Home / Knowledge / News / DSW reduces field leadership workforce
DSW reduces field leadership workforce
06
Nov '08
DSW Inc reported net sales for the quarter ended November 1, 2008 increased 6.5% to $391.4 million compared with $367.4 million for the quarter ended November 3, 2007. Same store sales decreased 4.1% for the comparable period versus a decrease of 3.0% last year.

Net sales for the thirty-nine week year-to-date period ended November 1, 2008 increased 3.9% to $1.11 billion compared with $1.07 billion for the thirty-nine week year-to-date period ended November 3, 2007. Same store sales decreased 5.5% for the comparable thirty-nine week period versus a decrease of 0.5% last year.

Workforce and Expense Reduction
The company reduced its home office and field leadership workforce by 98 positions, or approximately 13%, which included 82 current positions and 16 vacant positions that will not be filled. The move was part of a plan to decrease its cost structure in light of the general economic decline and expectations for continued lower consumer spending into 2009. The company provided associates affected by the reduction with severance packages and job placement services.

The company intends to record a pre-tax charge of approximately $3 million in the fourth quarter of 2008 to recognize severance and other expenses related to the workforce reduction.

DSW Inc

Must ReadView All

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Apparel/Garments | On 28th Apr 2017

Deckers Brands starts review of strategic alternatives

Deckers Brands, a global leader in designing, marketing and...

Courtesy: Adidas

Apparel/Garments | On 28th Apr 2017

Adidas, Siemens initiate joint research programme

Adidas and Siemens are initiating a joint research programme for...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X