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COLUMBUS, Ohio. - Discount shoe retailer DSW Inc. said Wednesday that it was cutting nearly 100 jobs as same-store sales fell during the third quarter.
| DSW | 11.12 |  -0.37 |
The company said it was laying off 82 employees in its headquarters and field leadership positions while not filling another 16 vacant slots. The job cuts will result in a $3 million pretax charge in the fourth quarter.
Same-stores sales fell 4.1 percent for the three months ending Nov. 1. For the year, comparable sales are down 5.3 percent. Sales revenue for the quarter grew 6.5 percent to $391.4 million.
Analysts surveyed by Thomson Reuters expect the company to earn 28 cents per share on revenue of $389.8 million during the third quarter.
DSW shares fell 93 cents, or 7.2 percent, to $12.07 in trading Wednesday.
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