we have expanded our portfolio of proprietary and licensed brands through acquisitions and by entering into license agreements for new brands or for additional products under previously licensed brands . our acquisitions have helped to broaden our product offerings , expand our ability to serve different tiers of distribution and add a retail component to our business . our acquisitions are part of our strategy to expand our product offerings and increase the portfolio of proprietary and licensed brands that we offer through different tiers of retail distribution and at a variety of price points . 30 we believe that both andrew marc and the wilsons outlet business leverage our core strength in outerwear and provide us with new avenues for growth . we also believe that these acquisitions complement our other licensed brands , g-iii owned labels and private label programs . we have used the capabilities of companies we acquired to help us expand our product offerings . the jessica howard dress operations we acquired expanded and complemented our dress business that began shipping under the calvin klein label in september 2006. we added to our dress business when we expanded our license with ellen tracy to include dresses and again when we entered into a license agreement for jessica simpson dresses . we continued to grow our dress business when we expanded our relationship with guess in 2010 to include dresses and added licenses in 2011 for dresses with each of vince camuto and kensie . we also intend to grow our jessica howard and eliza j brands and expand private label programs to further develop our dress business . when we acquired andrew marc , it was a supplier of fine outerwear and handbags for both men and women to upscale specialty and department stores . we have since expanded our product categories and product offerings for andrew marc , both in house and through licensing arrangements . we have expanded the distribution of outerwear by penetrating additional doors and selling into new channels of distribution . we enhanced our website for andrew marc ( www.andrewmarc.com ) to expand our online product offerings . we launched andrew marc and marc new york dress lines which began shipping in fall 2009 , leveraging our g-iii dress capabilities and our manufacturing sources . we added to the andrew marc family of brands by creating the marc moto brand , the marc moto offering contains vintage inspired product that embraces legendary style . it is a denim lifestyle collection targeted toward young , independent men . we began a program to license our andrew marc and marc new york brands and have entered into agreements to license these brands for women 's footwear , men 's accessories , women 's handbags , men 's cold weather accessories , men 's denim and related sportswear , eyewear , men 's dress shirts , men 's tailored clothing , men 's footwear , watches , neckwear and sweaters . we have entered into agreements that terminate the license agreements with respect to women 's handbags and men 's denim and related sportswear , and are now pursuing these initiatives in-house . our retail operations segment , which consists almost entirely of our wilsons outlet store business , had an operating loss during fiscal 2009 and fiscal 2010 , although it achieved an operating profit in fiscal 2011 and fiscal 2012. beginning in fiscal 2010 , we undertook the following initiatives to improve the performance of our outlet business : improve the merchandise mix of outerwear at our stores , with increased emphasis on leather outerwear and a stronger assortment of private label product ; emphasize presentation of product in our stores and training of our sales associates ; and incorporate an improved mix of private label and branded accessories . as a result of these initiatives , the amount of the operating loss in our retail segment was reduced in fiscal 2010 , and the retail segment achieved an operating profit in each of fiscal 2011 and 2012. we continue to believe that operation of the wilsons outlet stores is part of our core competency , as outerwear comprised about one-half of our net sales at wilsons in fiscal 2012. we expect to continue to implement and refine these initiatives with a view to creating a store concept that is capable of building growth and profitability over the long-term . during fiscal 2012 , we increased the number of our wilson outlet stores by 5 and opened 4 new andrew marc outlet stores . we expect to add approximately 14 new outlet stores in fiscal 2013. during the third quarter of fiscal 2011 , we formed a joint venture with the camuto group to operate footwear and accessory outlet stores under the name vince camuto. the camuto group provides product and merchandises the stores . we provide the infrastructure and expertise for operation of the stores , including real estate , distribution , information systems , finance and administration . both companies share equally in the capital costs of the joint venture . the joint venture opened the first vince camuto outlet store in april 2011 and , as of january 31 , 2012 , 11 of these stores were in operation . we are accounting for our share of this joint venture under the equity method . 31 in november 2011 , we entered into a license agreement granting us the retail rights to distribute and market calvin klein women 's performance apparel in the united states and china . we opened our first calvin klein performance store in scottsdale , arizona in february 2012 and expect to open approximately 2 additional stores in the u.s. in fiscal 2013. in march 2012 , we entered into a joint venture agreement with finity apparel retail limited to open and operate calvin klein performance retail stores in china and hong kong . story_separator_special_tag gross profit increased to $ 370.7 million , or 30.1 % of net sales , for fiscal 2012 from $ 351.0 million , or 33.0 % of net sales , for fiscal 2011. the gross profit in our wholesale licensed product segment increased to $ 223.0 million , or 26.5 % of net sales , in fiscal 2012 from $ 213.6 million , or 29.7 % of net sales , in the prior year . the gross profit in our wholesale non-licensed product segment increased to $ 72.1 million in fiscal 2012 , or 26 % of net sales , from $ 70.5 million , or 28.9 % of net sales , in fiscal 2011. the gross profit in our retail operations segment increased to $ 75.6 million , or 46.0 % of net sales , for fiscal 2012 from $ 67.0 million , or 47.1 % of net sales , for fiscal 2011. we experienced significant increases in wholesale product costs during the year and were not always able to increase selling prices to offset cost increases . the gross margins in all three segments were impacted by promotional activity throughout the year and also by the unseasonably warm weather in our fourth fiscal quarter , which resulted in lower discounted initial selling prices and additional markdown support . selling , general and administrative expenses increased to $ 277.0 million in fiscal 2012 from $ 248.4 million in the prior year . selling , general and administrative expenses increased primarily as a result of increases in personnel costs ( $ 8.3 million ) , advertising and promotion expenses ( $ 7.2 million ) and third party warehousing costs ( $ 5.2 million ) . personnel costs increased primarily as a result of the addition of new product lines as well as an 36 increase in personnel to staff additional outlet stores in our retail division , offset in part by reduced bonus payments as a result of lower profitability . advertising costs increased because sales of licensed product increased and we typically pay an advertising fee under our license agreements based on a percentage of sales of licensed product . we also experienced an increase in advertising chargebacks by customers . third party warehousing costs increased as a result of our increased shipping volume as well as higher inventory balances compared to last year . depreciation and amortization increased to $ 7.5 million in fiscal 2012 from $ 5.7 million in the prior year primarily as a result of leasehold improvements and fixtures added during fiscal 2011 for the additional showroom and office space we leased . equity loss in joint venture of $ 1.3 million in fiscal 2012 represents our share of the loss in the joint venture relating to the operation of vince camuto outlet stores . as this joint venture commenced operations in the fourth quarter of fiscal 2011 , there is no amount for this item in the prior year . interest and finance charges , net for fiscal 2012 increased to $ 5.7 million from $ 4.0 million in the prior year . our interest charges were higher because of higher average borrowings under our credit facility , primarily as a result of higher inventory levels . income tax expense for fiscal 2012 decreased to $ 29.6 million from $ 36.2 million in the prior year . the effective rate for fiscal 2012 was 37.4 % compared to an effective tax rate for fiscal 2011 of 39.0 % . the effective tax rate is lower primarily due to foreign tax savings realized during the current period . year ended january 31 , 2011 ( fiscal 2011 ) compared to year ended january 31 , 2010 ( fiscal 2010 ) net sales for fiscal 2011 increased to $ 1.06 billion from $ 800.9 million in the prior year . net sales of wholesale licensed product accounted for 67.6 % of our net sales in fiscal 2011 compared to 65.4 % of our net sales in fiscal 2010. excluding net sales in the retail segment , net sales of wholesale licensed product accounted for 74.6 % of net sales of wholesale product in fiscal 2011 and 73.5 % of net sales of wholesale product in fiscal 2010. net sales of wholesale licensed product increased to $ 718.5 million in fiscal 2011 from $ 523.6 million in fiscal 2010. this increase was primarily the result of an increase of $ 143.6 million in net sales of calvin klein licensed product , primarily attributable to increased sales of dresses and women 's sportswear , as well as increased net sales of $ 19.9 million in guess outerwear and $ 16.2 million in kenneth cole outerwear . net sales of wholesale non-licensed product increased to $ 244.0 million in fiscal 2011 from $ 188.3 million in fiscal 2010 , primarily due to increased net sales of $ 32.1 million in private label outerwear , $ 12.9 million in our andrew marc products and $ 10.8 million in our jessica howard/eliza j dresses . net sales of our retail operations increased to $ 142.3 million in fiscal 2011 from $ 126.6 million in fiscal 2010 primarily as a result of various performance improvement initiatives we implemented beginning in fiscal 2010 and continued in fiscal 2011 , as well as an increase in the number of stores in fiscal 2011. net sales resulting from new stores opened in fiscal 2011 were approximately $ 5.7 million . gross profit increased to $ 351.0 million , or 33.0 % of net sales , for fiscal 2011 from $ 266.9 million , or 33.3 % of net sales , in the prior year . the gross profit in our wholesale licensed product segment increased to $ 213.6 million , or 29.7 % of net sales , for fiscal 2011 from $ 156.2 million , or 29.8 % of net sales , in the prior year . the gross profit in our wholesale non-licensed product

liquidity and capital resources our primary operating cash requirements are to fund our seasonal buildup in inventories and accounts receivable , primarily during the second and third fiscal quarters each year . due to the seasonality of our business , we generally reach our peak borrowings under our asset-based credit facility during our third fiscal quarter . the primary sources to meet our operating cash requirements have been borrowings under this credit facility and cash generated from operations . we also raised cash from an offering of our common stock in december 2009 as described below . we had a net debt position of $ 5.4 million at january 31 , 2012 compared to cash of $ 10.0 million at january 31 , 2011. public offering in december 2009 , we sold 1,907,010 shares of our common stock , including 207,010 shares sold pursuant to the exercise of the underwriters ' over-allotment option , at a public offering price of $ 19.50 per share . we received net proceeds of $ 34.7 million from this offering after payment of the underwriting discount and expenses of the offering . the net proceeds we received were used for general corporate purposes to support the growth of our business . financing agreement we have a financing agreement with jpmorgan chase bank , n.a. , as agent for a consortium of banks . the financing agreement is a senior secured revolving credit facility . the financing agreement was amended in may 2010 to ( a ) increase the maximum line of credit from $ 250 million to $ 300 million , ( b ) reduce the interest rate on borrowings by 0.25 % to , at our option , the prime rate plus 0.50 % or libor plus 2.75 % , ( c ) extend the maturity of the loan from july 11 , 2011 to july 31 , 2013 , and ( d ) revise the maximum senior leverage ratio that we must maintain . the financing agreement provides for a maximum revolving line of credit of $ 300 million . amounts available under the line are subject to borrowing base formulas and over advances as specified in the financing agreement .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our primary operating cash requirements are to fund our seasonal buildup in inventories and accounts receivable , primarily during the second and third fiscal quarters each year . due to the seasonality of our business , we generally reach our peak borrowings under our asset-based credit facility during our third fiscal quarter . the primary sources to meet our operating cash requirements have been borrowings under this credit facility and cash generated from operations . we also raised cash from an offering of our common stock in december 2009 as described below . we had a net debt position of $ 5.4 million at january 31 , 2012 compared to cash of $ 10.0 million at january 31 , 2011. public offering in december 2009 , we sold 1,907,010 shares of our common stock , including 207,010 shares sold pursuant to the exercise of the underwriters ' over-allotment option , at a public offering price of $ 19.50 per share . we received net proceeds of $ 34.7 million from this offering after payment of the underwriting discount and expenses of the offering . the net proceeds we received were used for general corporate purposes to support the growth of our business . financing agreement we have a financing agreement with jpmorgan chase bank , n.a. , as agent for a consortium of banks . the financing agreement is a senior secured revolving credit facility . the financing agreement was amended in may 2010 to ( a ) increase the maximum line of credit from $ 250 million to $ 300 million , ( b ) reduce the interest rate on borrowings by 0.25 % to , at our option , the prime rate plus 0.50 % or libor plus 2.75 % , ( c ) extend the maturity of the loan from july 11 , 2011 to july 31 , 2013 , and ( d ) revise the maximum senior leverage ratio that we must maintain . the financing agreement provides for a maximum revolving line of credit of $ 300 million . amounts available under the line are subject to borrowing base formulas and over advances as specified in the financing agreement .
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 Suspicious Activity Report : we have expanded our portfolio of proprietary and licensed brands through acquisitions and by entering into license agreements for new brands or for additional products under previously licensed brands . our acquisitions have helped to broaden our product offerings , expand our ability to serve different tiers of distribution and add a retail component to our business . our acquisitions are part of our strategy to expand our product offerings and increase the portfolio of proprietary and licensed brands that we offer through different tiers of retail distribution and at a variety of price points . 30 we believe that both andrew marc and the wilsons outlet business leverage our core strength in outerwear and provide us with new avenues for growth . we also believe that these acquisitions complement our other licensed brands , g-iii owned labels and private label programs . we have used the capabilities of companies we acquired to help us expand our product offerings . the jessica howard dress operations we acquired expanded and complemented our dress business that began shipping under the calvin klein label in september 2006. we added to our dress business when we expanded our license with ellen tracy to include dresses and again when we entered into a license agreement for jessica simpson dresses . we continued to grow our dress business when we expanded our relationship with guess in 2010 to include dresses and added licenses in 2011 for dresses with each of vince camuto and kensie . we also intend to grow our jessica howard and eliza j brands and expand private label programs to further develop our dress business . when we acquired andrew marc , it was a supplier of fine outerwear and handbags for both men and women to upscale specialty and department stores . we have since expanded our product categories and product offerings for andrew marc , both in house and through licensing arrangements . we have expanded the distribution of outerwear by penetrating additional doors and selling into new channels of distribution . we enhanced our website for andrew marc ( www.andrewmarc.com ) to expand our online product offerings . we launched andrew marc and marc new york dress lines which began shipping in fall 2009 , leveraging our g-iii dress capabilities and our manufacturing sources . we added to the andrew marc family of brands by creating the marc moto brand , the marc moto offering contains vintage inspired product that embraces legendary style . it is a denim lifestyle collection targeted toward young , independent men . we began a program to license our andrew marc and marc new york brands and have entered into agreements to license these brands for women 's footwear , men 's accessories , women 's handbags , men 's cold weather accessories , men 's denim and related sportswear , eyewear , men 's dress shirts , men 's tailored clothing , men 's footwear , watches , neckwear and sweaters . we have entered into agreements that terminate the license agreements with respect to women 's handbags and men 's denim and related sportswear , and are now pursuing these initiatives in-house . our retail operations segment , which consists almost entirely of our wilsons outlet store business , had an operating loss during fiscal 2009 and fiscal 2010 , although it achieved an operating profit in fiscal 2011 and fiscal 2012. beginning in fiscal 2010 , we undertook the following initiatives to improve the performance of our outlet business : improve the merchandise mix of outerwear at our stores , with increased emphasis on leather outerwear and a stronger assortment of private label product ; emphasize presentation of product in our stores and training of our sales associates ; and incorporate an improved mix of private label and branded accessories . as a result of these initiatives , the amount of the operating loss in our retail segment was reduced in fiscal 2010 , and the retail segment achieved an operating profit in each of fiscal 2011 and 2012. we continue to believe that operation of the wilsons outlet stores is part of our core competency , as outerwear comprised about one-half of our net sales at wilsons in fiscal 2012. we expect to continue to implement and refine these initiatives with a view to creating a store concept that is capable of building growth and profitability over the long-term . during fiscal 2012 , we increased the number of our wilson outlet stores by 5 and opened 4 new andrew marc outlet stores . we expect to add approximately 14 new outlet stores in fiscal 2013. during the third quarter of fiscal 2011 , we formed a joint venture with the camuto group to operate footwear and accessory outlet stores under the name vince camuto. the camuto group provides product and merchandises the stores . we provide the infrastructure and expertise for operation of the stores , including real estate , distribution , information systems , finance and administration . both companies share equally in the capital costs of the joint venture . the joint venture opened the first vince camuto outlet store in april 2011 and , as of january 31 , 2012 , 11 of these stores were in operation . we are accounting for our share of this joint venture under the equity method . 31 in november 2011 , we entered into a license agreement granting us the retail rights to distribute and market calvin klein women 's performance apparel in the united states and china . we opened our first calvin klein performance store in scottsdale , arizona in february 2012 and expect to open approximately 2 additional stores in the u.s. in fiscal 2013. in march 2012 , we entered into a joint venture agreement with finity apparel retail limited to open and operate calvin klein performance retail stores in china and hong kong . story_separator_special_tag gross profit increased to $ 370.7 million , or 30.1 % of net sales , for fiscal 2012 from $ 351.0 million , or 33.0 % of net sales , for fiscal 2011. the gross profit in our wholesale licensed product segment increased to $ 223.0 million , or 26.5 % of net sales , in fiscal 2012 from $ 213.6 million , or 29.7 % of net sales , in the prior year . the gross profit in our wholesale non-licensed product segment increased to $ 72.1 million in fiscal 2012 , or 26 % of net sales , from $ 70.5 million , or 28.9 % of net sales , in fiscal 2011. the gross profit in our retail operations segment increased to $ 75.6 million , or 46.0 % of net sales , for fiscal 2012 from $ 67.0 million , or 47.1 % of net sales , for fiscal 2011. we experienced significant increases in wholesale product costs during the year and were not always able to increase selling prices to offset cost increases . the gross margins in all three segments were impacted by promotional activity throughout the year and also by the unseasonably warm weather in our fourth fiscal quarter , which resulted in lower discounted initial selling prices and additional markdown support . selling , general and administrative expenses increased to $ 277.0 million in fiscal 2012 from $ 248.4 million in the prior year . selling , general and administrative expenses increased primarily as a result of increases in personnel costs ( $ 8.3 million ) , advertising and promotion expenses ( $ 7.2 million ) and third party warehousing costs ( $ 5.2 million ) . personnel costs increased primarily as a result of the addition of new product lines as well as an 36 increase in personnel to staff additional outlet stores in our retail division , offset in part by reduced bonus payments as a result of lower profitability . advertising costs increased because sales of licensed product increased and we typically pay an advertising fee under our license agreements based on a percentage of sales of licensed product . we also experienced an increase in advertising chargebacks by customers . third party warehousing costs increased as a result of our increased shipping volume as well as higher inventory balances compared to last year . depreciation and amortization increased to $ 7.5 million in fiscal 2012 from $ 5.7 million in the prior year primarily as a result of leasehold improvements and fixtures added during fiscal 2011 for the additional showroom and office space we leased . equity loss in joint venture of $ 1.3 million in fiscal 2012 represents our share of the loss in the joint venture relating to the operation of vince camuto outlet stores . as this joint venture commenced operations in the fourth quarter of fiscal 2011 , there is no amount for this item in the prior year . interest and finance charges , net for fiscal 2012 increased to $ 5.7 million from $ 4.0 million in the prior year . our interest charges were higher because of higher average borrowings under our credit facility , primarily as a result of higher inventory levels . income tax expense for fiscal 2012 decreased to $ 29.6 million from $ 36.2 million in the prior year . the effective rate for fiscal 2012 was 37.4 % compared to an effective tax rate for fiscal 2011 of 39.0 % . the effective tax rate is lower primarily due to foreign tax savings realized during the current period . year ended january 31 , 2011 ( fiscal 2011 ) compared to year ended january 31 , 2010 ( fiscal 2010 ) net sales for fiscal 2011 increased to $ 1.06 billion from $ 800.9 million in the prior year . net sales of wholesale licensed product accounted for 67.6 % of our net sales in fiscal 2011 compared to 65.4 % of our net sales in fiscal 2010. excluding net sales in the retail segment , net sales of wholesale licensed product accounted for 74.6 % of net sales of wholesale product in fiscal 2011 and 73.5 % of net sales of wholesale product in fiscal 2010. net sales of wholesale licensed product increased to $ 718.5 million in fiscal 2011 from $ 523.6 million in fiscal 2010. this increase was primarily the result of an increase of $ 143.6 million in net sales of calvin klein licensed product , primarily attributable to increased sales of dresses and women 's sportswear , as well as increased net sales of $ 19.9 million in guess outerwear and $ 16.2 million in kenneth cole outerwear . net sales of wholesale non-licensed product increased to $ 244.0 million in fiscal 2011 from $ 188.3 million in fiscal 2010 , primarily due to increased net sales of $ 32.1 million in private label outerwear , $ 12.9 million in our andrew marc products and $ 10.8 million in our jessica howard/eliza j dresses . net sales of our retail operations increased to $ 142.3 million in fiscal 2011 from $ 126.6 million in fiscal 2010 primarily as a result of various performance improvement initiatives we implemented beginning in fiscal 2010 and continued in fiscal 2011 , as well as an increase in the number of stores in fiscal 2011. net sales resulting from new stores opened in fiscal 2011 were approximately $ 5.7 million . gross profit increased to $ 351.0 million , or 33.0 % of net sales , for fiscal 2011 from $ 266.9 million , or 33.3 % of net sales , in the prior year . the gross profit in our wholesale licensed product segment increased to $ 213.6 million , or 29.7 % of net sales , for fiscal 2011 from $ 156.2 million , or 29.8 % of net sales , in the prior year . the gross profit in our wholesale non-licensed product

