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.

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

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 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.

Sentiment will swing back in favor of a Federal Reserve rate hike in August if June retail sales rebound.

If sales prices come down a little bit, it will open the doors for more buyers to come into the housing market.