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The only pure retailer I've bought lately is LB. They are in the midst of a re-org and new initiatives are detailed in the 3/15 presentation on IR website. I'm in for the: 1) International expansion to come; they just bought back all 26 China VSBAs. China is said to be 3x USA and $1b in 5 years. 2) PINK expansion - $1,300/sf on 3,400 sf total. 3) Shift from "fantasy beauty" to high-end skin care.
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