Ryan Kelly

YM INC.

We have always been focused on fundamentals at the YM group of companies. We have built a structure of formats and facias that deliver brand segmentation and differentiation within our market. We have focused on the supply chain, and maximized efficiency in the way we acquire and manage physical assets. And by all of this, we have taken up our position as the leading value-driven apparel retailer in Canada. Value retailing has grown faster than any other major retail format in recent years, but this term has typically meant large stores with lower prices that attract more customers. For us, being value-driven means much more than that. It takes more than price. We are in the enviable position of being able to offer both a great in-store experience and leading-edge fashion apparel for each of our specific target markets, together with that magical price-value equation. This is what value-driven retailing means to us. Our in-store experience ensures that customers keep their ultimate connection with the brand through our people. Our merchandising and buying teams deliver the looks and fashions they want. And we do it all at a price the customer can afford. Value is created. It doesnt pre-exist and it doesnt happen by accident. It is the right combination of all the rules of retailing that creates both the perception and the reality that true value exists. This long-held focus on fundamentals has us well positioned to continue to succeed.