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Good morning and thank Miami Heats Snapback you for being with u

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Good morning and thank Miami Heats Snapback you for being with us today. With me is Jim Gulmi, our Chief Financial Officer; and as a reminder, Jims detailed review of the quarterly financials has been posted to our website along with the press release from earlier this morning. Ill begin the call today with a few remarks about the third quarter and our November sales performance, and also provide Miami Heats Snapback Hats some color on the start of holiday shopping. Then, Ill turn the call over to Jim for a review of the numbers and then I will return to provide an overview of our operating segments and our updated five-year plan before we open the call up for questions.
Penn State has won four of its NBA Snapback Hats last five ACC/Big Ten Challenge games and holds a 5-6 record in 11 Challenge appearances to rank sixth among Big Ten teams with five Challenge wins. The Big Ten won the Challenge for the third-straight year in 2011 as the conference posted a dominating 8-4 tally, the Big Ten's largest-ever winning margin and a mark equaling the most number of wins for a conference in the series. The ACC also won eight games in 2006 and 2007 and won the initial 10 Challenges. Seven of the previous 13 Challenges have been decided by one game. NCAA Snapback Hats The ACC has won 10 of the 13 Challenges. In 2010, Penn State became the first ever Big Ten program to win Challenge games in three consecutive seasons. Penn State has previously won games vs. Virginia Tech (2007), at Georgia Tech (2008) and at Virginia (2009) in its last five Challenge games. The Lions fell to Maryland (62-39) in their last home Challenge appearance in 2010.
The 14th annual ACC-Big Ten Miami Heat Hats Challenge kicked off last night with some marquee match-ups between the elite from the ACC and Big Ten conferences widely considered to be the best in the country. Tonight at the Bryce Jordan Center, Penn State will look to do its part to prove that the Big Ten is the best college basketball conference in the country.
Historically, a solid back-to-school performance has been an indication that our merchandise is well positioned for NFL Snapback Hats holiday. That said, our current guidance of essentially flat comps for the fourth quarter reflect several factors: first, a tough comparison with the fourth quarter last year when comps were up 12%; second, the likelihood that we will not recoup all of the sales lost to the hurricane in the fourth quarter; and finally our expectations for only partial improvement in some of the near-term challenges in the Lids businesses, challenges that they were dealing with in the third quarter. I will discuss these challenges when we discuss the Lids business in more detail later in the call.

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