we will make further investments in people and infrastructure in fiscal 2012 , building on the progress we have made through fiscal 2011 , primarily focused on the development of our omni-channel sales strategies , continued progress on our product assortment planning and supply chain solutions , the move of our ecommerce fulfillment center to edwardsville , kansas , and a capital investment related to building a new home office planned to open in the second quarter of fiscal 2012. we anticipate inventory levels per square foot to grow slightly . we expect our cash , short-term investments and working capital to increase , and do not anticipate any borrowings on our credit facility . general net sales constitute gross sales net of actual and estimated returns and deductions for promotions . net sales include our in-store sales and our ecommerce sales , which includes ecommerce shipping revenue . ecommerce sales were 7.3 % , 4.7 % and 2.5 % of total net sales for fiscal 2011 , 2010 and 2009. sales of gift cards are deferred and recognized when gift cards are redeemed . the amount of the gift card liability is determined taking into account our estimate of the portion of gift cards that will not be redeemed or recovered ( gift card breakage ) . gift card breakage is recognized as revenue after 24 months , at which time the likelihood of redemption is considered remote based on our historical redemption data . we report comparable store sales based on net sales beginning on the first anniversary of the first day of operation of a new store . our comparable store sales also include our ecommerce sales , due to the substantial integration of our stores and ecommerce business . changes in our comparable store sales between two periods are based on net sales of stores which were in operation during both of the two periods being compared and , if a store is included in the calculation of comparable store sales for only a portion of one of the two periods being compared , then that store is included in the calculation for only the comparable portion of the other period . any change in square footage of an existing comparable store , including remodels and relocations , does not eliminate that store from inclusion in the calculation of comparable store sales . there may be variations in the way in which some of our competitors and other apparel retailers calculate comparable or same store sales . as a result , data herein regarding our comparable store sales may not be comparable to similar data made available by our competitors or other retailers . cost of goods sold consists of branded merchandise costs and our private label merchandise costs including design , sourcing , importing and inbound freight costs . our cost of goods sold also includes shrinkage and buying , occupancy , distribution and warehousing costs . this may not be comparable to the way in which our competitors or other retailers compute their cost of goods sold . we receive cash consideration from vendors , which have been reported as a reduction cost of goods sold if the inventory has sold , as a reduction of the carrying value of the 29 inventory if the inventory is still on hand , or a reduction of selling , general and administrative expense if the amounts are reimbursements of specific , incremental and identifiable costs of selling the vendors ' products . with respect to the freight component of our ecommerce sales , we arrange and pay the freight for our customers and bill them for this service , unless our customers have their product shipped to one of our stores or we have free shipping promotions to our customers , in which case we do not bill our customers . such amounts billed are included in net sales and the related freight cost is charged to cost of goods sold . selling , general and administrative expenses consist primarily of store personnel wages and benefits , administrative staff and infrastructure expenses , outbound freight , store supplies , depreciation on fixed assets at our home office and stores , facility expenses and training , advertising and marketing costs . credit card fees , insurance , public company expenses , legal expenses and other miscellaneous operating costs are also included in selling , general and administrative expenses . this may not be comparable to the way in which our competitors or other retailers compute their selling , general and administrative expenses . key performance indicators our management evaluates the following items , which we consider key performance indicators , in assessing our performance : comparable store sales . as previously described in detail under the caption general ,  comparable store sales provide a measure of sales growth for stores open at least one year over the comparable prior year period . we consider comparable store sales to be an important indicator of our current performance . comparable store sales results are important to achieve leveraging of our costs , including store payroll and store occupancy . comparable store sales also have a direct impact on our total net sales , cash and working capital . gross profit . gross profit measures whether we are optimizing the price and inventory levels of our merchandise . gross profit is the difference between net sales and cost of goods sold . any inability to obtain acceptable levels of initial markups or any significant increase in our use of markdowns could have an adverse effect on our gross profit and results of operations . operating profit . we view operating profit as a key indicator of our success . the key drivers of operating profit are comparable store sales , gross profit , our ability to control selling , general and administrative expenses and our level of capital expenditures affecting depreciation expense . store productivity . story_separator_special_tag sg & a expenses as a percent of sales decreased by 240 basis points for fiscal 2010 to 27.2 % compared to 29.6 % for fiscal 2009. the primary contributors to this decrease were 110 basis points due to store operating expense efficiencies gained by growing expenses at a slower rate than sales growth , the effect of the change in accounting estimate for the depreciable lives of our leasehold improvements of 90 basis points ( as further explained in note 2 in our notes to consolidated financial statements ) , 60 basis points due to impairment charges of $ 2.5 million on 21 stores in fiscal 2009 and a 30 basis points impact of a litigation settlement charge of $ 1.3 million incurred fiscal 2009 , partially offset by a 40 basis points impact of a litigation settlement charge of $ 2.1 million incurred in fiscal 2010. exit or disposal activities on march 2 , 2010 , we acquired a 168,450 square foot building in corona , california for $ 11.8 million and we have relocated our distribution facility from everett , washington to this facility . we believe that we will be more effective distributing our products through a distribution center located in corona , california due to the majority of our vendors being located in southern california . cumulatively , during fiscal 2010 , we recorded $ 0.9 million of employee benefit costs ( severance and performance bonuses ) , $ 0.6 million of lease termination costs , $ 0.3 million of loss on disposal of long-lived assets and $ 0.8 million of other costs to exit the facility , partially offset by a $ 0.2 million benefit for the related deferred rent liability . these amounts are included in cost of goods sold in our consolidated statements of operations . net income net income for fiscal 2010 was $ 24.2 million , or $ 0.79 per diluted share , compared with net income of $ 9.1 million , or $ 0.30 per diluted share , for fiscal 2009. our effective income tax rate for fiscal 2010 was 37.7 % compared to 34.8 % for fiscal 2009. seasonality and quarterly results as is the case with many retailers of apparel and related merchandise , our business is subject to seasonal influences . as a result , we have historically experienced , and expect to continue to experience , seasonal and quarterly fluctuations in our net sales and operating results . our net sales and operating results are typically lower in the first and second fiscal quarters of our fiscal year , while the back-to-school and winter holiday periods in our third and fourth fiscal quarters historically have accounted for the largest percentage of our annual net sales . quarterly results of operations may also fluctuate significantly as a result of a variety of factors , including the timing of store openings and the relative proportion of our new stores to mature stores , fashion trends and changes in consumer preferences , calendar shifts of holiday or seasonal periods , changes in merchandise mix , timing of promotional events , general economic conditions , competition and weather conditions . the following table sets forth selected unaudited quarterly consolidated statements of operations data for the last two recent fiscal years . the unaudited quarterly information has been prepared on a basis consistent with the audited consolidated financial statements included elsewhere herein and includes all adjustments that we 35 consider necessary for a fair presentation of the information shown . this information should be read in conjunction with our audited consolidated financial statements and the notes thereto . the operating results for any fiscal quarter are not indicative of the operating results for a full fiscal year or for any future period and there can be no assurance that any trend reflected in such results will continue in the future . replace_table_token_11_th ( 1 ) all quarters in fiscal year ended january 28 , 2012 are 13 week periods ended april 30 , 2011 , july 30 , 2011 , october 29 , 2011 and january 28 , 2012 . ( 2 ) all quarters in fiscal year ended january 29 , 2011 are 13 week periods ended may 1 , 2010 , july 31 , 2010 , october 30 , 2011 and january 29 , 2011 . ( 3 ) gross profit for the first , second and third quarters of the fiscal year ended january 28 , 2012 and all quarters for the fiscal year ended january 29 , 2011 have been revised to account for the reclassification of certain expenses from selling , general and administrative expenses to cost of goods sold . liquidity and capital resources our primary uses of cash are for operational expenditures , capital investments , inventory purchases , store remodeling , store fixtures and ongoing infrastructure improvements such as technology enhancements and distribution capabilities . historically , our main sources of liquidity have been cash flows from operations . the significant components of our working capital are inventory and liquid assets such as cash , cash equivalents , current marketable securities and receivables , reduced by accounts payable and accrued expenses . our working capital position benefits from the fact that we generally collect cash from sales to customers the same day or within several days of the related sale , while we typically have longer payment terms with our vendors . at january 28 , 2012 and january 29 , 2011 , cash , cash equivalents and current marketable securities were $ 172.8 million and $ 128.8 million . working capital , the excess of current assets over current liabilities , was $ 197.9 million at the end of fiscal 2011 , up 27.4 % from $ 155.4 million at the end of fiscal 2010. the increase in 36 cash , cash equivalents and current marketable securities and working capital in fiscal 2011 were due primarily to the increased cash flow

sources of liquidity our most significant sources of liquidity continue to be funds generated by operating activities , available cash , cash equivalents and current marketable securities . we expect these sources of liquidity and available borrowings under our revolving credit facility will be sufficient to meet our foreseeable cash requirements for 37 operations and planned capital expenditures for at least the next twelve months . beyond this time frame , if cash flows from operations and borrowings under our revolving credit facility are not sufficient to meet our capital requirements , then we will be required to obtain additional equity or debt financing in the future . however , there can be no assurance that equity or debt financing will be available to us when we need it or , if available , that the terms will be satisfactory to us and not dilutive to our then-current shareholders . on august 29 , 2011 , we renewed and amended our secured credit agreement with wells fargo bank , n.a. , and the prior facility agreement was terminated . the credit agreement provides us with a secured revolving credit facility until september 1 , 2013 of up to $ 25.0 million , which , pursuant to an accordion feature , may be increased to $ 35.0 million at our discretion . the secured revolving credit facility provides for the issuance of standby letter of credits in an amount not to exceed $ 5.0 million outstanding at any time and with a term not to exceed 365 days . the commercial line of credit provides for the issuance of commercial letter of credits in an amount not to exceed $ 10.0 million and with terms not to exceed 120 days . the amount of borrowings available at any time under our secured revolving credit facility is reduced by the amount of standby and commercial letters of credit outstanding at that time .


 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.
     ```sources of liquidity our most significant sources of liquidity continue to be funds generated by operating activities , available cash , cash equivalents and current marketable securities . we expect these sources of liquidity and available borrowings under our revolving credit facility will be sufficient to meet our foreseeable cash requirements for 37 operations and planned capital expenditures for at least the next twelve months . beyond this time frame , if cash flows from operations and borrowings under our revolving credit facility are not sufficient to meet our capital requirements , then we will be required to obtain additional equity or debt financing in the future . however , there can be no assurance that equity or debt financing will be available to us when we need it or , if available , that the terms will be satisfactory to us and not dilutive to our then-current shareholders . on august 29 , 2011 , we renewed and amended our secured credit agreement with wells fargo bank , n.a. , and the prior facility agreement was terminated . the credit agreement provides us with a secured revolving credit facility until september 1 , 2013 of up to $ 25.0 million , which , pursuant to an accordion feature , may be increased to $ 35.0 million at our discretion . the secured revolving credit facility provides for the issuance of standby letter of credits in an amount not to exceed $ 5.0 million outstanding at any time and with a term not to exceed 365 days . the commercial line of credit provides for the issuance of commercial letter of credits in an amount not to exceed $ 10.0 million and with terms not to exceed 120 days . the amount of borrowings available at any time under our secured revolving credit facility is reduced by the amount of standby and commercial letters of credit outstanding at that time .
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 Suspicious Activity Report : we will make further investments in people and infrastructure in fiscal 2012 , building on the progress we have made through fiscal 2011 , primarily focused on the development of our omni-channel sales strategies , continued progress on our product assortment planning and supply chain solutions , the move of our ecommerce fulfillment center to edwardsville , kansas , and a capital investment related to building a new home office planned to open in the second quarter of fiscal 2012. we anticipate inventory levels per square foot to grow slightly . we expect our cash , short-term investments and working capital to increase , and do not anticipate any borrowings on our credit facility . general net sales constitute gross sales net of actual and estimated returns and deductions for promotions . net sales include our in-store sales and our ecommerce sales , which includes ecommerce shipping revenue . ecommerce sales were 7.3 % , 4.7 % and 2.5 % of total net sales for fiscal 2011 , 2010 and 2009. sales of gift cards are deferred and recognized when gift cards are redeemed . the amount of the gift card liability is determined taking into account our estimate of the portion of gift cards that will not be redeemed or recovered ( gift card breakage ) . gift card breakage is recognized as revenue after 24 months , at which time the likelihood of redemption is considered remote based on our historical redemption data . we report comparable store sales based on net sales beginning on the first anniversary of the first day of operation of a new store . our comparable store sales also include our ecommerce sales , due to the substantial integration of our stores and ecommerce business . changes in our comparable store sales between two periods are based on net sales of stores which were in operation during both of the two periods being compared and , if a store is included in the calculation of comparable store sales for only a portion of one of the two periods being compared , then that store is included in the calculation for only the comparable portion of the other period . any change in square footage of an existing comparable store , including remodels and relocations , does not eliminate that store from inclusion in the calculation of comparable store sales . there may be variations in the way in which some of our competitors and other apparel retailers calculate comparable or same store sales . as a result , data herein regarding our comparable store sales may not be comparable to similar data made available by our competitors or other retailers . cost of goods sold consists of branded merchandise costs and our private label merchandise costs including design , sourcing , importing and inbound freight costs . our cost of goods sold also includes shrinkage and buying , occupancy , distribution and warehousing costs . this may not be comparable to the way in which our competitors or other retailers compute their cost of goods sold . we receive cash consideration from vendors , which have been reported as a reduction cost of goods sold if the inventory has sold , as a reduction of the carrying value of the 29 inventory if the inventory is still on hand , or a reduction of selling , general and administrative expense if the amounts are reimbursements of specific , incremental and identifiable costs of selling the vendors ' products . with respect to the freight component of our ecommerce sales , we arrange and pay the freight for our customers and bill them for this service , unless our customers have their product shipped to one of our stores or we have free shipping promotions to our customers , in which case we do not bill our customers . such amounts billed are included in net sales and the related freight cost is charged to cost of goods sold . selling , general and administrative expenses consist primarily of store personnel wages and benefits , administrative staff and infrastructure expenses , outbound freight , store supplies , depreciation on fixed assets at our home office and stores , facility expenses and training , advertising and marketing costs . credit card fees , insurance , public company expenses , legal expenses and other miscellaneous operating costs are also included in selling , general and administrative expenses . this may not be comparable to the way in which our competitors or other retailers compute their selling , general and administrative expenses . key performance indicators our management evaluates the following items , which we consider key performance indicators , in assessing our performance : comparable store sales . as previously described in detail under the caption general ,  comparable store sales provide a measure of sales growth for stores open at least one year over the comparable prior year period . we consider comparable store sales to be an important indicator of our current performance . comparable store sales results are important to achieve leveraging of our costs , including store payroll and store occupancy . comparable store sales also have a direct impact on our total net sales , cash and working capital . gross profit . gross profit measures whether we are optimizing the price and inventory levels of our merchandise . gross profit is the difference between net sales and cost of goods sold . any inability to obtain acceptable levels of initial markups or any significant increase in our use of markdowns could have an adverse effect on our gross profit and results of operations . operating profit . we view operating profit as a key indicator of our success . the key drivers of operating profit are comparable store sales , gross profit , our ability to control selling , general and administrative expenses and our level of capital expenditures affecting depreciation expense . store productivity . story_separator_special_tag sg & a expenses as a percent of sales decreased by 240 basis points for fiscal 2010 to 27.2 % compared to 29.6 % for fiscal 2009. the primary contributors to this decrease were 110 basis points due to store operating expense efficiencies gained by growing expenses at a slower rate than sales growth , the effect of the change in accounting estimate for the depreciable lives of our leasehold improvements of 90 basis points ( as further explained in note 2 in our notes to consolidated financial statements ) , 60 basis points due to impairment charges of $ 2.5 million on 21 stores in fiscal 2009 and a 30 basis points impact of a litigation settlement charge of $ 1.3 million incurred fiscal 2009 , partially offset by a 40 basis points impact of a litigation settlement charge of $ 2.1 million incurred in fiscal 2010. exit or disposal activities on march 2 , 2010 , we acquired a 168,450 square foot building in corona , california for $ 11.8 million and we have relocated our distribution facility from everett , washington to this facility . we believe that we will be more effective distributing our products through a distribution center located in corona , california due to the majority of our vendors being located in southern california . cumulatively , during fiscal 2010 , we recorded $ 0.9 million of employee benefit costs ( severance and performance bonuses ) , $ 0.6 million of lease termination costs , $ 0.3 million of loss on disposal of long-lived assets and $ 0.8 million of other costs to exit the facility , partially offset by a $ 0.2 million benefit for the related deferred rent liability . these amounts are included in cost of goods sold in our consolidated statements of operations . net income net income for fiscal 2010 was $ 24.2 million , or $ 0.79 per diluted share , compared with net income of $ 9.1 million , or $ 0.30 per diluted share , for fiscal 2009. our effective income tax rate for fiscal 2010 was 37.7 % compared to 34.8 % for fiscal 2009. seasonality and quarterly results as is the case with many retailers of apparel and related merchandise , our business is subject to seasonal influences . as a result , we have historically experienced , and expect to continue to experience , seasonal and quarterly fluctuations in our net sales and operating results . our net sales and operating results are typically lower in the first and second fiscal quarters of our fiscal year , while the back-to-school and winter holiday periods in our third and fourth fiscal quarters historically have accounted for the largest percentage of our annual net sales . quarterly results of operations may also fluctuate significantly as a result of a variety of factors , including the timing of store openings and the relative proportion of our new stores to mature stores , fashion trends and changes in consumer preferences , calendar shifts of holiday or seasonal periods , changes in merchandise mix , timing of promotional events , general economic conditions , competition and weather conditions . the following table sets forth selected unaudited quarterly consolidated statements of operations data for the last two recent fiscal years . the unaudited quarterly information has been prepared on a basis consistent with the audited consolidated financial statements included elsewhere herein and includes all adjustments that we 35 consider necessary for a fair presentation of the information shown . this information should be read in conjunction with our audited consolidated financial statements and the notes thereto . the operating results for any fiscal quarter are not indicative of the operating results for a full fiscal year or for any future period and there can be no assurance that any trend reflected in such results will continue in the future . replace_table_token_11_th ( 1 ) all quarters in fiscal year ended january 28 , 2012 are 13 week periods ended april 30 , 2011 , july 30 , 2011 , october 29 , 2011 and january 28 , 2012 . ( 2 ) all quarters in fiscal year ended january 29 , 2011 are 13 week periods ended may 1 , 2010 , july 31 , 2010 , october 30 , 2011 and january 29 , 2011 . ( 3 ) gross profit for the first , second and third quarters of the fiscal year ended january 28 , 2012 and all quarters for the fiscal year ended january 29 , 2011 have been revised to account for the reclassification of certain expenses from selling , general and administrative expenses to cost of goods sold . liquidity and capital resources our primary uses of cash are for operational expenditures , capital investments , inventory purchases , store remodeling , store fixtures and ongoing infrastructure improvements such as technology enhancements and distribution capabilities . historically , our main sources of liquidity have been cash flows from operations . the significant components of our working capital are inventory and liquid assets such as cash , cash equivalents , current marketable securities and receivables , reduced by accounts payable and accrued expenses . our working capital position benefits from the fact that we generally collect cash from sales to customers the same day or within several days of the related sale , while we typically have longer payment terms with our vendors . at january 28 , 2012 and january 29 , 2011 , cash , cash equivalents and current marketable securities were $ 172.8 million and $ 128.8 million . working capital , the excess of current assets over current liabilities , was $ 197.9 million at the end of fiscal 2011 , up 27.4 % from $ 155.4 million at the end of fiscal 2010. the increase in 36 cash , cash equivalents and current marketable securities and working capital in fiscal 2011 were due primarily to the increased cash flow

