Lillian Vernon's Own Vintage Value

Lillian Vernon Corp. (Rye, N.Y.), the mail-order merchant that also sells its gardening items, gifts and housewares through about 13 outlet stores in Delaware, New York, South Carolina and Virginia, has announced a restructuring plan in response to what it calls “an uncertain economy resulting in a sales shortfall.”

The plan – to streamline operations, control costs and reduce operating expenses – will include 12 percent reduction of the salaried workforce, company-wide. “Like most retailers, we are experiencing the economic downturn,” said chairperson and ceo Lillian Vernon, “and consumers are continuing to reduce their spending.” The company is in the midst of its 50th anniversary celebration.