These reductions Toronto Raptors are expected to result inpre-tax savings

These reductions reports toronto raptors are expected air canada centre raptors devises to result inpre-tax savings of approximately $12 million per year beginning in fiscal year2009. Optimization of Store PortfolioThe store optimization component of the restructuring involves the closure ofapproximately 40 to 50 underperforming stores and the related non-cashimpairment of store assets in underperforming or closing stores. The Companyconducted a review of the performance of each of its stores in order to identifystores that do not demonstrate the potential to deliver an acceptable long-termreturn on investment. The Company plans to close stores that do not meet thisreturn on investment criteria in a staged approach over the next five years uponthe termination of the respective leases or upon the exercise of kickoutprovisions, and as a result, the Company does not presently anticipate that itwill incur significant lease exit costs associated with these decisions. TheCompany expects to record a non-cash charge of approximately $22 million relatedto asset impairments for underperforming stores in the fourth quarter of fiscalyear 2008.

In fiscal year 2008 these stores are estimated to achieve $60 to $70million in sales and are expected to generate negative four-wall profitcontribution toronto star raptors . The Company currently expects to close 10 to 15 of theseunderperforming stores in fiscal year 2009, with the remainder of the plannedstore closures occurring over fiscal years 2010 to 2013 basketball . The Company currentlyestimates that these efforts will result in annualized pre-tax savings of $4 to$6 million beginning in fiscal year 2009 bulls raptors Raptors . Broad Based Cost ReductionsThe Company has initiated a corporate-wide program to identify and implementstrategic and structural cost improvements across all aspects of the Company`sbusiness including store operations, sourcing, real estate, marketing, andgeneral home office operations buy raptor tickets Toronto Raptors .

These efforts include the optimization ofexternal resources, reduction of discretionary spending, consolidation ofcertain purchasing activities to leverage scale, and the renegotiation ofexisting agreements to achieve cost reductions utah jazz vs toronto raptors . The Company currently estimatesthat these efforts will result in annualized pre-tax savings of approximately$14 to $17 million per year beginning in fiscal year 2009 buy raptors tickets nba.com - raptors . Capital ExpendituresThe Company plans to limit new store openings over the next year and as aresult, expects capital expenditures to approximate $15 million, which is downby $35 million from its expected fiscal year 2008 capital expenditures buy toronto raptor tickets . SummaryIn total, the strategic restructuring and cost reduction program is anticipatedto result in pre-tax restructuring charges of approximately $25 million duringthe fourth quarter of fiscal year 2008, which includes approximately $22 millionin non-cash charges associated with the impairment of store assets and $3million in cash charges related primarily to severance and various other costsnecessary to implement the restructuring and cost reduction program canada raptors . The Companydoes not currently expect to record additional restructuring charges for thesematters in fiscal year 2009.

The Company expects to achieve pre-tax savings ofapproximately $175 million over the next five years, of which approximately $30million is expected to be realized in fiscal year 2009 Richard P toronto sun raptors . Crystal, New York & Company`s Chairman and CEO, stated: "These areunprecedented times in the retail industry and across many other industries andgeographic regions celtics raptors . The exceptionally challenging economic environment hasresulted in an extremely difficult year for many companies and New York &Company is not exempt from these difficulties chris bosh Raptors tickets - nba . These times require financialdiscipline, and our Company`s leadership team has given a great deal of thoughtas to how we can reduce existing expenses, enhance efficiencies, and focus onour strategic plans for the future chris bosh raptors . After completing a comprehensive review ofour entire business, we have proactively begun a restructuring and costreduction program to preserve profitability and maximize cash flow in the nearterm with our streamlining and efficiency enhancing initiatives positioning uswith an improved platform for growth, as the economy stabilizes and eventuallyimproves. While it is always a difficult decision to reduce headcount, webelieve our new organizational structure will allow us to optimize our fieldstaff while maintaining our customer service levels. We believe that thisrestructuring demonstrates our commitment to increasing long-term shareholdervalue Toronto Raptors tickets - nba ." Comparable Store SalesIn the fourth quarter-to-date period (November and December 2008), comparablestore sales declined by 10.1%.

As a result, the Company now expects fourthquarter 2008 comparable store sales to decline by approximately 10.0%, andexpects full fiscal year 2008 comparable store sales to be in the high negativesingle-digit range . OutlookAs previously disclosed, the company provided guidance for the fourth quarter offiscal year 2008, ranging from a high end of a loss of $0.05 per diluted shareto a low end of a loss of $0.20 per diluted share jose calderon . Based on quarter-to-dateresults, the Company currently expects the diluted loss per share for the fourthquarter and full fiscal year 2008 to be at the low end of its previously issuedguidance range knicks raptors raptors.com . This guidance excludes the charges expected to be incurredduring the fourth quarter of fiscal year 2008 in connection with the Company`sannounced restructuring and cost reduction program and also excludes ananticipated pre-tax one-time charge of approximately $1 Toronto Raptors - wikipedia .5 million to settle twoseparate class action lawsuits pending in the State of California . The netimpact of these one-time charges on loss per diluted share for both the fourthquarter and full fiscal year of 2008 is expected to be approximately $0.26 perdiluted share.

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For more information, please contact KarenBruck at For over fifty years, the MIT Sloan School of Management, based in Cambridge,Massachusetts, has been one of the world's leading academic sources ofinnovation in management theory and practice. GigaSpaces wasfounded in 2000 and has offices in the US, Europe and Asia.For more information, please visit http://, thecompany's open-source community portal or the company's blog at GeorgePage One PREmail Contact650.922.3825Copyright 2009, Market Wire, All rights reserved.-0-. Wall is that rare guard that notices and makes adjustments according to how the game is being played. But the blue and white UConn pride that was trampled on last week picked itself up on Saturday and didn?t even suffer a blemish. ) Saturday Oct. Two losses later, the Ravens are in danger of falling behind the Bengals and Steelers in the AFC North race.