We recently completed a headcount reduction at our corporate headquarters, which we expect will generate approximately $1 million in annualized cost savings.
Further, we are encouraged by the sales increase in our River Park store, which demonstrates that our new store prototype and greater focus on soft goods are resonating with our customers.
We remain focused on implementing the initiatives of our Value Improvement Program and positioning the Company to fully realize the benefits of our efforts as broader economic trends begin to improve."
Earnings Teleconference and Webcast: Gottschalks will host a conference call at 1:30 p.m. Pacific Time to review its results for the first quarter fiscal 2008. To access the call, dial to listen to the call on the day of the event.
The Conference ID is GOTT. If you are unable to participate in the call, a replay will be made available through June 5, 2008.