Home / Knowledge / News / Textiles / 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

Pic: Shutterstock

Apparel/Garments | On 6th Jul 2020

UK, Kenya agree to start post-Brexit trade negotiations

The UK and Kenya agreed to start talks on a post-Brexit trade pact in ...

Pic: ICAC

Textiles | On 6th Jul 2020

China to be largest importer of cotton lint in 2019-20

Despite a 12 per cent decrease from the previous season attributed to ...

Pic: Beyond Leather Materials,

Textiles | On 6th Jul 2020

Danish company generates €1.1 M for plant-based leather

Beyond Leather Materials, a company that produces plant based,...

Interviews View All

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Representatives, Textile & apparel industry

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Textile Industry, Head honchos

Textile Industry
Head honchos

Virtual reality would be the new normal

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Prakhar Singh,

Prakhar Singh

Morgan Tecnica offers the largest and most modern range of solutions for...

Zafer Demirel,

Zafer Demirel

Turkey's Canlar Mechatronics is a leading designer and manufacturer of...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

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

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

Leave your Comments


July 2020

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


Advanced Search