Eddie Bauer Holdings, Inc. said that preliminary comparable store sales fell 5.7%for the quarter and 1.1% for the fiscal year, excluding the effect from foreign exchange rates. Eddie Bauer also said it expects to report that its adjusted earnings before income, taxes, depreciation and amortization in the fourth quarter of $53 million to $58 million, a decrease of $2 million to $7 million from the year-earlier quarter.
The company said its fiscal year results are estimated with $50 million to $55 million growth for fiscal 2008, an increase of $8 million to $13 million.
Eddie Bauer also said it will make other cost-cutting measures in 2009 including freezing salaries, adjusting its benefits program, cutting the size of its board of directors and cutting total board costs by up to 50 percent.
The company also said it will cut $10 million to $15 million in administrative costs, limit its capital spending and speed up new product development and launches.