It's a smart decision to franchise if you want to grow a brand globally. It's especially hard for an apparel retailer -- few have been successful going outside of their home market.

Either way, we view this as a positive, as this business will either be turned around or disposed of.

We are encouraged by the better-than-expected (comparable-store sales) ... but we note that high promotional activity will likely continue to pressure merchandise margins.

There's obviously a lot of opportunity in Asia. It helps their global presence, but is not going to move the needle. The real core issue for the investment community is less about international and more what is going on domestically for the entire brand and company.

It's considered a confidential business decision.

It is often said that a wrong decision taken at the right time is better than a right decision taken at the wrong time.