MESSAGE FROM THE CHAIRMAN

ONE STORE AT A TIME

When you work for a large Company, it sometimes helps to put things in perspective. Look around you, and you see your store, the team you are a part of, and the merchandise we offer to the customer. But there is a big story behind that snapshot. There was a time when this is all we were - just one store with a small team. Today, we are a major player on the Canadian retail stage, and you are now part of that story, and that success.

How did we do it? By building one store at a time. Over the years, we have taken everything we learned from each experience. We listened to people, promoted them, and helped them grow, and by doing so created something stronger than any of us could have done alone.

We opened Stitches in downtown Toronto in 1975, and that was the start of YM. Today, the Company has grown to include Urban Planet, Stitches, Urban Behavior, Sirens, Forever 21, Urban Kids, West 49, Amnesia, Bluenotes, Aeropostale, Thriftys, Suzy Shier, Le Chateau, Charlotte Russe, Mandee, and Rue 21. We have over 800 stores across North America that cover the entire young fashion market with great selection at the right price.

With each step and every challenge, we’ve gained knowledge and experience.

And now it is your turn. As the Company grows, these opportunities are there for anyone who wants them and is prepared to earn them. My vision is to continue the growth of the Company. Our Company will carry the best merchandise, at the best prices. And I firmly believe that by working together, we will achieve this vision.

Growth means everyone benefits. It puts us at the forefront of fashion retailing. It means that more opportunities for advancement become available. It opens the door to success, both corporately and personally. At the centre of my philosophy on running a business I believe in three key organization strengths, experience, integrity, and compassion. You absolutely need these three qualities to succeed. They are what define the character of a person and it’s all about people.

I want us to be known as the Employer of Choice in fashion retailing. But more than this, I want us to be known as an employer that offers quality of life to every one of you. Where anything is achievable. Where hard work, commitment, and dedication pay off. Where there are no barriers to your success.

We have come a long way. It has been a long journey, and we have accomplished more than we could ever have dreamed. The most exciting years still lie ahead in our future. We could not have done it without all of you and I look forward to seeing what future successes lie in store for us.

Thank you all.

Michael Gold, Chairman

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