Venator group will fire 3700 workers, about a third of employee 358 underperforming, close feet dressing room, titles and north group company in the United States and Canada.
This round of belt - tightening is just the latest, the former Woolworth's process, in difficult times wear athletic - survival business.
The company through layoffs and closing shops since 1994, non - abandon support athletic - wear enterprises and return to.
Venator has close all Woolworth's and kinney shoe shop.
It also sold his accessories chain and Colorado shoes and clothing group.
This time, Venator the shutter around 9% of the remaining 4000 shop.
Including 123 foot wardrobe, a locker, lady child's foot stores; 27 championship stores; And 208 north fled and northern elements of stores.
The company's sales personnel said no New York city locations were targeted.
The plan now is to concentrate on the foot chain store content ark, is also the most profitable part of the company.
Management said the reorganization will take $53 million 1999 occupied fourth quarter profits.
Analysts said, chief executive Hilpert dell the reason for adjustment, and also noted that the pre-season movements, but they did not expect that they are significant.
Most of the cut applauded.
"We think this is a positive," said John across the first safety car kasper fourth quarter, has increased his earnings forecasts.
"They were all appropriate scale operation way bloated they now."
Even if channel partner of Alfred kinsley, a major shareholders, for a long time Venator criticism, called restructuring "a good move" and "right direction step of the way."
"The key is thin come down to the point where you can afford anything," he said.
Venator also announced that it would move its corporate offices out of the historic downtown Woolworth building, which it sold in 1998, and into Foot Locker's midtown headquarters.
Venator stock inched up on the news, gaining 12 cents to $6.50.
Hilpert said, in a statement, that Venator had completed its "repositioning" with its latest moves.
But analysts said he told them he was still cautious about the state of the athletic wear industry, which has suffered from a prolonged slump.
While the sneaker business seems to be recovering, sales of athletic apparel are still weak.
Teenagers have been favoring clothes from Abercrombie & Fitch and The Gap over athletic apparel for some time, and that trend shows no sign of slowing.
This round of belt - tightening is just the latest, the former Woolworth's process, in difficult times wear athletic - survival business.
The company through layoffs and closing shops since 1994, non - abandon support athletic - wear enterprises and return to.
Venator has close all Woolworth's and kinney shoe shop.
It also sold his accessories chain and Colorado shoes and clothing group.
This time, Venator the shutter around 9% of the remaining 4000 shop.
Including 123 foot wardrobe, a locker, lady child's foot stores; 27 championship stores; And 208 north fled and northern elements of stores.
The company's sales personnel said no New York city locations were targeted.
The plan now is to concentrate on the foot chain store content ark, is also the most profitable part of the company.
Management said the reorganization will take $53 million 1999 occupied fourth quarter profits.
Analysts said, chief executive Hilpert dell the reason for adjustment, and also noted that the pre-season movements, but they did not expect that they are significant.
Most of the cut applauded.
"We think this is a positive," said John across the first safety car kasper fourth quarter, has increased his earnings forecasts.
"They were all appropriate scale operation way bloated they now."
Even if channel partner of Alfred kinsley, a major shareholders, for a long time Venator criticism, called restructuring "a good move" and "right direction step of the way."
"The key is thin come down to the point where you can afford anything," he said.
Venator also announced that it would move its corporate offices out of the historic downtown Woolworth building, which it sold in 1998, and into Foot Locker's midtown headquarters.
Venator stock inched up on the news, gaining 12 cents to $6.50.
Hilpert said, in a statement, that Venator had completed its "repositioning" with its latest moves.
But analysts said he told them he was still cautious about the state of the athletic wear industry, which has suffered from a prolonged slump.
While the sneaker business seems to be recovering, sales of athletic apparel are still weak.
Teenagers have been favoring clothes from Abercrombie & Fitch and The Gap over athletic apparel for some time, and that trend shows no sign of slowing.
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