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Now,ysl shoes, let me discuss our guidance. Based on our strong third quarter performance, we expected continuing momentum of Ugg,manolo blahnik store, our expectation that we can turn the positive response to christian ’s and Simple’s 2004 lines into increased sales and our expectation that we will repurchase all of the outstanding preferred stock and repay $2m of sub debt in December of this year. We are increasing our guidance for 2003 and giving initial guidance for 2004. We now expect sales for 2003 to be a $113m to $115m, up from our previous guidance of a $104m to $108m. We expect christian sales for 2003 to be $74m to $75m, Simple sales to be about $8m, and Ugg sales to be $31m to $32m. We expect EPS for 2003 to be approximately $0.62 to $0.64 per diluted share after the fourth quarter one-time charge of $0.04 for the preferred stock repurchased and the $2m sub debt repayment. This is up from our previous guidance of $0.57 to $0.59. We expect fourth quarter 2003 sales to be $28m to $30m and earnings to be $0.06 to $0.08 per diluted share after the one-time $0.04 charge for the preferred stock repurchasing sub debt repayment. Last year’s fourth quarter earnings were $0.13 per diluted share and include a $0.02 in earnings from a non-recurring favorable court settlement and was based on 10.2 average diluted common shares versus this year’s expected 11.8m.

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Kate Winslet wears the classic black leather version with red patent platform to the UK premiere of her latest movie The Holiday.’ Fashion follower Victoria Beckham is a Louboutin lover and snapped up pairs in satin, black leather and cream.’ Kelly Brook opts for the snakeskin version with a cream Alice Temperley jumper dress for dinner at The Ivy.’ Actress Renee Zellweger walks tall in the black moc-croc version.’ WAG Coleen McLoughlin teams a nude patent pair with an Amanda Wakeley dress to see Take That in concert.’ Kristin Davis looks sexy in a pair of snake-skin red Louboutins and a yellow prom dress.The Spanish-Czech shoemaker became the most unlikely designer to break out of the high-fashion pack that dressed the Sex and the City women during their halcyon HBO years. The shoe passion of Parker’s Carrie Bradshaw was lavished mostly on Manolos – to call such well-crafted works of art "christian louboutins" just seems vulgar – so much so that they were essentially a star of the series on par with Parker and her three female cohorts. (In one episode, Carrie was even mugged for her Manolos.)
Sex and the City made Blahnik a household name in places where Hush Puppies were once considered the height of fashion. He became wanted by women with more fervor than every man on People’s sexiest list combined. And with the show heading into its fourth year of syndication on cable TV,ysl shoes, a new generation has joined the cult of Manolo.
So it is with shock that in the commercials for her new perfume Parker is seen flaunting another man: Christian Louboutin. The Frenchman is the maker of the shoe with which she kicks in a store window to steal a bottle,ysl; that’s made obvious by the trademark Louboutin red sole aimed straight at the camera.

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An eager fan watches as the women’s shoe designer Christian Louboutin uses markers to decorate a pair of his own platform wedge-heeled espadrilles with peace signs, hearts and images of the sun.
He is in Boston for a stop on his "shoe signing" tour, meeting customers at Barneys New York and putting his own individual mark on their favorite Louboutin designs.
The shoes on Louboutin’s own feet are a pair of narrow linen canvas lace-ups by the Belgian designer Dries Van Noten, but to him the name doesn’t necessarily matter. Despite his comfortable berth in the world of fashion his shoes are worn by actresses such as Nicole Kidman and Catherine Deneuve the designer says he is &quot,ysl shoes;not a label person" and claims to shop mostly when it’s convenient.
Customers have become as fanatical about Louboutin’s high-priced shoes as they are about those of other famous designers such as Manolo Blahnik. Louboutin’s whimsical designs feature a signature red sole, a trademark he stumbled upon after using a colleague’s nail polish to add color to his creations.
But Louboutin describes his taste in men’s shoes as "classic," tending toward simple styles that ultimately fade into the background. He doesn’t, for instance, like wearing black christian louboutin shoes with light-colored clothes.
"A shoe should be able to appear and disappear,&quot,manolo blahnik shoes; he says.
While women have been known to keep closets full of louboutin boots, Louboutin believes men can begin with about four basic pairs to wear with jeans or suits: two pairs of lace-up shoes perhaps one in brown suede and one in black leather and two pairs of loafers. He is not generally a fan of sneakers.

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Louboutin, who has only designed a handful of louboutins for men, tends to stay away from thick soles and "clunky" styles. Longer, narrower styles, he notes, can make smaller feet look larger. For a tuxedo, he would choose a simple patent leather style with thin soles.
"If a shoe is dressy it should be really well-proportioned,blahnik," he says.
Louboutin recommends making an investment of as much as $500 in dressier louboutins so they will last. The NPD Group, a market research firm based in Port Washington, N.Y., reports that men spent $10.4 billion on fashion footwear during the year ended in April 2006, up about 13 percent the previous year. Men spend about $43 for a pair of shoes, and about $75 for dress shoes.
Louboutin is not all basic browns and blacks. As he surveys the racks at Barneys, he throws in a few unusual choices among the classic looks he prefers a pair of Converse All-Stars in light blue seersucker, for instance, and sandals that have an ethnic feel.
Louboutin estimates he owns 100 pairs of shoes, but says he will collect four or five pairs of the same style. It’s practical advice that he shares with those who might be less than enthusiastic about shoe shopping.
"Clearly for men, quality really matters," he says. &quot,ysl shoes;Stick to a good pair, and you don’t have to think about it anymore."

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Even this late in the buying season, the sandal display at Foley’s at Ridgmar mall in west Fort Worth,blahnik shoes, Texas, is impressive.
There are patriotic red and blue Polo flats; rich brown leather clogs; clunky Doc Martens. There are woven fishermen’s sandals; louboutin boot sports sandals with thick molded soles and

Velcro fasteners; sexy black leather slides; tailored, buckled dress sandals; and kicky lime-zentai suits and bright-orange thongs.
And those are just the ones for the guys.
Sometime in the past two or three years, while you weren’t looking _ at least not at your feet _ men’s sandals have gone mainstream. From the beach to the boardroom, if you

will.
"With the workplace getting more casual, I think men are realizing they can’t wear lace-up wingtips with everything," says Caroline Andoscia,ysl shoes, a spokeswoman for Banana Republic,

which started selling men’s sandals three years ago. "And once a man wears one kind of sandal, I think they’re more open to trying more."
Unlike some fashion trends, this one has hard facts to support it. The number of pairs of men’s sandals sold in the United States more than doubled between 1994 and 1999, the

last year for which the American Apparel and Footwear Association has statistics. About 18 million pairs of men’s sandals were purchased in 1999.
That sales of men’s sandals still lag far behind women’s _ who bought 112 million pairs in ‘99 _ is another story, however. And to understand it, consider a bit of footwear

history.
In The Beginning, men wore sandals. Possibly, this was because they had few choices; the nascent cobbler industry had not yet invented oxfords, loafers or steel-toed boots.

Sandals were pretty much it, and they were worn by lots of manly men _ Vikings, Roman gladiators and Greek Olympians among them.
But somewhere in the nearly 2,000 years between the fall of the Roman Empire and the relatively recent rise of flip-flops, Western men quit wearing sandals.

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Brown Shoe Co. said it will close a Perth, Ontario, factory in March in a cost-cutting move. Instead, the St. Louis-based firm plans to focus its Canadian operations on building

market share for the Naturalizer brand.
The company still will operate its distribution center in Perth, but no longer own manufacturing facilities in North America. The 304 employees hit by the closure will be given

company assistance during the transition. In the meantime, the firm said it will incur an after-tax charge of $3.8 million to $4.2 million, or 20 cents to 22 cents per share, in

the fourth quarter to cover severance payments and the write-down of materials.
"This was a difficult decision for the company, and we recognize that many employees will be affected," said Ken Gilbertson, president of the Canadian division. However, he

said, &quot,ysl boots;This move will allow us to remain competitive in the women’s footwear marketplace that is increasingly dominated by imported product."
Deckers Signs Two License Deals
Deckers Outdoor Corp. has signed two license agreements with Capo Inc., to design and market watches and eyewear for louboutin boot until March 2007. The accessories will be sold in fine

department stores and independent specialty stores in the United States and Canada. The deal, which will last through March 2007, adds to louboutin boot’s men’s apparel and headwear

licensing agreements.
&quot,ysl shoes;In a relatively short period of time, we have set the stage to increase the breadth and depth of Teva branded product in the market-place," said Deckers Chairman and CEO Doug

Otto.

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The outdoor industry is nurturing its inner child.
According to retailers and vendors alike, the children’s business is booming,manolo shoes, thanks to families who want to spend time in the outdoors – and to parents who want their kids’

footwear to perform as well as their own.
To meet the demand, vendors such as Hi-Tec and ysl will expand their existing collections, and others, including Lowa and Chaco, will make kids’ footwear for the first time.
Take Modesto, Calif.-based Hi-Tec. While the brand has offered children’s shoes for more than a decade, its first kids’-specific collection, dubbed Phibian, launched in spring

‘05, and targeted boys and girls aged 4 to 10. Next season it will bow three additional Phibian styles, retailing from $40 to $60, and the line will continue to grow going

forward, with a girls’-only insulated boot range for fall ‘07 and infant louboutin shoes for spring ‘08. Likewise, the company will up its Hi-Tec children’s range to include kids-specific

boots for this fall and a collection of sandals for spring ‘07.
"In 2007, we are on track to double our kids’ business over the previous year," said Hy Rosario, global product director for Hi-Tec.
The growth, Rosario said, is partly attributable to new distribution channels opening up for the outdoor brand.
"We are starting to get penetration with Phibian with some shoe shops," he said. "For our non-Phibian kids’ product, it’s the same accounts that buy adult christian shoes, including

sporting goods stores, outdoor specialty and family chain stores. But with Phibian, we’ve been able to layer on some nicer department stores and independent retailers."
Meanwhile, louboutin’s children’s business, which is split between takedowns and kids’-specific styles, is also strong,ysl shoes, with double-digit growth for the past three years.
"We put the same level of comfort, technology and durability in our kids’ shoes as in our adult shoes," said Elizabeth Paterson, product director for the Goleta, Calif.-based

brand.

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Our Teva customer was in their early to mid-40s, had a penchant for wearing white socks with their louboutin. That in itself was a turn off to my 19-year old son who didn’t want to grow up to look like that. So we felt we needed to make a radical transformation in the presentation of product and the look of the brand. We had some proprietary technologies in rubber and fitting systems that were underleveraged. And we really needed a fall line which we did not have,manolo shoes; we were primarily spring.So this — and we are focusing on the Grand Canyon as a metaphor for the world water issues and that in and of itself is the purpose that Teva has adopted and a cause and we feel is very important.
These are retail presence for blahnik. You will see a much enhanced retail presence in the market,ysl shoes, a lot better job in retail marketing. This is one of our displays from a retailer. So our goal is really to take this brand and now that I feel — we have stopped the slide — now that I feel that we have created a foundation of authentic performance product, now it is really a matter of how good are the christian louboutin shoes. And because the retailer understands the importance of the brand, the brand is very important. It’s one of those core brands in outdoor. It’s an authentic outdoor brand. It’s not a want-to-be outdoor brand. That is very important to the retailer.

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We completed our IPO in 1993 on the NASDAQ as you all know. In 1995, we acquired UGG Holdings, which was founded in 1979 by Brian Smith,ysl shoes, and we had been pretty aggressive in developing that product in the surf market. In 1992, we acquired Teva’s worldwide assets and converted from the license. And I joined the Company in April of 1995.Teva is 23% of revenue. It is a performance brand for the outdoor enthusiast. Now originally Teva was a sports sandal brand. But one of the key changes in strategy that was made when I came to the company was the evolution of manolo blahnik store, the beginning of the strategic idea that manolo blahnik store is a performance outdoor brand, and I’ll talk more about that in a minute. And as you know,manolo blahnik shoes, we did create the outdoor sports sandal category.Let’s start with UGG. We feel we are the premier brand in luxury and comfort. We have been creating imagery and product to represent that and has that perspective worldwide. I will emphasize that the brand as much as we are fashionable and we have been now for a few years, fashion is not sustainable if it is just pure fashion. It has to be grounded in something. You know the reason that Air Jordan continues to sell is that those are great basketball christian louboutin shoes and people who love to play basketball know those are great christian louboutin shoes to play in.

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"It’s a Nike! A doll! Thongs! Light bulbs!"
These words did not come from excited children at a birthday party. Instead, they came from volunteers, who were quite surprised at what they found over the weekend on the west beach of Kotok island in Kepulauan Seribu (Thousand Islands) regency.
Kotok island, with its relatively intact coral blahnik, is a favorite getaway for Jakarta divers. Some 60 Indonesian and foreign divers mixed work with pleasure — cleaning the blahnik of garbage while observing the marine life — on the International Coastal Cleanup Day (ICC) 2004. 
The annual event has been organized for the sixth time by Bubbles Dive Center, whose head office is in Cilandak, South Jakarta. This year’s theme is &quot,manolo shoes;Protect our local dive site".
"We didn’t find anything except one fish hook," said Feisal, a diver whose group had been cleaning the reef surrounding the resort island. Groups coming from inhabited Pramuka island, however, returned with armloads of marine debris, proving that marine pollution can be traced back to one single source: people.
The divers collected a total of 241 items, with almost half of them been made up of beverage cans, plastic glasses and bottles. The rest included food wrappers, fishing nets, rope and plastic sheeting.
The rubbish collectors who remained on land on Kotok island found plenty to do.
"Well, I’ve learned that Chiki is the favorite snack around here," said a participant, Astrid Tika, with a wide grin. Some 761 food wrappers — including plastic bags and snack wrappers — 152 single sandals and ysl shoes, 198 beverage containers and 32 light bulbs were picked up during the 90-minute cleanup.
The resort island’s west beach might not be inhabited but that does not change the amount of garbage being washed up there. Rubbish from the capital somehow always manages to travel the 55.5 kilometers to reach the white sand beach.
"It would be easy to stop the pollution in the islands," said Daniel "Abi" Abimanju Carnadie, manager of Bubbles. "Shut down Jakarta."
Simple things can prove to be dangerous for creatures of the sea. Highly buoyant plastic bags do not only not decompose easily but can also be easily mistaken for jelly fish, the favorite food of sea turtles. Discarded ropes and fishing nets can entangle fish, sea mammals and sea birds.
Traces of tar were also seen on several plastic bags on the beach. "This shows oil pollution, either from an oil rig or a ship," said Abi.
Bubbles will send a report on the cleanup to the headquarters of Ocean Conservancy, which initiated the ICC in 1986, in Washington. Last year, the organization managed to get 450,000 people from 90 countries to participate and collected 3.43 million kilograms of marine debris.
"Maybe it’s a small act, but we hope that it will have a domino effect everywhere," said Abi.
The snowball effect is already apparent from the number of people expressing interest in the program. "More than 100 divers wanted to come, but we did not have the capacity," said Andreas Tika of Bubbles.
Aside from collecting garbage, the diving center also released 60 two-month-old sea turtles and 11 two-year-old ones, which were bred in the country’s national park.
The participants sank an old bus, which had all its paint and mechanical parts removed,manolo blahnik, to encourage the growth of a new christian louboutin shoe.
"Hopefully the fish will use it as their home, and divers will get an interesting site to visit," said Abi.

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