From Gateway Inc.'s conference call last night (excerpt from the transcript); interim CEO Rick Snyder is answering questions from analysts:
Richard Gardner - Citigroup
John, was any of the degradation in retail margins due to a significant increase in price aggression in the marketplace?
We wouldn't characterize it that way. We have a model we use to price products to our retailing partners. We were quite happy with how we had priced our products to them at the beginning of the quarter. We just allowed some things to get away from us in a way that brought our eventual retail margins in at a level that was lower than what we would have hoped.
What do you make of that, then?