Net inventories have increased 9% since the start of the fiscal Atlas toggle necklace, and management's full year objective continues to call for a high-single-digit percentage increase to support sales growth and new store openings. The Company repurchased 798,Atlas shares of its Common Stock in the second quarter at a total cost of $32.9 million, or an average cost of $41.16 per share, and repurchased 1,118,400 shares in the first half at a total cost of $47.1 million, or an average cost of $42.15 per share. Approximately $355 million remains available for future repurchases under the existing plan which expires in January 2011. Mr. Kowalski continued, "We look toward the second half of the year with a sense of Bead bracelet optimism, continuing to grow our worldwide store base and launching a range of exciting new productsluding an extraordinary collection of jewelry with yellow diamonds and an enticing new collection of handbags and leather Beads necklace, among many others."
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