Good day, and welcome to the Destination XL Group Q3 2017 Earnings Conference. Today's conference is being recorded. At this time, I would like to turn things over to Tom Filandro. Please go ahead.

Thank you, Kela and good morning, everyone. Thank you for joining us today on Destination XL Group's third quarter fiscal 2017 earnings call. On our call today is David Levin, our President and Chief Executive Officer; and Peter Stratton, our Senior Vice President and Chief Financial Officer. During today's call we will discuss some non-GAAP metrics to provide investors with useful information about our financial performance. Please refer to our earnings release, which was filed this morning and is available on our Investor Relations website at investor.destinationxl.com for an explanation and reconciliation of such measures. Today's discussion also contains certain forward-looking statements concerning the Company's operations, performance and financial condition including sales, profitability, EBITDA, gross margin, capital expenditures, earnings per share, free cash flow, store openings and closings, and the Company's ability to execute on its strategic plan. Such forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those assumptions mentioned today due to a variety of factors that affect the Company. Information regarding risks and uncertainties as detailed in the Company's filings with the Securities and Exchange Commission. Now, I'd like to turn the call over to our President and CEO, David Levin. David?

Thank you, Tom and good morning everyone. This morning I would provide a brief overview of our third quarter operating results and update you on our strategic initiatives. Most importantly, I will share with you the details of our holiday marketing campaign. I'm confident it will signal a new chapter in the DXL journey as it is anchored on engaging, celebrating and expanding our XL community. This is a powerful campaign with new content, new messaging and new ways to changing the conversation with our XL guide. Let me begin with a few comments on our third quarter performance. Comp sales for the third quarter came in essentially flat which was at the low end of our expectations. Similar to the first half of the year, we experienced the 5% decrease in store traffic for the quarter but improved our conversion in dollars per transaction. On a rolling 12-month basis, our direct-to-consumer business experienced continued growth, representing 20.8% of sales at the end of the quarter compared to 19.5% at last year's third quarter. Overall, sales performance was impacted by two factors that we were not anticipating. First, in seasonally warm weather which was particularly evident in the northeast had a noticeable impact on sales. The comp in our stores in the northeast lagged behind the rest of the country by approximately 400 basis points. Had the northeast performed in line with the rest of the country, our total comp would have improved by 90 basis points. As we said before, the shopping behavior for many of our customers is need based, any offence differs updating as wardrobe until absolutely necessary. We know the change in season typically represents the shopping catalyst for our customers. Assortment performance for the quarter is a clear indication that the catalyst had not yet…

Thank you, David, and good morning everyone. I'd like to start off today with a brief summary of our third quarter 2017 financial results. For the third quarter, net sales increased 1.8% to $103.7 million inclusive of a total company comparable sales decrease of 0.1%. As David mentioned, we were negatively impacted by weak traffic in August and September but traffic improved significantly in the last two weeks of October with the arrival of cold weather which has continued into November. We are now beginning to experience improved comps driven by higher traffic and greater penetration into our cold weather merchandise categories. Gross margin for the third quarter including occupancy costs was 43.2% compared with 44.4% for the third quarter of fiscal 2016. Occupancy cost as a percentage of sales were flat and our merchandise margins decreased by 120 basis points. The reduction in merchandise margin was primarily due to higher markdowns related to our inventory productivity initiatives which we discussed on our second quarter call. We made good progress in the third quarter liquidating some of our slow moving inventory and we expect merchandise margins in the fourth quarter to return to normalized levels consistent with the prior year's fourth quarter. We continue to reduce our inventory on-hand which declined by approximately $8 million compared to this time last year. I'm also pleased to report that we are on-track for a significant year-end inventory decrease of $12 million to $15 million compared to last year. Now turning to SG&A costs; our SG&A dollars increased year-over-year by approximately 1.4% or $600,000 from Q3 of 2016. The increase was driven by higher store payroll and other supporting costs associated with a larger DXL store base and e-commerce initiatives this year compared to last year. Our advertising cost in Q3 were flat…

Okay. Well, what I'd like to do if there are no questions. I'd like to wish those on the call, our stakeholders and our employees a happy and healthy holiday season. I'm confident in our strategic initiatives and particularly excited about our renewed advertising campaign. We're happy to answer any follow-up questions you may have. Feel free to reach out to our IR partners at ICR to coordinate call backs. And thanks, and have a happy holiday everyone.

That concludes today's call. We thank you for your participation. You may now disconnect.