Lessons

a company can actually impair shareholder value in certain circumstances by growing earnings

Discerning investors don’t stop with the income statement.

Though negative reviews cost us some sales in the short term, helping customers make better purchase decisions ultimately pays off for the company.

We will continue to measure our programs and the effectiveness of our investments analytically, to jettison those that do not provide acceptable returns, and to step up our investment in those that work best. We will continue to learn from both our successes and our failures.