But what remains are statements of expense reductions without saying how you will achieve them".
SKU rationalization is, essentially, a cost-containment strategy and, as retail industry consultant Bill Emerson voiced, "There is an old rule in retailing that you can only grow earnings through expense reduction for so long".
We have more expense reduction to go.
But legal fees represent the major expense reduction, from $16.5 million to $2.34 million.
If DeMarco really believes that "asset management" and expense reduction is his prime responsibility, banks negotiate principal reductions all the time -- for corporations.
Kimberly-Clark, which is based in Dallas, reduced costs by more than $40 million in the last quarter, part of $200 million in expense reductions planned for the year.
"We expect there will be reductions of some selected staff as well as other expense reductions," said Richard Silverman, a spokesman for the company, which employed 72,000 people at the end of last year.
"We're trying to avoid expense reductions that would affect service," Mr. Mahoney said.
Open the "Expenses" worksheet tab and label columns for expense description, cost type, fixed expenses and variable expenses.
The company took a charge of $3.1 million after taxes to pay for expenses related to work-force reductions at The Boston Globe and at the company's regional newspaper group.
