It doesn't change the dismal long-term picture because the company is continuing to shrink. Without recovering market share it won't have a turnaround.

In the near term, the news is positive. It shows the company is doing a better job of forecasting and managing expenses.

Today's announcement marks a change in how we will serve our customers and the start of a company-wide training programme equipping every colleague to improve the customer experience in store.

I even found a company that provided streaming video to sites operated by minors, on condition that its president be allowed to watch the pornographic performances for free.

The company has made no decision regarding a Chapter 11 filing.

None of the bigger advertisers want to spend money if you're a new company. But now that we're going on our fourth year they're willing to talk to us.