 0 0 0 rg BT 226.21 460.40 Td (phase, ) Tj ET Q q 0 0 0 rg BT 256.56 460.40 Td (tar) Tj ET Q q 0 0 0 rg BT 267.96 460.40 Td (geting ) Tj ET Q q 0 0 0 rg BT 298.01 460.40 Td (regional ) Tj ET Q q 0 0 0 rg BT 336.60 460.40 Td (implementations ) Tj ET Q q 0 0 0 rg BT 412.47 460.40 Td (beginning ) Tj ET Q q 0 0 0 rg BT 459.02 460.40 Td (in ) Tj ET Q q 0 0 0 rg BT 470.13 460.40 Td (the ) Tj ET Q q 0 0 0 rg BT 486.12 460.40 Td (first ) Tj ET Q q 0 0 0 rg BT 506.39 460.40 Td (half ) Tj ET Q q 0 0 0 rg BT 526.05 460.40 Td (of ) Tj ET Q q 0 0 0 rg BT 537.76 460.40 Td (2019.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 434.00 Td (In ) Tj ET Q q 0 0 0 rg BT 60.86 434.00 Td (addition, ) Tj ET Q q 0 0 0 rg BT 101.86 434.00 Td (we ) Tj ET Q q 0 0 0 rg BT 116.89 434.00 Td (are ) Tj ET Q q 0 0 0 rg BT 132.52 434.00 Td (continuing ) Tj ET Q q 0 0 0 rg BT 181.77 434.00 Td (to ) Tj ET Q q 0 0 0 rg BT 192.52 434.00 Td (invest ) Tj ET Q q 0 0 0 rg BT 221.00 434.00 Td (in ) Tj ET Q q 0 0 0 rg BT 231.75 434.00 Td (our ) Tj ET Q q 0 0 0 rg BT 248.62 434.00 Td (multi-year ) Tj ET Q q 0 0 0 rg BT 296.63 434.00 Td (global ) Tj ET Q q 0 0 0 rg BT 326.33 434.00 Td (enterprise ) Tj ET Q q 0 0 0 rg BT 371.89 434.00 Td (resource ) Tj ET Q q 0 0 0 rg BT 411.35 434.00 Td (planning ) Tj ET Q q 0 0 0 rg BT 452.04 434.00 Td (\("ERP"\) ) Tj ET Q q 0 0 0 rg BT 490.72 434.00 Td (implementation, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 420.80 Td (which ) Tj ET Q q 0 0 0 rg BT 79.18 420.80 Td (has ) Tj ET Q q 0 0 0 rg BT 96.64 420.80 Td (been ) Tj ET Q q 0 0 0 rg BT 120.21 420.80 Td (executed ) Tj ET Q q 0 0 0 rg BT 162.09 420.80 Td (in ) Tj ET Q q 0 0 0 rg BT 173.44 420.80 Td (the ) Tj ET Q q 0 0 0 rg BT 189.68 420.80 Td (majority ) Tj ET Q q 0 0 0 rg BT 229.75 420.80 Td (of ) Tj ET Q q 0 0 0 rg BT 241.71 420.80 Td (our ) Tj ET Q q 0 0 0 rg BT 259.17 420.80 Td (operations ) Tj ET Q q 0 0 0 rg BT 307.79 420.80 Td (to ) Tj ET Q q 0 0 0 rg BT 319.15 420.80 Td (date. ) Tj ET Q q 0 0 0 rg BT 342.81 420.80 Td (W) Tj ET Q q 0 0 0 rg BT 352.31 420.80 Td (e ) Tj ET Q q 0 0 0 rg BT 359.99 420.80 Td (plan ) Tj ET Q q 0 0 0 rg BT 381.73 420.80 Td (to ) Tj ET Q q 0 0 0 rg BT 393.09 420.80 Td (transition ) Tj ET Q q 0 0 0 rg BT 437.43 420.80 Td (our ) Tj ET Q q 0 0 0 rg BT 454.90 420.80 Td (European ) Tj ET Q q 0 0 0 rg BT 499.84 420.80 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 546.62 420.80 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 407.60 Td (direct-to-consumer ) Tj ET Q q 0 0 0 rg BT 135.94 407.60 Td (business ) Tj ET Q q 0 0 0 rg BT 175.97 407.60 Td (onto ) Tj ET Q q 0 0 0 rg BT 198.27 407.60 Td (the ) Tj ET Q q 0 0 0 rg BT 214.46 407.60 Td (system ) Tj ET Q q 0 0 0 rg BT 247.77 407.60 Td (in ) Tj ET Q q 0 0 0 rg BT 259.07 407.60 Td (mid-2018.) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 49.5 379.478564453125 m 141.1494140625 379.478564453125 l s q 0 0 0 rg BT 49.50 381.20 Td (Pr) Tj ET Q q 0 0 0 rg BT 60.90 381.20 Td (oject ) Tj ET Q q 0 0 0 rg BT 86.24 381.20 Td (CONNECT) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 368.00 Td (As ) Tj ET Q q 0 0 0 rg BT 64.41 368.00 Td (part ) Tj ET Q q 0 0 0 rg BT 84.20 368.00 Td (of ) Tj ET Q q 0 0 0 rg BT 96.05 368.00 Td (the ) Tj ET Q q 0 0 0 rg BT 112.18 368.00 Td (company's ) Tj ET Q q 0 0 0 rg BT 161.45 368.00 Td (commitment ) Tj ET Q q 0 0 0 rg BT 219.73 368.00 Td (to ) Tj ET Q q 0 0 0 rg BT 230.98 368.00 Td (relentless ) Tj ET Q q 0 0 0 rg BT 275.21 368.00 Td (improvement, ) Tj ET Q q 0 0 0 rg BT 339.29 368.00 Td (the ) Tj ET Q q 0 0 0 rg BT 355.42 368.00 Td (senior ) Tj ET Q q 0 0 0 rg BT 384.99 368.00 Td (management ) Tj ET Q q 0 0 0 rg BT 443.87 368.00 Td (team ) Tj ET Q q 0 0 0 rg BT 467.94 368.00 Td (undertook ) Tj ET Q q 0 0 0 rg BT 515.23 368.00 Td (a ) Tj ET Q q 0 0 0 rg BT 522.80 368.00 Td (thorough ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 354.80 Td (assessment ) Tj ET Q q 0 0 0 rg BT 102.15 354.80 Td (of ) Tj ET Q q 0 0 0 rg BT 115.09 354.80 Td (the ) Tj ET Q q 0 0 0 rg BT 132.30 354.80 Td (company's ) Tj ET Q q 0 0 0 rg BT 182.66 354.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 227.97 354.80 Td (model ) Tj ET Q q 0 0 0 rg BT 259.23 354.80 Td (to ) Tj ET Q q 0 0 0 rg BT 271.56 354.80 Td (ensure ) Tj ET Q q 0 0 0 rg BT 304.04 354.80 Td (that ) Tj ET Q q 0 0 0 rg BT 324.31 354.80 Td (the ) Tj ET Q q 0 0 0 rg BT 341.52 354.80 Td (business ) Tj ET Q q 0 0 0 rg BT 382.57 354.80 Td (is ) Tj ET Q q 0 0 0 rg BT 393.68 354.80 Td (aligned ) Tj ET Q q 0 0 0 rg BT 429.83 354.80 Td (and ) Tj ET Q q 0 0 0 rg BT 449.48 354.80 Td (or) Tj ET Q q 0 0 0 rg BT 458.45 354.80 Td (ganized ) Tj ET Q q 0 0 0 rg BT 496.42 354.80 Td (to ) Tj ET Q q 0 0 0 rg BT 508.75 354.80 Td (successfully ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 341.60 Td (execute ) Tj ET Q q 0 0 0 rg BT 85.53 341.60 Td (the ) Tj ET Q q 0 0 0 rg BT 101.41 341.60 Td (company's ) Tj ET Q q 0 0 0 rg BT 150.44 341.60 Td (strategic ) Tj ET Q q 0 0 0 rg BT 190.14 341.60 Td (plan. ) Tj ET Q q 0 0 0 rg BT 214.10 341.60 Td (W) Tj ET Q q 0 0 0 rg BT 223.60 341.60 Td (e ) Tj ET Q q 0 0 0 rg BT 230.93 341.60 Td (completed ) Tj ET Q q 0 0 0 rg BT 279.18 341.60 Td (the ) Tj ET Q q 0 0 0 rg BT 295.07 341.60 Td (operational ) Tj ET Q q 0 0 0 rg BT 346.99 341.60 Td (assessment ) Tj ET Q q 0 0 0 rg BT 398.32 341.60 Td (phase ) Tj ET Q q 0 0 0 rg BT 425.80 341.60 Td (earlier ) Tj ET Q q 0 0 0 rg BT 456.33 341.60 Td (this ) Tj ET Q q 0 0 0 rg BT 474.67 341.60 Td (year) Tj ET Q q 0 0 0 rg BT 493.16 341.60 Td (, ) Tj ET Q q 0 0 0 rg BT 498.35 341.60 Td (which ) Tj ET Q q 0 0 0 rg BT 527.68 341.60 Td (resulted ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 328.40 Td (in ) Tj ET Q q 0 0 0 rg BT 60.57 328.40 Td (modifications ) Tj ET Q q 0 0 0 rg BT 123.57 328.40 Td (to ) Tj ET Q q 0 0 0 rg BT 134.64 328.40 Td (the ) Tj ET Q q 0 0 0 rg BT 150.59 328.40 Td (company's ) Tj ET Q q 0 0 0 rg BT 199.68 328.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 243.74 328.40 Td (model ) Tj ET Q q 0 0 0 rg BT 273.74 328.40 Td (and ) Tj ET Q q 0 0 0 rg BT 292.14 328.40 Td (executive ) Tj ET Q q 0 0 0 rg BT 336.79 328.40 Td (or) Tj ET Q q 0 0 0 rg BT 345.76 328.40 Td (ganization ) Tj ET Q q 0 0 0 rg BT 394.08 328.40 Td (structure ) Tj ET Q q 0 0 0 rg BT 435.08 328.40 Td (to ) Tj ET Q q 0 0 0 rg BT 446.15 328.40 Td (align ) Tj ET Q q 0 0 0 rg BT 470.66 328.40 Td (with ) Tj ET Q q 0 0 0 rg BT 492.72 328.40 Td (our ) Tj ET Q q 0 0 0 rg BT 509.90 328.40 Td (strategies ) Tj ET Q q 0 0 0 rg BT 553.95 328.40 Td (in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 315.20 Td (being ) Tj ET Q q 0 0 0 rg BT 76.74 315.20 Td (a ) Tj ET Q q 0 0 0 rg BT 84.42 315.20 Td (brand-led ) Tj ET Q q 0 0 0 rg BT 129.37 315.20 Td (and ) Tj ET Q q 0 0 0 rg BT 148.06 315.20 Td (consumer ) Tj ET Q q 0 0 0 rg BT 193.62 315.20 Td (focused ) Tj ET Q q 0 0 0 rg BT 230.63 315.20 Td (or) Tj ET Q q 0 0 0 rg BT 239.60 315.20 Td (ganization. ) Tj ET Q q 0 0 0 rg BT 290.96 315.20 Td (During ) Tj ET Q q 0 0 0 rg BT 324.93 315.20 Td (the ) Tj ET Q q 0 0 0 rg BT 341.17 315.20 Td (third ) Tj ET Q q 0 0 0 rg BT 364.74 315.20 Td (quarter) Tj ET Q q 0 0 0 rg BT 395.45 315.20 Td (, ) Tj ET Q q 0 0 0 rg BT 401.00 315.20 Td (additional ) Tj ET Q q 0 0 0 rg BT 447.79 315.20 Td (analysis ) Tj ET Q q 0 0 0 rg BT 486.03 315.20 Td (was ) Tj ET Q q 0 0 0 rg BT 505.94 315.20 Td (conducted ) Tj ET Q q 0 0 0 rg BT 553.94 315.20 Td (to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 302.00 Td (begin ) Tj ET Q q 0 0 0 rg BT 76.11 302.00 Td (implementing ) Tj ET Q q 0 0 0 rg BT 139.38 302.00 Td (operational ) Tj ET Q q 0 0 0 rg BT 191.03 302.00 Td (improvements ) Tj ET Q q 0 0 0 rg BT 256.13 302.00 Td (throughout ) Tj ET Q q 0 0 0 rg BT 306.58 302.00 Td (the ) Tj ET Q q 0 0 0 rg BT 322.19 302.00 Td (business, ) Tj ET Q q 0 0 0 rg BT 364.39 302.00 Td (which ) Tj ET Q q 0 0 0 rg BT 393.44 302.00 Td (are ) Tj ET Q q 0 0 0 rg BT 409.04 302.00 Td (intended ) Tj ET Q q 0 0 0 rg BT 449.08 302.00 Td (to ) Tj ET Q q 0 0 0 rg BT 459.81 302.00 Td (streamline ) Tj ET Q q 0 0 0 rg BT 507.79 302.00 Td (and ) Tj ET Q q 0 0 0 rg BT 525.85 302.00 Td (improve ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 288.80 Td (the ) Tj ET Q q 0 0 0 rg BT 64.65 288.80 Td (ef) Tj ET Q q 0 0 0 rg BT 72.99 288.80 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 123.57 288.80 Td (of ) Tj ET Q q 0 0 0 rg BT 134.44 288.80 Td (certain ) Tj ET Q q 0 0 0 rg BT 166.07 288.80 Td (processes ) Tj ET Q q 0 0 0 rg BT 209.93 288.80 Td (leading ) Tj ET Q q 0 0 0 rg BT 244.01 288.80 Td (to ) Tj ET Q q 0 0 0 rg BT 254.28 288.80 Td (sales ) Tj ET Q q 0 0 0 rg BT 277.37 288.80 Td (growth, ) Tj ET Q q 0 0 0 rg BT 312.99 288.80 Td (gross ) Tj ET Q q 0 0 0 rg BT 337.92 288.80 Td (mar) Tj ET Q q 0 0 0 rg BT 354.83 288.80 Td (gin ) Tj ET Q q 0 0 0 rg BT 370.59 288.80 Td (enhancement ) Tj ET Q q 0 0 0 rg BT 430.32 288.80 Td (and ) Tj ET Q q 0 0 0 rg BT 447.91 288.80 Td (SG&A) Tj ET Q q 0 0 0 rg BT 477.87 288.80 Td ( ) Tj ET Q q 0 0 0 rg BT 479.57 288.80 Td (expense ) Tj ET Q q 0 0 0 rg BT 516.71 288.80 Td (ef) Tj ET Q q 0 0 0 rg BT 525.06 288.80 Td (ficiency) Tj ET Q q 0 0 0 rg BT 559.76 288.80 Td (. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 275.60 Td (As ) Tj ET Q q 0 0 0 rg BT 64.22 275.60 Td (these ) Tj ET Q q 0 0 0 rg BT 89.32 275.60 Td (improvements ) Tj ET Q q 0 0 0 rg BT 154.74 275.60 Td (are ) Tj ET Q q 0 0 0 rg BT 170.67 275.60 Td (realized ) Tj ET Q q 0 0 0 rg BT 207.97 275.60 Td (over ) Tj ET Q q 0 0 0 rg BT 230.01 275.60 Td (the ) Tj ET Q q 0 0 0 rg BT 245.94 275.60 Td (next ) Tj ET Q q 0 0 0 rg BT 267.38 275.60 Td (2 ) Tj ET Q q 0 0 0 rg BT 275.37 275.60 Td (to ) Tj ET Q q 0 0 0 rg BT 286.42 275.60 Td (3 ) Tj ET Q q 0 0 0 rg BT 294.42 275.60 Td (years ) Tj ET Q q 0 0 0 rg BT 320.12 275.60 Td (and ) Tj ET Q q 0 0 0 rg BT 338.50 275.60 Td (with ) Tj ET Q q 0 0 0 rg BT 360.55 275.60 Td (the ) Tj ET Q q 0 0 0 rg BT 376.48 275.60 Td (goal ) Tj ET Q q 0 0 0 rg BT 397.92 275.60 Td (of ) Tj ET Q q 0 0 0 rg BT 409.57 275.60 Td (continuing ) Tj ET Q q 0 0 0 rg BT 459.12 275.60 Td (to ) Tj ET Q q 0 0 0 rg BT 470.17 275.60 Td (drive ) Tj ET Q q 0 0 0 rg BT 495.27 275.60 Td (sustainable ) Tj ET Q q 0 0 0 rg BT 546.64 275.60 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 262.40 Td (profitable ) Tj ET Q q 0 0 0 rg BT 96.20 262.40 Td (growth, ) Tj ET Q q 0 0 0 rg BT 134.05 262.40 Td (we ) Tj ET Q q 0 0 0 rg BT 150.81 262.40 Td (intend ) Tj ET Q q 0 0 0 rg BT 182.24 262.40 Td (to ) Tj ET Q q 0 0 0 rg BT 194.73 262.40 Td (reallocate ) Tj ET Q q 0 0 0 rg BT 241.41 262.40 Td (resources ) Tj ET Q q 0 0 0 rg BT 286.89 262.40 Td (to ) Tj ET Q q 0 0 0 rg BT 299.38 262.40 Td (strategic ) Tj ET Q q 0 0 0 rg BT 340.58 262.40 Td (priorities, ) Tj ET Q q 0 0 0 rg BT 386.98 262.40 Td (including ) Tj ET Q q 0 0 0 rg BT 432.46 262.40 Td (incremental ) Tj ET Q q 0 0 0 rg BT 488.32 262.40 Td (demand ) Tj ET Q q 0 0 0 rg BT 527.08 262.40 Td (creation ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 249.20 Td (spending ) Tj ET Q q 0 0 0 rg BT 91.99 249.20 Td (and ) Tj ET Q q 0 0 0 rg BT 110.64 249.20 Td (other ) Tj ET Q q 0 0 0 rg BT 136.01 249.20 Td (investments ) Tj ET Q q 0 0 0 rg BT 191.33 249.20 Td (to ) Tj ET Q q 0 0 0 rg BT 202.66 249.20 Td (drive ) Tj ET Q q 0 0 0 rg BT 228.03 249.20 Td (growth ) Tj ET Q q 0 0 0 rg BT 261.96 249.20 Td (across ) Tj ET Q q 0 0 0 rg BT 292.22 249.20 Td (our ) Tj ET Q q 0 0 0 rg BT 309.66 249.20 Td (distribution ) Tj ET Q q 0 0 0 rg BT 363.15 249.20 Td (channels. ) Tj ET Q q 0 0 0 rg BT 406.96 249.20 Td (The ) Tj ET Q q 0 0 0 rg BT 426.83 249.20 Td (company ) Tj ET Q q 0 0 0 rg BT 469.92 249.20 Td (anticipates ) Tj ET Q q 0 0 0 rg BT 519.72 249.20 Td (providing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 236.00 Td (updates ) Tj ET Q q 0 0 0 rg BT 85.85 236.00 Td (as ) Tj ET Q q 0 0 0 rg BT 97.76 236.00 Td (the ) Tj ET Q q 0 0 0 rg BT 113.95 236.00 Td (project ) Tj ET Q q 0 0 0 rg BT 147.24 236.00 Td (progresses.) Tj ET Q BT /F2 11.00 Tf ET 0 0 0 RG /GS0 gs 1.05 w 0 i [] 0 d 1 J 1 j 3 M 49.5 207.87856445312502 m 315.44970703125 207.87856445312502 l s q 0 0 0 rg BT 49.50 209.60 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 117.04 209.60 Td (Constant-Curr) Tj ET Q q 0 0 0 rg BT 187.12 209.60 Td (ency ) Tj ET Q q 0 0 0 rg BT 211.25 209.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 258.01 209.60 Td (Information) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 196.40 Td (The ) Tj ET Q q 0 0 0 rg BT 70.43 196.40 Td (company ) Tj ET Q q 0 0 0 rg BT 114.58 196.40 Td (reports ) Tj ET Q q 0 0 0 rg BT 148.96 196.40 Td (its ) Tj ET Q q 0 0 0 rg BT 163.19 196.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 205.49 196.40 Td (information ) Tj ET Q q 0 0 0 rg BT 261.26 196.40 Td (in ) Tj ET Q q 0 0 0 rg BT 273.65 196.40 Td (accordance ) Tj ET Q q 0 0 0 rg BT 326.93 196.40 Td (with ) Tj ET Q q 0 0 0 rg BT 350.32 196.40 Td (accounting ) Tj ET Q q 0 0 0 rg BT 402.41 196.40 Td (principles ) Tj ET Q q 0 0 0 rg BT 449.62 196.40 Td (generally ) Tj ET Q q 0 0 0 rg BT 494.37 196.40 Td (accepted ) Tj ET Q q 0 0 0 rg BT 536.67 196.40 Td (in ) Tj ET Q q 0 0 0 rg BT 549.06 196.40 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 183.20 Td (United ) Tj ET Q q 0 0 0 rg BT 83.75 183.20 Td (States ) Tj ET Q q 0 0 0 rg BT 114.34 183.20 Td (\("GAAP"\). ) Tj ET Q q 0 0 0 rg BT 167.35 183.20 Td (T) Tj ET Q q 0 0 0 rg BT 173.30 183.20 Td (o ) Tj ET Q q 0 0 0 rg BT 183.11 183.20 Td (supplement ) Tj ET Q q 0 0 0 rg BT 238.14 183.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 280.93 183.20 Td (information ) Tj ET Q q 0 0 0 rg BT 337.17 183.20 Td (reported ) Tj ET Q q 0 0 0 rg BT 378.13 183.20 Td (in ) Tj ET Q q 0 0 0 rg BT 391.00 183.20 Td (accordance ) Tj ET Q q 0 0 0 rg BT 444.77 183.20 Td (with ) Tj ET Q q 0 0 0 rg BT 468.64 183.20 Td (GAAP) Tj ET Q q 0 0 0 rg BT 497.37 183.20 Td (, ) Tj ET Q q 0 0 0 rg BT 504.43 183.20 Td (the ) Tj ET Q q 0 0 0 rg BT 522.18 183.20 Td (company ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 170.00 Td (discloses ) Tj ET Q q 0 0 0 rg BT 92.29 170.00 Td (constant-currency ) Tj ET Q q 0 0 0 rg BT 174.16 170.00 Td (net ) Tj ET Q q 0 0 0 rg BT 190.67 170.00 Td (sales ) Tj ET Q q 0 0 0 rg BT 215.12 170.00 Td (information, ) Tj ET Q q 0 0 0 rg BT 272.88 170.00 Td (which ) Tj ET Q q 0 0 0 rg BT 302.83 170.00 Td (is ) Tj ET Q q 0 0 0 rg BT 313.24 170.00 Td (a ) Tj ET Q q 0 0 0 rg BT 321.20 170.00 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 370.90 170.00 Td ( ) Tj ET Q q 0 0 0 rg BT 373.97 170.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 415.52 170.00 Td (measure, ) Tj ET Q q 0 0 0 rg BT 457.99 170.00 Td (to ) Tj ET Q q 0 0 0 rg BT 469.62 170.00 Td (provide ) Tj ET Q q 0 0 0 rg BT 506.30 170.00 Td (a ) Tj ET Q q 0 0 0 rg BT 514.25 170.00 Td (framework ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 156.80 Td (to ) Tj ET Q q 0 0 0 rg BT 60.50 156.80 Td (assess ) Tj ET Q q 0 0 0 rg BT 89.84 156.80 Td (how ) Tj ET Q q 0 0 0 rg BT 111.23 156.80 Td (the ) Tj ET Q q 0 0 0 rg BT 127.11 156.80 Td (business ) Tj ET Q q 0 0 0 rg BT 166.84 156.80 Td (performed ) Tj ET Q q 0 0 0 rg BT 215.10 156.80 Td (excluding ) Tj ET Q q 0 0 0 rg BT 260.92 156.80 Td (the ) Tj ET Q q 0 0 0 rg BT 276.81 156.80 Td (ef) Tj ET Q q 0 0 0 rg BT 285.15 156.80 Td (fects ) Tj ET Q q 0 0 0 rg BT 308.36 156.80 Td (of ) Tj ET Q q 0 0 0 rg BT 319.97 156.80 Td (changes ) Tj ET Q q 0 0 0 rg BT 357.85 156.80 Td (in ) Tj ET Q q 0 0 0 rg BT 368.85 156.80 Td (the ) Tj ET Q q 0 0 0 rg BT 384.74 156.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 428.71 156.80 Td (rates ) Tj ET Q q 0 0 0 rg BT 451.92 156.80 Td (used ) Tj ET Q q 0 0 0 rg BT 474.53 156.80 Td (to ) Tj ET Q q 0 0 0 rg BT 485.54 156.80 Td (translate ) Tj ET Q q 0 0 0 rg BT 525.24 156.80 Td (net ) Tj ET Q q 0 0 0 rg BT 541.13 156.80 Td (sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 143.60 Td (generated ) Tj ET Q q 0 0 0 rg BT 95.38 143.60 Td (in ) Tj ET Q q 0 0 0 rg BT 107.06 143.60 Td (foreign ) Tj ET Q q 0 0 0 rg BT 141.95 143.60 Td (currencies ) Tj ET Q q 0 0 0 rg BT 190.27 143.60 Td (into ) Tj ET Q q 0 0 0 rg BT 210.51 143.60 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 233.20 143.60 Td (dollars. ) Tj ET Q q 0 0 0 rg BT 268.79 143.60 Td (The ) Tj ET Q q 0 0 0 rg BT 289.02 143.60 Td (company ) Tj ET Q q 0 0 0 rg BT 332.47 143.60 Td (calculates ) Tj ET Q q 0 0 0 rg BT 378.96 143.60 Td (constant-currency ) Tj ET Q q 0 0 0 rg BT 460.88 143.60 Td (net ) Tj ET Q q 0 0 0 rg BT 477.44 143.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 501.95 143.60 Td (by ) Tj ET Q q 0 0 0 rg BT 516.08 143.60 Td (translating ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 130.40 Td (net ) Tj ET Q q 0 0 0 rg BT 65.78 130.40 Td (sales ) Tj ET Q q 0 0 0 rg BT 90.01 130.40 Td (in ) Tj ET Q q 0 0 0 rg BT 101.41 130.40 Td (foreign ) Tj ET Q q 0 0 0 rg BT 136.02 130.40 Td (currencies ) Tj ET Q q 0 0 0 rg BT 184.06 130.40 Td (for ) Tj ET Q q 0 0 0 rg BT 199.73 130.40 Td (the ) Tj ET Q q 0 0 0 rg BT 216.02 130.40 Td (current ) Tj ET Q q 0 0 0 rg BT 250.01 130.40 Td (period ) Tj ET Q q 0 0 0 rg BT 280.95 130.40 Td (into ) Tj ET Q q 0 0 0 rg BT 300.91 130.40 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 323.32 130.40 Td (dollars ) Tj ET Q q 0 0 0 rg BT 356.10 130.40 Td (at ) Tj ET Q q 0 0 0 rg BT 366.89 130.40 Td (the ) Tj ET Q q 0 0 0 rg BT 383.17 130.40 Td (exchange ) Tj ET Q q 0 0 0 rg BT 427.54 130.40 Td (rates ) Tj ET Q q 0 0 0 rg BT 451.15 130.40 Td (that ) Tj ET Q q 0 0 0 rg BT 470.49 130.40 Td (were ) Tj ET Q q 0 0 0 rg BT 494.71 130.40 Td (in ) Tj ET Q q 0 0 0 rg BT 506.11 130.40 Td (ef) Tj ET Q q 0 0 0 rg BT 514.46 130.40 Td (fect ) Tj ET Q q 0 0 0 rg BT 533.79 130.40 Td (during ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 117.20 Td (the ) Tj ET Q q 0 0 0 rg BT 67.05 117.20 Td (comparable ) Tj ET Q q 0 0 0 rg BT 122.47 117.20 Td (period ) Tj ET Q q 0 0 0 rg BT 154.68 117.20 Td (of ) Tj ET Q q 0 0 0 rg BT 167.96 117.20 Td (the ) Tj ET Q q 0 0 0 rg BT 185.51 117.20 Td (prior ) Tj ET Q q 0 0 0 rg BT 211.00 117.20 Td (year) Tj ET Q q 0 0 0 rg BT 229.32 117.20 Td (. ) Tj ET Q q 0 0 0 rg BT 236.18 117.20 Td (Management ) Tj ET Q q 0 0 0 rg BT 297.72 117.20 Td (believes ) Tj ET Q q 0 0 0 rg BT 337.87 117.20 Td (that ) Tj ET Q q 0 0 0 rg BT 358.47 117.20 Td (this ) Tj ET Q q 0 0 0 rg BT 378.48 117.20 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 428.18 117.20 Td ( ) Tj ET Q q 0 0 0 rg BT 432.30 117.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 474.89 117.20 Td (measure ) Tj ET Q q 0 0 0 rg BT 515.64 117.20 Td (reflects ) Tj ET Q q 0 0 0 rg BT 552.12 117.20 Td (an ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 104.00 Td (additional ) Tj ET Q q 0 0 0 rg BT 96.64 104.00 Td (and ) Tj ET Q q 0 0 0 rg BT 115.67 104.00 Td (useful ) Tj ET Q q 0 0 0 rg BT 145.71 104.00 Td (way ) Tj ET Q q 0 0 0 rg BT 167.19 104.00 Td (of ) Tj ET Q q 0 0 0 rg BT 179.50 104.00 Td (viewing ) Tj ET Q q 0 0 0 rg BT 218.09 104.00 Td (an ) Tj ET Q q 0 0 0 rg BT 231.62 104.00 Td (aspect ) Tj ET Q q 0 0 0 rg BT 262.26 104.00 Td (of ) Tj ET Q q 0 0 0 rg BT 274.57 104.00 Td (our ) Tj ET Q q 0 0 0 rg BT 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(operations. ) Tj ET Q q 0 0 0 rg BT 424.05 90.80 Td (In ) Tj ET Q q 0 0 0 rg BT 435.33 90.80 Td (particular) Tj ET Q q 0 0 0 rg BT 477.03 90.80 Td (, ) Tj ET Q q 0 0 0 rg BT 481.90 90.80 Td (investors ) Tj ET Q q 0 0 0 rg BT 523.73 90.80 Td (may ) Tj ET Q q 0 0 0 rg BT 544.78 90.80 Td (find ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 77.60 Td (the ) Tj ET Q q 0 0 0 rg BT 65.55 77.60 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 115.25 77.60 Td ( ) Tj ET Q q 0 0 0 rg BT 117.86 77.60 Td (measures ) Tj ET Q q 0 0 0 rg BT 161.40 77.60 Td (useful ) Tj ET Q q 0 0 0 rg BT 190.89 77.60 Td (by ) Tj ET Q q 0 0 0 rg BT 204.50 77.60 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 251.10 77.60 Td (our ) Tj ET Q q 0 0 0 rg BT 268.37 77.60 Td (net ) Tj ET Q q 0 0 0 rg BT 284.42 77.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 308.41 77.60 Td (results ) Tj ET Q q 0 0 0 rg BT 339.74 77.60 Td (without ) Tj ET Q q 0 0 0 rg BT 375.97 77.60 Td (the ) Tj ET Q q 0 0 0 rg BT 392.01 77.60 Td (volatility ) Tj ET Q q 0 0 0 rg BT 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BT 49.50 51.20 Td (results ) Tj ET Q q 0 0 0 rg BT 81.32 51.20 Td (and ) Tj ET Q q 0 0 0 rg BT 100.29 51.20 Td (comparisons ) Tj ET Q q 0 0 0 rg BT 158.99 51.20 Td (to ) Tj ET Q q 0 0 0 rg BT 170.65 51.20 Td (competitors' ) Tj ET Q q 0 0 0 rg BT 227.66 51.20 Td (net ) Tj ET Q q 0 0 0 rg BT 244.19 51.20 Td (sales ) Tj ET Q q 0 0 0 rg BT 268.67 51.20 Td (results. ) Tj ET Q q 0 0 0 rg BT 303.24 51.20 Td (Constant-currency ) Tj ET Q q 0 0 0 rg BT 387.58 51.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 429.16 51.20 Td (measures ) Tj ET Q q 0 0 0 rg BT 473.18 51.20 Td (should ) Tj ET Q q 0 0 0 rg BT 505.62 51.20 Td (be ) Tj ET Q q 0 0 0 rg BT 519.10 51.20 Td (viewed ) Tj ET Q q 0 0 0 rg BT 553.96 51.20 Td (in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 38.00 Td (addition ) Tj ET Q q 0 0 0 rg BT 87.66 38.00 Td (to, ) Tj ET Q q 0 0 0 rg BT 101.07 38.00 Td (and ) Tj ET Q q 0 0 0 rg BT 119.06 38.00 Td (not ) Tj ET Q q 0 0 0 rg BT 135.22 38.00 Td (in ) Tj ET Q q 0 0 0 rg BT 145.88 38.00 Td (lieu 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0 0 0 rg BT 161.10 748.40 Td (of ) Tj ET Q q 0 0 0 rg BT 173.05 748.40 Td (this ) Tj ET Q q 0 0 0 rg BT 191.73 748.40 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 241.44 748.40 Td ( ) Tj ET Q q 0 0 0 rg BT 244.22 748.40 Td (measure ) Tj ET Q q 0 0 0 rg BT 283.66 748.40 Td (to ) Tj ET Q q 0 0 0 rg BT 295.00 748.40 Td (the ) Tj ET Q q 0 0 0 rg BT 311.23 748.40 Td (most ) Tj ET Q q 0 0 0 rg BT 335.41 748.40 Td (directly ) Tj ET Q q 0 0 0 rg BT 371.79 748.40 Td (comparable ) Tj ET Q q 0 0 0 rg BT 425.88 748.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 467.15 748.40 Td (measure ) Tj ET Q q 0 0 0 rg BT 506.59 748.40 Td (calculated ) Tj ET Q q 0 0 0 rg BT 553.95 748.40 Td (in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 735.20 Td (accordance ) Tj ET Q q 0 0 0 rg BT 102.41 735.20 Td (with ) Tj ET Q q 0 0 0 rg BT 125.42 735.20 Td (GAAP) Tj ET Q q 0 0 0 rg BT 154.15 735.20 Td (. ) Tj ET Q q 0 0 0 rg BT 160.35 735.20 Td (\(See ) Tj ET Q q 0 0 0 rg BT 183.35 735.20 Td ("Supplemental ) Tj ET Q q 0 0 0 rg BT 251.79 735.20 Td (Financial ) Tj ET Q q 0 0 0 rg BT 296.17 735.20 Td (Information ) Tj ET Q q 0 0 0 rg BT 352.17 735.20 Td (- ) Tj ET Q q 0 0 0 rg BT 359.28 735.20 Td (Net ) Tj ET Q q 0 0 0 rg BT 378.62 735.20 Td (Sales ) Tj ET Q q 0 0 0 rg BT 405.29 735.20 Td (Growth ) Tj ET Q q 0 0 0 rg BT 442.35 735.20 Td (- ) Tj ET Q q 0 0 0 rg BT 449.47 735.20 Td (Constant-currency ) Tj ET Q q 0 0 0 rg BT 534.17 735.20 Td (Basis" ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 722.00 Td (tables ) Tj ET Q q 0 0 0 rg BT 76.94 722.00 Td (included ) Tj ET Q q 0 0 0 rg BT 116.61 722.00 Td (in ) Tj ET Q q 0 0 0 rg BT 126.95 722.00 Td (the ) Tj ET Q q 0 0 0 rg BT 142.17 722.00 Td (earnings ) Tj ET Q q 0 0 0 rg BT 181.22 722.00 Td (release ) Tj ET Q q 0 0 0 rg BT 213.54 722.00 Td (announcing ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 266.65 722.00 Td (third) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 287.42 722.00 Td ( ) Tj ET Q q 0 0 0 rg BT 289.21 722.00 Td (quarter ) Tj ET Q q 0 0 0 rg BT 322.14 722.00 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Tj ET Q BT /F1 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 356.64 708.80 Td (\) ) Tj ET Q q 0 0 0 rg BT 363.19 708.80 Td (The ) Tj ET Q q 0 0 0 rg BT 383.40 708.80 Td (constant-currency ) Tj ET Q q 0 0 0 rg BT 465.31 708.80 Td (information ) Tj ET Q q 0 0 0 rg BT 520.35 708.80 Td (presented ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 695.60 Td (may ) Tj ET Q q 0 0 0 rg BT 71.19 695.60 Td (not ) Tj ET Q q 0 0 0 rg BT 87.99 695.60 Td (be ) Tj ET Q q 0 0 0 rg BT 101.13 695.60 Td (comparable ) Tj ET Q q 0 0 0 rg BT 155.18 695.60 Td (to ) Tj ET Q q 0 0 0 rg BT 166.49 695.60 Td (similarly ) Tj ET Q q 0 0 0 rg BT 208.34 695.60 Td (titled ) Tj ET Q q 0 0 0 rg BT 233.70 695.60 Td (measures ) Tj ET Q q 0 0 0 rg BT 277.38 695.60 Td (reported ) Tj ET Q q 0 0 0 rg BT 316.78 695.60 Td (by ) Tj ET Q q 0 0 0 rg BT 330.53 695.60 Td (other ) Tj ET Q q 0 0 0 rg BT 355.88 695.60 Td (companies.) 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375.31 360.80 Td (future ) Tj ET Q q 0 0 0 rg BT 404.16 360.80 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 448.59 360.80 Td (earnings ) Tj ET Q q 0 0 0 rg BT 488.45 360.80 Td (and ) Tj ET Q q 0 0 0 rg BT 506.92 360.80 Td (performance ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 347.60 Td (and ) Tj ET Q q 0 0 0 rg BT 68.75 347.60 Td (could ) Tj ET Q q 0 0 0 rg BT 96.55 347.60 Td (cause ) Tj ET Q q 0 0 0 rg BT 124.34 347.60 Td (the ) Tj ET Q q 0 0 0 rg BT 141.14 347.60 Td (actual ) Tj ET Q q 0 0 0 rg BT 170.77 347.60 Td (results ) Tj ET Q q 0 0 0 rg BT 202.85 347.60 Td (of ) Tj ET Q q 0 0 0 rg BT 215.38 347.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 264.56 347.60 Td (or ) Tj ET Q q 0 0 0 rg BT 277.09 347.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 318.93 347.60 Td (condition ) Tj ET Q q 0 0 0 rg BT 363.84 347.60 Td (of ) Tj ET Q q 0 0 0 rg BT 376.37 347.60 Td (the ) Tj ET Q q 0 0 0 rg BT 393.17 347.60 Td (company ) Tj ET Q q 0 0 0 rg BT 436.86 347.60 Td (to ) Tj ET Q q 0 0 0 rg BT 448.78 347.60 Td (dif) Tj ET Q q 0 0 0 rg BT 460.80 347.60 Td (fer ) Tj ET Q q 0 0 0 rg BT 476.37 347.60 Td (materially ) Tj ET Q q 0 0 0 rg BT 524.32 347.60 Td (from ) Tj ET Q q 0 0 0 rg BT 549.07 347.60 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 334.40 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 100.06 334.40 Td (results ) Tj ET Q q 0 0 0 rg BT 131.09 334.40 Td (expressed ) Tj ET Q q 0 0 0 rg BT 176.77 334.40 Td (or ) Tj ET Q q 0 0 0 rg BT 188.24 334.40 Td (implied ) Tj ET Q q 0 0 0 rg BT 224.16 334.40 Td (by ) Tj ET Q q 0 0 0 rg BT 237.46 334.40 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 311.86 334.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 360.60 334.40 Td (in ) Tj ET Q q 0 0 0 rg BT 371.47 334.40 Td (this ) Tj ET Q q 0 0 0 rg BT 389.67 334.40 Td (document ) Tj ET Q q 0 0 0 rg BT 435.35 334.40 Td (include: ) Tj ET Q q 0 0 0 rg BT 473.10 334.40 Td (loss ) Tj ET Q q 0 0 0 rg BT 492.52 334.40 Td (of ) Tj ET Q q 0 0 0 rg BT 503.99 334.40 Td (key ) Tj ET Q q 0 0 0 rg BT 522.18 334.40 Td (customer ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 321.20 Td (accounts; ) Tj ET Q q 0 0 0 rg BT 94.44 321.20 Td (our ) Tj ET Q q 0 0 0 rg BT 112.50 321.20 Td (ability ) Tj ET Q q 0 0 0 rg BT 144.00 321.20 Td (to ) Tj ET Q q 0 0 0 rg BT 155.95 321.20 Td (ef) Tj ET Q q 0 0 0 rg BT 164.30 321.20 Td (fectively ) Tj ET Q q 0 0 0 rg BT 206.17 321.20 Td (implement ) Tj ET Q q 0 0 0 rg BT 256.61 321.20 Td (IT) Tj ET Q q 0 0 0 rg BT 266.80 321.20 Td ( ) Tj ET Q q 0 0 0 rg BT 270.19 321.20 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 332.84 321.20 Td (and ) Tj ET Q q 0 0 0 rg BT 352.12 321.20 Td (business ) Tj ET Q q 0 0 0 rg BT 392.79 321.20 Td (process ) Tj ET Q q 0 0 0 rg BT 429.18 321.20 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 475.96 321.20 Td (and ) Tj ET Q q 0 0 0 rg BT 495.23 321.20 Td (to ) Tj ET Q q 0 0 0 rg BT 507.19 321.20 Td (maintain ) Tj ET Q q 0 0 0 rg BT 549.07 321.20 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 308.00 Td (strength ) Tj ET Q q 0 0 0 rg BT 87.75 308.00 Td (and ) Tj ET Q q 0 0 0 rg BT 106.44 308.00 Td (security ) Tj ET Q q 0 0 0 rg BT 144.08 308.00 Td (of ) Tj ET Q q 0 0 0 rg BT 156.05 308.00 Td (our ) Tj ET Q q 0 0 0 rg BT 173.53 308.00 Td (IT) Tj ET Q q 0 0 0 rg BT 183.71 308.00 Td ( ) Tj ET Q q 0 0 0 rg BT 186.52 308.00 Td (systems; ) Tj ET Q q 0 0 0 rg BT 227.23 308.00 Td (the ) Tj ET Q q 0 0 0 rg BT 243.48 308.00 Td (ef) Tj ET Q q 0 0 0 rg BT 251.83 308.00 Td (fects ) Tj ET Q q 0 0 0 rg BT 275.40 308.00 Td (of ) Tj ET Q q 0 0 0 rg BT 287.38 308.00 Td (unseasonable ) Tj ET Q q 0 0 0 rg BT 348.84 308.00 Td (weather) Tj ET Q q 0 0 0 rg BT 383.21 308.00 Td (, ) Tj ET Q q 0 0 0 rg BT 388.77 308.00 Td (including ) Tj ET Q q 0 0 0 rg BT 433.13 308.00 Td (global ) Tj ET Q q 0 0 0 rg BT 463.44 308.00 Td (climate ) Tj ET Q q 0 0 0 rg BT 498.62 308.00 Td (change; ) Tj ET Q q 0 0 0 rg BT 535.64 308.00 Td (trends ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 294.80 Td (af) Tj ET Q q 0 0 0 rg BT 57.85 294.80 Td (fecting ) Tj ET Q q 0 0 0 rg BT 92.42 294.80 Td (consumer ) Tj ET Q q 0 0 0 rg BT 139.21 294.80 Td (traf) Tj ET Q q 0 0 0 rg BT 154.28 294.80 Td (fic ) Tj ET Q q 0 0 0 rg BT 169.91 294.80 Td (and ) Tj ET Q q 0 0 0 rg BT 189.83 294.80 Td (spending ) Tj ET Q q 0 0 0 rg BT 233.58 294.80 Td (in ) Tj ET Q q 0 0 0 rg BT 246.16 294.80 Td (our ) Tj ET Q q 0 0 0 rg BT 264.86 294.80 Td (direct-to-consumer ) Tj ET Q q 0 0 0 rg BT 352.58 294.80 Td (channels; ) Tj ET Q q 0 0 0 rg BT 398.15 294.80 Td (our ) Tj ET Q q 0 0 0 rg BT 416.84 294.80 Td (ability ) Tj ET Q q 0 0 0 rg BT 448.98 294.80 Td (to ) Tj ET Q q 0 0 0 rg BT 461.57 294.80 Td (implement ) Tj ET Q q 0 0 0 rg BT 512.64 294.80 Td (our ) Tj ET Q q 0 0 0 rg BT 531.34 294.80 Td (growth ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 281.60 Td (strategies; ) Tj ET Q q 0 0 0 rg BT 96.92 281.60 Td (unfavorable ) Tj ET Q q 0 0 0 rg BT 152.28 281.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 197.87 281.60 Td (conditions ) Tj ET Q q 0 0 0 rg BT 246.53 281.60 Td (generally) Tj ET Q q 0 0 0 rg BT 286.74 281.60 Td (, ) Tj ET Q q 0 0 0 rg BT 292.31 281.60 Td (the ) Tj ET Q q 0 0 0 rg BT 308.58 281.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 349.89 281.60 Td (health ) Tj ET Q q 0 0 0 rg BT 379.59 281.60 Td (of ) Tj ET Q q 0 0 0 rg BT 391.58 281.60 Td (our ) Tj ET Q q 0 0 0 rg BT 409.08 281.60 Td (customers ) Tj ET Q q 0 0 0 rg BT 456.51 281.60 Td (and ) Tj ET Q q 0 0 0 rg BT 475.22 281.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 513.47 281.60 Td (in ) Tj ET Q q 0 0 0 rg BT 524.86 281.60 Td (the ) Tj ET Q q 0 0 0 rg BT 541.12 281.60 Td (level ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 268.40 Td (of ) Tj ET Q q 0 0 0 rg BT 61.20 268.40 Td (consumer ) Tj ET Q q 0 0 0 rg BT 106.49 268.40 Td (spending, ) Tj ET Q q 0 0 0 rg BT 151.50 268.40 Td (apparel ) Tj ET Q q 0 0 0 rg BT 186.39 268.40 Td (preferences ) Tj ET Q q 0 0 0 rg BT 239.61 268.40 Td (and ) Tj ET Q q 0 0 0 rg BT 258.02 268.40 Td (fashion ) Tj ET Q q 0 0 0 rg BT 292.94 268.40 Td (trends; ) Tj ET Q q 0 0 0 rg BT 325.41 268.40 Td (changes ) Tj ET Q q 0 0 0 rg BT 363.37 268.40 Td (in ) Tj ET Q q 0 0 0 rg BT 374.46 268.40 Td (international, ) Tj ET Q q 0 0 0 rg BT 435.33 268.40 Td (federal ) Tj ET Q q 0 0 0 rg BT 468.39 268.40 Td (or ) Tj ET Q q 0 0 0 rg BT 480.09 268.40 Td (state ) Tj ET Q q 0 0 0 rg BT 502.78 268.40 Td (tax, ) Tj ET Q q 0 0 0 rg BT 521.50 268.40 Td (labor ) Tj ET Q q 0 0 0 rg BT 546.64 268.40 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 255.20 Td (other ) Tj ET Q q 0 0 0 rg BT 74.85 255.20 Td (laws ) Tj ET Q q 0 0 0 rg BT 97.77 255.20 Td (and ) Tj ET Q q 0 0 0 rg BT 116.41 255.20 Td (regulations ) Tj ET Q q 0 0 0 rg BT 168.04 255.20 Td (that ) Tj ET Q q 0 0 0 rg BT 187.28 255.20 Td (af) Tj ET Q q 0 0 0 rg BT 195.63 255.20 Td (fect ) Tj ET Q q 0 0 0 rg BT 214.87 255.20 Td (our ) Tj ET Q q 0 0 0 rg BT 232.28 255.20 Td (business, ) Tj ET Q q 0 0 0 rg BT 275.07 255.20 Td (including ) Tj ET Q q 0 0 0 rg BT 319.37 255.20 Td (changes ) Tj ET Q q 0 0 0 rg BT 357.55 255.20 Td (in ) Tj ET Q q 0 0 0 rg BT 368.86 255.20 Td (corporate ) Tj ET Q q 0 0 0 rg BT 413.14 255.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 429.33 255.20 Td (rates ) Tj ET Q q 0 0 0 rg BT 452.85 255.20 Td (or ) Tj ET Q q 0 0 0 rg BT 464.77 255.20 Td (increasing ) Tj ET Q q 0 0 0 rg BT 512.72 255.20 Td (wage ) Tj ET Q q 0 0 0 rg BT 538.68 255.20 Td (rates; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 242.00 Td (volatility ) Tj ET Q q 0 0 0 rg BT 91.06 242.00 Td (in ) Tj ET Q q 0 0 0 rg BT 101.45 242.00 Td (global ) Tj ET Q q 0 0 0 rg BT 130.79 242.00 Td (production ) Tj ET Q q 0 0 0 rg BT 180.28 242.00 Td (and ) Tj ET Q q 0 0 0 rg BT 198.00 242.00 Td (transportation ) Tj ET Q q 0 0 0 rg BT 260.94 242.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 284.77 242.00 Td (and ) Tj ET Q q 0 0 0 rg BT 302.50 242.00 Td (capacity; ) Tj ET Q q 0 0 0 rg BT 344.03 242.00 Td (risks ) Tj ET Q q 0 0 0 rg BT 366.65 242.00 Td (inherent ) Tj ET Q q 0 0 0 rg BT 404.53 242.00 Td (in ) Tj ET Q q 0 0 0 rg BT 414.92 242.00 Td (doing ) Tj ET Q q 0 0 0 rg BT 441.82 242.00 Td (business ) Tj ET Q q 0 0 0 rg BT 480.94 242.00 Td (in ) Tj ET Q q 0 0 0 rg BT 491.33 242.00 Td (foreign ) Tj ET Q q 0 0 0 rg BT 524.94 242.00 Td (markets, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 228.80 Td (including ) Tj ET Q q 0 0 0 rg BT 93.56 228.80 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 148.01 228.80 Td (in ) Tj ET Q q 0 0 0 rg BT 159.07 228.80 Td (currency ) Tj ET Q q 0 0 0 rg BT 200.06 228.80 Td (exchange ) Tj ET Q q 0 0 0 rg BT 244.10 228.80 Td (rates; ) Tj ET Q q 0 0 0 rg BT 270.43 228.80 Td (our ) Tj ET Q q 0 0 0 rg BT 287.60 228.80 Td (ability ) Tj ET Q q 0 0 0 rg BT 318.22 228.80 Td (to ) Tj ET Q q 0 0 0 rg BT 329.29 228.80 Td (attract ) Tj ET Q q 0 0 0 rg BT 359.28 228.80 Td (and ) Tj ET Q q 0 0 0 rg BT 377.67 228.80 Td (retain ) Tj ET Q q 0 0 0 rg BT 405.23 228.80 Td (key ) Tj ET Q q 0 0 0 rg BT 423.62 228.80 Td (personnel; ) Tj ET Q q 0 0 0 rg BT 471.95 228.80 Td (risks ) Tj ET Q q 0 0 0 rg BT 495.24 228.80 Td (associated ) Tj ET Q q 0 0 0 rg BT 542.96 228.80 Td (with ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 215.60 Td (our ) Tj ET Q q 0 0 0 rg BT 65.90 215.60 Td (joint ) Tj ET Q q 0 0 0 rg BT 87.81 215.60 Td (venture; ) Tj ET Q q 0 0 0 rg BT 125.60 215.60 Td (higher ) Tj ET Q q 0 0 0 rg BT 155.44 215.60 Td (than ) Tj ET Q q 0 0 0 rg BT 176.12 215.60 Td (expected ) Tj ET Q q 0 0 0 rg BT 216.95 215.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 239.45 215.60 Td (of ) Tj ET Q q 0 0 0 rg BT 250.36 215.60 Td (order ) Tj ET Q q 0 0 0 rg BT 275.31 215.60 Td (cancellations; ) Tj ET Q q 0 0 0 rg BT 337.52 215.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 380.79 215.60 Td (consolidation ) Tj ET Q q 0 0 0 rg BT 441.81 215.60 Td (of ) Tj ET Q q 0 0 0 rg BT 452.71 215.60 Td (our ) Tj ET Q q 0 0 0 rg BT 469.12 215.60 Td (wholesale ) Tj ET Q q 0 0 0 rg BT 514.84 215.60 Td (customers; ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 202.40 Td (our ) Tj ET Q q 0 0 0 rg BT 65.56 202.40 Td (ability ) Tj ET Q q 0 0 0 rg BT 95.06 202.40 Td (to ) Tj ET Q q 0 0 0 rg BT 105.01 202.40 Td (ef) Tj ET Q q 0 0 0 rg BT 113.36 202.40 Td (fectively ) Tj ET Q q 0 0 0 rg BT 153.23 202.40 Td (source ) Tj ET Q q 0 0 0 rg BT 183.33 202.40 Td (and ) Tj ET Q q 0 0 0 rg BT 200.61 202.40 Td (deliver ) Tj ET Q q 0 0 0 rg BT 232.55 202.40 Td (our ) Tj ET Q q 0 0 0 rg BT 248.61 202.40 Td (products ) Tj ET Q q 0 0 0 rg BT 287.88 202.40 Td (to ) Tj ET Q q 0 0 0 rg BT 297.83 202.40 Td (customers ) Tj ET Q q 0 0 0 rg BT 343.83 202.40 Td (in ) Tj ET Q q 0 0 0 rg BT 353.78 202.40 Td (a ) Tj ET Q q 0 0 0 rg BT 360.06 202.40 Td (timely ) Tj ET Q q 0 0 0 rg BT 389.56 202.40 Td (manner; ) Tj ET Q q 0 0 0 rg BT 427.00 202.40 Td (our ) Tj ET Q q 0 0 0 rg BT 443.05 202.40 Td (dependence ) Tj ET Q q 0 0 0 rg BT 496.36 202.40 Td (on ) Tj ET Q q 0 0 0 rg BT 508.76 202.40 Td (independent ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 189.20 Td (manufacturers ) Tj ET Q q 0 0 0 rg BT 115.66 189.20 Td (and ) Tj ET Q q 0 0 0 rg BT 134.79 189.20 Td (suppliers ) Tj ET Q q 0 0 0 rg BT 177.75 189.20 Td (and ) Tj ET Q q 0 0 0 rg BT 196.88 189.20 Td (our ) Tj ET Q q 0 0 0 rg BT 214.79 189.20 Td (ability ) Tj ET Q q 0 0 0 rg BT 246.15 189.20 Td (to ) Tj ET Q q 0 0 0 rg BT 257.95 189.20 Td (source ) Tj ET Q q 0 0 0 rg BT 289.91 189.20 Td (finished ) Tj ET Q q 0 0 0 rg BT 328.59 189.20 Td (products ) Tj ET Q q 0 0 0 rg BT 369.72 189.20 Td (and ) Tj ET Q q 0 0 0 rg BT 388.85 189.20 Td (components ) Tj ET Q q 0 0 0 rg BT 445.26 189.20 Td (at ) Tj ET Q q 0 0 0 rg BT 456.44 189.20 Td (competitive ) Tj ET Q q 0 0 0 rg BT 511.62 189.20 Td (prices ) Tj ET Q q 0 0 0 rg BT 541.13 189.20 Td (from ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 176.00 Td (them; ) Tj ET Q q 0 0 0 rg BT 77.82 176.00 Td (the ) Tj ET Q q 0 0 0 rg BT 94.53 176.00 Td (ef) Tj ET Q q 0 0 0 rg BT 102.88 176.00 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 155.02 176.00 Td (of ) Tj ET Q q 0 0 0 rg BT 167.45 176.00 Td (our ) Tj ET Q q 0 0 0 rg BT 185.38 176.00 Td (sales ) Tj ET Q q 0 0 0 rg BT 210.04 176.00 Td (and ) Tj ET Q q 0 0 0 rg BT 229.19 176.00 Td (marketing ) Tj ET Q q 0 0 0 rg BT 277.06 176.00 Td (ef) Tj ET Q q 0 0 0 rg BT 285.40 176.00 Td (forts; ) Tj ET Q q 0 0 0 rg BT 311.89 176.00 Td (intense ) Tj ET Q q 0 0 0 rg BT 346.32 176.00 Td (competition ) Tj ET Q q 0 0 0 rg BT 402.14 176.00 Td (in ) Tj ET Q q 0 0 0 rg BT 413.97 176.00 Td (the ) Tj ET Q q 0 0 0 rg BT 430.68 176.00 Td (industry; ) Tj ET Q q 0 0 0 rg BT 473.06 176.00 Td (business ) Tj ET Q q 0 0 0 rg BT 513.61 176.00 Td (disruptions ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 162.80 Td (and ) Tj ET Q q 0 0 0 rg BT 69.11 162.80 Td (acts ) Tj ET Q q 0 0 0 rg BT 89.93 162.80 Td (of ) Tj ET Q q 0 0 0 rg BT 102.82 162.80 Td (terrorism, ) Tj ET Q q 0 0 0 rg BT 149.61 162.80 Td (cyber) Tj ET Q q 0 0 0 rg BT 173.82 162.80 Td (-attacks ) Tj ET Q q 0 0 0 rg BT 211.75 162.80 Td (or ) Tj ET Q q 0 0 0 rg BT 224.63 162.80 Td (military ) Tj ET Q q 0 0 0 rg BT 263.18 162.80 Td (activities ) Tj ET Q q 0 0 0 rg BT 306.62 162.80 Td (around ) Tj ET Q q 0 0 0 rg BT 340.88 162.80 Td (the ) Tj ET Q q 0 0 0 rg BT 358.05 162.80 Td (globe; ) Tj ET Q q 0 0 0 rg BT 389.26 162.80 Td (our ) Tj ET Q q 0 0 0 rg BT 407.65 162.80 Td (ability ) Tj ET Q q 0 0 0 rg BT 439.48 162.80 Td (to ) Tj ET Q q 0 0 0 rg BT 451.76 162.80 Td (establish ) Tj ET Q q 0 0 0 rg BT 493.98 162.80 Td (and ) Tj ET Q q 0 0 0 rg BT 513.59 162.80 Td (protect ) Tj ET Q q 0 0 0 rg BT 547.85 162.80 Td (our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 149.60 Td (intellectual ) Tj ET Q q 0 0 0 rg BT 101.56 149.60 Td (property; ) Tj ET Q q 0 0 0 rg BT 145.07 149.60 Td (the ) Tj ET Q q 0 0 0 rg BT 161.70 149.60 Td (seasonality ) Tj ET Q q 0 0 0 rg BT 213.76 149.60 Td (of ) Tj ET Q q 0 0 0 rg BT 226.12 149.60 Td (our ) Tj ET Q q 0 0 0 rg BT 243.97 149.60 Td (business; ) Tj ET Q q 0 0 0 rg BT 287.50 149.60 Td (and ) Tj ET Q q 0 0 0 rg BT 306.57 149.60 Td (our ) Tj ET Q q 0 0 0 rg BT 324.42 149.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 355.72 149.60 Td (to ) Tj ET Q q 0 0 0 rg BT 367.47 149.60 Td (develop ) Tj ET Q q 0 0 0 rg BT 405.48 149.60 Td (innovative ) Tj ET Q q 0 0 0 rg BT 455.10 149.60 Td (products. ) Tj ET Q q 0 0 0 rg BT 498.93 149.60 Td ( ) Tj ET Q q 0 0 0 rg BT 501.89 149.60 Td (The ) Tj ET Q q 0 0 0 rg BT 522.18 149.60 Td (company ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 136.40 Td (cautions ) Tj ET Q q 0 0 0 rg BT 89.15 136.40 Td (that ) Tj ET Q q 0 0 0 rg BT 108.64 136.40 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 183.72 136.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 233.15 136.40 Td (are ) Tj ET Q q 0 0 0 rg BT 249.57 136.40 Td (inherently ) Tj ET Q q 0 0 0 rg BT 297.16 136.40 Td (less ) Tj ET Q q 0 0 0 rg BT 316.65 136.40 Td (reliable ) Tj ET Q q 0 0 0 rg BT 352.62 136.40 Td (than ) Tj ET Q q 0 0 0 rg BT 374.56 136.40 Td (historical ) Tj ET Q q 0 0 0 rg BT 418.48 136.40 Td (information. ) Tj ET Q q 0 0 0 rg BT 476.16 136.40 Td ( ) Tj ET Q q 0 0 0 rg BT 478.94 136.40 Td (The ) Tj ET Q q 0 0 0 rg BT 499.03 136.40 Td (company ) Tj ET Q q 0 0 0 rg BT 542.34 136.40 Td (does ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 123.20 Td (not ) Tj ET Q q 0 0 0 rg BT 66.84 123.20 Td (undertake ) Tj ET Q q 0 0 0 rg BT 113.49 123.20 Td (any ) Tj ET Q q 0 0 0 rg BT 132.65 123.20 Td (duty ) Tj ET Q q 0 0 0 rg BT 155.49 123.20 Td (to ) Tj ET Q q 0 0 0 rg BT 167.33 123.20 Td (update ) Tj ET Q q 0 0 0 rg BT 199.94 123.20 Td (any ) Tj ET Q q 0 0 0 rg BT 219.10 123.20 Td (of ) Tj ET Q q 0 0 0 rg BT 231.55 123.20 Td (the ) Tj ET Q q 0 0 0 rg BT 248.27 123.20 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 323.64 123.20 Td (statements ) Tj ET Q q 0 0 0 rg BT 373.36 123.20 Td (after ) Tj ET Q q 0 0 0 rg BT 396.79 123.20 Td (the ) Tj ET Q q 0 0 0 rg BT 413.51 123.20 Td (date ) Tj ET Q q 0 0 0 rg BT 435.12 123.20 Td (of ) Tj ET Q q 0 0 0 rg BT 447.56 123.20 Td (this ) Tj ET Q q 0 0 0 rg BT 466.74 123.20 Td (document ) Tj ET Q q 0 0 0 rg BT 513.40 123.20 Td (to ) Tj ET Q 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