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CLARIFICATION

In reference to an article in the April issue (“Next Stop America? — Mango mulls stores in New York, Chicago and San Francisco”), the editors would like to clarify that a quote by an executive of Mango, the Spanish retailer, reflected his opinion that Benetton’s U.S. retail strategy had been unsuccessful. SCT apologizes for any misunderstanding regarding this quote and acknowledges that, to its knowledge, neither Benetton nor any company in the Benetton Group has ever sought bankruptcy protection or faced financial difficulties. Italy-based Benetton is a public company that trades on the New York Stock Exchange and operates 120 Benetton shops in the United States.