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Lululemon stokes demand by keeping inventory scarce and setting up stores so employees can eavesdrop on shoppers, Dana Mattioli reports on the News Hub. Photo: Getty Images.
Lululemon Athletica Inc., LULU -0.08% lululemon athletica inc. U.S.: Nasdaq $39.97 -0.03 -0.08% Aug. 21, 2014 12:50 pm Volume (Delayed 15m) : 632,642 P/E Ratio 23.09 Market Cap $5.82 Billion Dividend Yield N/A Rev. per Employee $213,858 08/20/14 Yoga Poseurs: Athletic Gear So... 08/09/14 Stocks Rally, End Week Higher 08/07/14 Lululemon Pops as Founder Dump... More quote details and news » the apparel chain with a tech start-up's valuation, as expected told investors its sales grew strongly for the 12th consecutive quarter.
The mystery is how the chain has managed to turn yoga gear into a miniempire, notching a market value of $10.4 billion with sales of just $712 million last year, and whether it can sustain the pace. After all, in the prior quarter, it booked a record $1,800 in sales per square foot—more than three times luxury kingpin Neiman Marcus's sales for its most recent full year.
In a series of interviews, Lululemon's executives explained the chain's strategy for stoking demand for Wunder Under pants, Scuba hoodies and racerback tanks. Unlike most retailers, Lululemon doesn't use software to gather customer data, doesn't build lots of new stores, doesn't offer generous discounts and purposely stocks less inventory than it can keep on its shelves.
Instead, the Vancouver company stays in close contact with its customers and cultivates a sense of scarcity, and during a time when most retailers have used discounting to drive sales, it uses pricing power to its advantage to keep items flying off the shelves.
The moves are largely the idea of Chief Executive Christine Day, who took the top job in June 2008, and so far they have paid off.
Over the past three years, the company has posted nine quarters in which sales rose 30% or more from the year before. And its stock has doubled in the last 12 months, giving it a higher market value than much bigger J.C. Penney Co. JCP -1.65% J.C. Penney Co. Inc. U.S.: NYSE $10.16 -0.17 -1.65% Aug. 21, 2014 12:50 pm Volume (Delayed 15m) : 14.33M P/E Ratio N/A Market Cap $3.15 Billion Dividend Yield N/A Rev. per Employee $103,940 08/15/14 U.S. Stocks Finish Rocky Sessi... 08/15/14 Stocks to Watch: Gilead, Dilla... 08/14/14 Penney Rebound Gains Traction More quote details and news »
On Thursday, Lululemon said posted a fourth-quarter profit of $73.5 million or 51 cents a share, up 34% from $54.8 million, or 38 cents a year earlier. Revenue for the quarter jumped 51% to $371.5 million.
Now Ms. Day needs to show she can keep the company's rapid growth going. In its report Thursday, Lululemon said it hit $1 billion in revenue for the fiscal year ended Jan. 29 and said it expects to top that in its current fiscal year with revenue in the range of $1.3 billion to $1.325 billion. For the current fiscal year, the retailer forecast earnings at $1.50-$1.57 a share. Lululemon shares were down about 1% in Thursday morning trading, with some disappointment in the outlook.
"I think across the board it's going to slow—earnings, revenue and margins—just because of how fast and how quickly this brand has grown," says Brian Sozzi, chief equities analyst for NBG Inc., an independent research firm in New York. "The law of large numbers eventually catches up to these retailers."
Snowboard and surfing retailer Dennis "Chip" Wilson founded Lululemon after his first yoga class in 1998. Lulu's first store opened in 2000, and the company went public in 2007. Mr. Wilson is still the chairman.
In its most recent quarter, sales growth at stores open at least a year softened—to 16% from 29% a year earlier—but was well above industry norms. Margins also slipped because of higher product costs. Some say the company is overvalued, but others note it still has options like international expansion that could be a source of more growth.
Lululemon, which sells yoga gear, had sales of $712 million last year. A New York store shown here. Rob Bennett for The Wall Street Journal
"When you see a price to earnings of 48 times earnings, it obviously seems much higher than a number of other retailers," says Jaime Katz, an analyst at Morningstar. "But the growth opportunities are better," she says. Other better-known retailers like Limited Brands, Gap Inc. and Aeropostale Inc. are trading at less than half the price to earnings ratio of Lulu.
When it comes to making decisions, Lulu has gone back to basics. It doesn't use focus groups, website visits or the industry staple—customer-relationship management software, which tracks purchases.
Instead, Ms. Day spends hours each week in Lulu stores observing how customers shop, listening to their complaints, and then using the feedback to tweak product and stores. "Big data gives you a false sense of security," says Ms. Day, who spent 20 years at Starbucks Corp. SBUX -0.47% Starbucks Corp. U.S.: Nasdaq $77.66 -0.37 -0.47% Aug. 21, 2014 12:50 pm Volume (Delayed 15m) : 1.08M P/E Ratio 238.15 Market Cap $58.68 Billion Dividend Yield 1.34% Rev. per Employee $88,236 08/17/14 Open-Carry Fight Is Set to Hit... 08/15/14 Voices: Rachele Bouchand, on W... 08/12/14 Can 'World of Warcraft' Game S... More quote details and news » , overseeing retail operations in North America and around the world.
On a December store visit in Whistler, British Columbia, Ms. Day noticed that women trying on a certain knit sweater found the sleeves too tight. After asking store associates if they had heard similar complaints, she canceled future orders.
Lulu also trains its workers to eavesdrop, placing the clothes-folding tables on the sales floor near the fitting rooms rather than in a back room so that workers can overhear complaints. Nearby, a large chalkboard lets customers write suggestions or complaints that are sent back to headquarters.
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While a large part of Lulu's strategy is getting the product right, an equally important part is keeping it scarce. The goal is to sell gear at full price and to condition customers to buy when they see an item rather than wait. "Our guest knows that there's a limited supply, and it creates these fanatical shoppers," says Ms. Day.
New colors and seasonal items get three, six or 12-week life cycles so stores feel fresher. Sheree Waterson, Lulu's chief product officer, says a hot-pink color named "Paris Pink" that launched in December was supposed to have a two-month life cycle but sold out its first week.
The strategy has sparked some concern on Wall Street. Conference calls with analysts often center on Lulu's inability to stock enough items.
In the most recent quarter, the company made logistical changes so it loses fewer sales from products being out of stock. For instance, it has focused on getting core products that don't change from season to season, such as black yoga pants, into its stores, while keeping limited-time items scarce.
Lulu also sells 95% of its gear at full price, says Chief Financial Officer John Currie. Its pants range from $78 to $128, while lower-priced competitors like VF Corp.'s VFC +0.17% VF Corp. U.S.: NYSE $63.53 +0.11 +0.17% Aug. 21, 2014 12:49 pm Volume (Delayed 15m) : 565,159 P/E Ratio 22.04 Market Cap $27.34 Billion Dividend Yield 1.65% Rev. per Employee $199,269 07/18/14 Morning MoneyBeat: Why the Mar... 07/18/14 VF Profit Climbs As Outdoor an... More quote details and news » Lucy brand and Gap Inc. GPS -0.27% Gap Inc. U.S.: NYSE $43.00 -0.12 -0.27% Aug. 21, 2014 12:50 pm Volume (Delayed 15m) : 2.37M P/E Ratio 16.23 Market Cap $19.00 Billion Dividend Yield 2.05% Rev. per Employee $118,197 08/20/14 Yoga Poseurs: Athletic Gear So... 08/17/14 AHEAD OF THE TAPE: Urban Outfi... 08/13/14 Cisco CEO Says Company 'Embrac... More quote details and news » 's Athleta each have yoga pants on sale on their websites in the $25 to $50 range.
The company never puts its core items on sale, and it has a very strict return policy: no products accepted after 14 days, and all must be unwashed and unworn, with original tags.
"We aren't Nordstrom," Ms. Day says. "We aren't your personal shopper."
Write to Dana Mattioli at firstname.lastname@example.com


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So, just how long or better yet......when or how can I tell if the walnut media needs to be changed or can I keep on using it indefinitely? I am using the same media since I started reloading....with a 12 year hiatus.....so it is probably two or three years old and has cleaned several thousand cases. How do you all despose of the old stuff?
Ret. USAF MSgt
NRA Life Member

subset: commoncrawl


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iPads have air gaps that can cause eye strain.
I returned my iPad mini because I was experiencing eye strain when reading off of it. I later found out that it was caused by the air gap between the lcd and glass. The 4th gen iPad also has this gap. Basically, when you look at an iPad, you're seeing two slightly different images. This makes it hard for your eyes to focus.
If you want to feel the difference, just read off a glossy display without an air gap and compare it to reading off of an iPad. You can tell if there's an air gap by turning off the display and looking at the reflection. If you see two slightly different reflections creating a blur, that means there's an air gap. If there's one clear reflection, that means there isn't.
Don't buy an iPad until Apple uses a laminated display on them. An air gap isn't something you should have to put up with, especially for what they're charging. Even the Nook HDs, Kindle Fires, and Nexus 7 all have laminated displays.


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- Domestic passengers: 1 hour 30 minutes prior to scheduled flight departure time.
- International passengers: 2 hours prior to scheduled flight departure time.
Travel Documents
Dear Passenger we recommend you to prepare in advance and carry the following documents required for travel at all times.
Domestic travel: Passenger 16 years and over are required to carry their valid ID, passport or copies of aforementioned documents approved by a notary. Passengers under 16 years of age should carry their birth certificate.
International travel: a valid passport and visa are required for travel on international flights.
Please note that the airline reserves the right to deny transportation in case of improper documentation. Documents other than mentioned above such as driving license and social/health insurance documents are not allowed for travel.


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PMI Labs will be closed on September 1st - Labour Day
About PMI Labs & Perceptronix Medical Inc.
We are dedicated to provide fast turn-around anatomic pathology service to physicians, dentists and caregivers. We have specialized expertise in quantitative cytology, oncologic pathology, cytopathology, oral pathology and pathology consultation. In addition, we support clinical and translational research.
With an exceptional group of highly experienced and specialized pathologists, we are dedictated to being your partner for better patient care. Call 1-888-629-8779 for more details.
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- ODA, OSU announce Agricultural Fertilizer Certification Training PDF
August 28, 2014 from Department of Agriculture
- Nine companies expected to invest $1.1 billion, impacting 1,787 jobs PDF
August 25, 2014 from Governor's Office
- Grant
supports business growth in Darke County PDF
August 20, 2014 from Development Services Agency
- news archive
Watch the welcome video
NOTICE: Employer withholding tables – revised beginning July 1, 2014
The new tables take into consideration the income tax rate reductions that went into effect when House Bill 483 was recently signed into law. The 1% reduction previously scheduled to go into effect on January 1, 2015 is now in effect for 2014. Accordingly, the tables reflect a 1% reduction in the withholding rates that were previously in effect on September 1, 2013. This reduction is to conform with the 10% decrease in individual income tax rates from those that were in effect for taxable year 2012. The new tables are to be used for the remainder of the 2014 calendar year and for all of 2015.
Please visit the Department of Taxation's employer withholding page for more information.
NOTICE: State sales tax rate increases from 5.5% to 5.75% effective September 1, 2013
The state sales tax rate on the storage, use or other consumption of tangible personal property or services and retail sales made on or after September 1, 2013 is 5.75%. Please note that all local Ohio jurisdictions impose a local sales and use tax in addition to the state rate. The Ohio Department of Taxation provides a database of sales and use tax rates called The Finder, which can be queried either by address or by ZIP code.
Please visit the Department of Taxation's rates and changes page for more information.


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Pregnant mum who used 7-year-old child as drug runner is allowed to walk free from court
CASSIE Leaver put a wrap of cannabis in the pyjama-clad child's pocket and told the primary school pupil to pass it to her mother.
All the latest news, views, sport and pictures from Perthshire. We bring you the best coverage of local stories and events from the Perthshire Advertiser, Blairgowrie Advertiser and Strathearn Herald newspapers, plus Perthshire content from the Daily Record, Sunday Mail and our digital team seven days a week.


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Fashion Rocks the Runway at Pavilion Friday Night
Event will feature denim from Rock & Republic
Charlotte, NC (August 24, 2010) – This Friday night, August 27, at 8 p.m., Pavilion at EpiCentre is being transformed into a high-fashion hub as Revolution presents Rock the Republic, the most anticipated fashion event of the year, benefiting Project Go.
Rock the Republic will feature styles from Rock & Republic, the world's most popular denim brand, and its edgy approach to fashion. The event will blend fashion with popular 80s rock music mixed with a modern twist by the popular DJ FIVE, resident DJ at both Tao and LAVO on the Las Vegas strip.
Tickets are available at Suite and Revolution inside EpiCentre, 210 East Trade Street in uptown Charlotte. VIP tickets are $20 and include premium runway seating. General admission tickets are $10. For additional ticket information, contact Shahn Sawary at 704-654-1416 or firstname.lastname@example.com. VIP Cabanas are available for $350 and include one bottle of your choice, one bottle of champagne and a gift bag valued at $500. Additional information about VIP Cabanas is available by contacting Shane McKee at 704-526-5845 or firstname.lastname@example.com. Rock the Republic is a 21-and-up event
A portion of the proceeds from Rock the Republic will benefit Project Go. Project Go is a non-profit humanitarian aid organization which brings relief and education to some of the poorest and most remote civilizations in the world. Additional information about Project Go is available at www.ProjectGoWorld.com, facebook.com/projectgoworld or by following them at twitter.com/projectgoworld.
Rock the Republic is sponsored in part by Revolution, myuptownfun.com, 704Events, Relish Charlotte, The CUT, GirlsNightOut and Social Flockers. Tickets to Rock the Republic also include free admission to the official Rock the Republic After Party place immediately following the event at Suite, where show attendees can flaunt their own fashion-forward attire.
Pavilion at EpiCentre is Charlotte's premier rooftop special event venue, located in the heart of uptown. With its breathtaking views, contemporary design and sophisticated Penthouse bar and lounge, Pavilion at EpiCentre redefines urban, upscale events. Flexible floor plans, the fully equipped Bud Light Sound Stage and unbeatable amenities combine to accommodate limitless creativity in event design for groups of any size.
For additional information, log on to www.pavilionatepicentre.com or follow Pavilion on Twitter at twitter.com/pavilionrocks.
Contact: Sammy Eanes, Full House Productions, 540-525-0864, firstname.lastname@example.com
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Canadian scientists identify sun's 'coronal hole' as culprit in 1994 Anik satellite failures
Just weeks after Canada celebrated the 50th anniversary of its emergence as a space-age nation with the September 1962 launch of the Alouette satellite, a team of Canadian researchers has solved a longstanding mystery about one of the most disastrous episodes in that half-century of history: the same-day failure of Telesat's Anik-E1 and Anik-E2 satellites after an intense "space storm" in January 1994.
After probing archived images of the sun from just before the incident and re-examining the events surrounding the high-profile shutdown of the two satellites — which garnered headlines around the world at the time, and may have cost Telesat as much as $70 million by some estimates — Natural Resources Canada researcher Hing-Lan Lam and three colleagues have identified a huge "coronal hole" that developed in the sun's energy field, allowing high-speed "solar winds" to stream relentlessly for several days from our fiery star towards Earth and its orbiting Canadian spacecraft.
The sleuthing scientists, whose findings in the cosmic cold case have been published in the latest issue of the journal Space Weather, have even provided smoking-sun proof of what caused the costly satellite outage — a caught-in-the-act photograph in which the sun's corona is shown with a huge swath of blackness representing the moment when the disastrous chain of events was set in motion.
As Lam and his co-authors explain in their study, the sudden failure of Anik-E1 on Jan. 20, 1994, knocked some Canadian television broadcasters off the air, disrupted telephone service in many northern communities and even left the Canadian Press wire service unable to deliver news to media clients across the country.
Although Anik-E1's uncontrolled spin was stopped after several hours and put back into operation, the satellite crisis deepened when Telesat's other key communications spacecraft — Anik E2 — also lost "Earth lock" and went into an uncontrolled spin. Its failure meant "virtually all of Canada's television broadcast traffic" was knocked out, with programming on CBC, TSN, MuchMusic and other channels suddenly halted.
After about three days, service was fully restored when Telesat arranged to transfer its clients' blacked-out signals to U.S. satellites — just one of several costs absorbed by the company, then a recently-privatized Crown corporation, as it scrambled to recover from the incident.
To correct Anik-E2's erratic motion, Telesat engineers spent months constructing a Canada-wide system of ground stations that were able to send attitude-control signals to the satellite and — by August 1994 — get the craft fully operational.
However, the cost of the original service disruption, subsequent repair solutions and lost business was pegged at between $50 million and $70 million according to a 2009 study.
When the crisis flared in early 1994, Telesat officials explained that a magnetic storm of unprecedented strength, caused by sudden streams of energy from the sun, had been responsible for the disruption of the satellites.
Now, Lam and his team have traced the event back to the formation of the coronal hole in early January, a feature seen in images captured at the time by the Japanese Yohkoh Soft X-ray Telescope.
Distinguishing coronal holes from "solar eruptions" or "solar flares" that were initially identified as culprits in the Anik failures, Lam told Postmedia News that the hole phenomena are "stable features that rotate with the sun. However, high-speed solar wind streams continuously emanate from the 'hole,' so if the hole is large and wide as the case here, the magnetosphere – which is the magnetic shield protecting the Earth – will be hit by the high-speed 'winds' for many days – at least seven days in this case."
Lam described how the relentless stream of solar winds created a large "swarm of energetic electrons" that were ultimately "more than the satellites' shielding could withstand, and a charge built up inside the satellite."
He added: "The discharge of this built up internal charge, triggered by natural electromagnetic transients, damaged a component of the satellites' momentum wheels, causing the satellites to spin out of control."
Lam, who authored the paper with three current or former Telesat scientists, said reconstructing the precise cause of the 1994 incident is important because it may help satellite companies and space agencies better understand the threats posed by the sun's energy emissions.
"It is important for satellite operators to monitor the real-time electron environment," Lam said, adding that "should situations warrant," satellite operators "should reschedule important maneuvers, or go into a heightened state of alert by putting a team ready to respond instantly to problems and prepare for recovery for an impending dire situation."
He added that anticipating the threat caused by a coronal hole in the future could allow operators to "delay dispatching commands to the satellite to avoid triggering a possible discharge."


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Girl carrying water, 1856
Jean-François Millet (1814-1875)
A peasant woman carries two buckets of water from the well to her house. Millet also painted a canvas of this scene that is more than a metre high. It was a characteristic of Realism to present such a simple subject on this large scale. Realist painters such as Jean-François Millet, Gustave Courbet and Jules Breton depicted the daily life of the agricultural labourer. They focused on small, insignificant details in the landscape and portrayed poor peasants in an almost heroic style.
Millet belongs to the Barbizon School, a group of painters who chiefly painted landscapes. However, he was the only one of the group whose main preoccupation was the depiction of people.


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AB6369 from Hanover. This particular 737 don´t have winglets yet.
Arrived as flight AY807 from Helsinki
73G looks elegant in Air Berlin Livery. Arrived as flight AB8969 from Bari
Taxiing to the Gates after arrival from Paris CDG AF2322
Delivered to CSA on May 19 2004. My first CSA.. I like the new colors!
Wonderful livery for this Turkish Airline. Arriving from Antalya!
Push back complete almost ready to start Taxiing, Oparating flight LH2016 to Dusseldorf
Nice to see this Airline, Nice Scheme, operating flight 4U4067 to Dortmund.


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Houzz is the new way to design your home.
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Jonathan Bartlett, ODU Alumnus and Wounded Vet in HBO Film, Dies
Jonathan Bartlett, an Old Dominion University alumnus and Iraq war veteran passed away on April 17 at the age of 27. He served in Iraq as an Army infantryman and lost both of his legs as a result of an improvised explosive device attack in 2004. His experiences as a double amputee home from the war were documented in an HBO television documentary and numerous articles in The Virginian-Pilot newspaper.
After returning home from Iraq and undergoing extensive rehabilitation, Bartlett enrolled at ODU and earned a bachelor's degree in business administration-management in 2010. After graduating, he took a position in human resources at Naval Air Station Norfolk.
Bartlett was interred at the Albert G. Horton Jr. Memorial Veterans Cemetery in Suffolk on April 21. His family has asked that those who wish to honor his memory make a donation in his name to the Wounded Warrior Project.
This article was posted on: April 23, 2012
Old Dominion University
Office of University Relations
Room 100 Koch Hall Norfolk, Virginia 23529-0018
Telephone: 757-683-3114
Old Dominion University is an equal opportunity, affirmative action institution.


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New Oberto/Miss Madison driver Jimmy Shane spent Saturday in the team's boat shop in downtown Madison getting fitted for the cockpit and acclimating himself to his new surroundings. The 2013 H1 Unlimited Series High Point Driving Champion was hired during the off-season to succeed longtime fan favorite Steve David who retired at the end of last year's campaign.
Kentucky Speedway
SPARTA, Ky. - When NASCAR Sprint Cup Series driver Brian Vickers learned Kentucky Speedway's 1.5-mile tri-oval is being billed as the roughest track on the circuit, he quickly replied with an affirmative, "mission accomplished. It's extremely rough, extraordinarily rough."
By DAVE TAYLOR
The Trimble Banner
The 2014 H1 Unlimited Hydroplane racing season gets underway in two weeks. Hydro enthusiasts from all over the country will descend on the local area for the Madison Regatta, featuring the Indiana Governor's Cup Race, over the July 4 weekend.
Volunteers with Madison Regatta, Inc., hope for outstanding weather and river levels for this year's event after high water cancelled the racing activities a year ago.
By KEVIN KELLY
Kentucky Afield Magazine
FRANKFORT, Ky. – The weather can be erratic and water levels can fluctuate wildly, but spring brings with it some of the best muskellunge fishing of the year.
Anglers looking to tangle with a big muskie are fortunate to have an abundance of options in Kentucky – from Cave Run, Buckhorn and Green River lakes and their tailwaters to native muskie streams like the Licking River along with Tygarts and Kinniconick creeks.
Not having a boat doesn't mean you have to sit idly during this active time.
Staff Report
After rumors flew for several months, the Miss Madison Racing Team announced last week that Jimmy Shane, the 2013 H1 Unlimited Driver Champion, will be piloting the Oberto Unlimited hydroplane in 2014. Shane raced his first full season in the Unlimited series in 2012. He has quickly become the sport's rising star with six race wins, including back-to-back U.I.M. World Championships.
Staff Report
By LEE McCLELLAN
Kentucky Afield magazine
FRANKFORT, Ky. – The cold, muddy water coursing through many rivers in Kentucky right now brings another round of dread in anglers. This situation seems depressing, but for anglers with level 10 cabin fever after this long, dark winter, it is good news.
When the rivers clear and stabilize, the sauger and walleye fishing will take off downstream of Green River Lake, Lake Cumberland, Kentucky Lake and Lake Barkley.
By DAVE TAYLOR
The Trimble Banner
Trimble County's junior varsity Lady Raiders defeated Gallatin County, 2 games to 0 in their opening road contest of the season on Aug. 20. Scores were 21-3 and 21-14.
Statistically, Kaylee Clifford was 11 of 11 serving with an ace, 3 kills and 3 blocks; Katie Gonterman was 2 of 3 serves with an ace, 7 kills and 3 blocks; Maranda Ward had 6 aces and 8 digs; Autumn Ames was 11 of 11 sets with 5digs; Cheyenne Riddle had 5 kills and a block.
By DAVE TAYLOR
The Trimble Banner
The Trimble County Lady Raiders opened the 2014 volleyball campaign on the road at Warsaw on Wednesday, Aug. 20, with a win over Gallatin County. Scores were 25-10, 25-18, 25-12.
"I was pleased to see great unselfish teamwork," said Trimble Coach Ruth Staples, "and very happy to have a season opening victory on the road!"
By RUTH STAPLES
Lady Raiders Varsity Coach
We have a great mixture of experience and young talent among this year's Lady Raiders volleyball team that should make this season exciting.
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