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John D. Idol - Chairman and Chief Executive Officer Thank you, Krystyna. Good morning, and welcome to Michael Kors' First Quarter Fiscal 2016 Earnings Call. I'll begin with a quick review of the quarter and then provide an update on some of our growth initiatives. I am pleased to report that our luxury brand continues to achieve global growth. Total revenue increased 7% or 13% on a constant currency basis for the first quarter of fiscal 2016. In constant currency, we saw revenue growth of approximately 2% in North America, 42% in Europe and 57% in Japan. Although we are at different stages of development in each of our regions, we continue to drive top line growth and believe consumers view Michael Kors as a leading luxury fashion brand. Our first quarter financial results exceeded expectations, driven by better-than-anticipated performance in both our retail and wholesale segments. The increase in retail net sales was attributable to new stores and accelerated growth in our North American digital flagships, which experienced 102% year-over-year increase.

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