The footwear retailer says it has completed a previously announced restructuring study designed to improve the alignment of key business functions, accelerate decision-making and reduce operating expenses.

The company anticipates taking a fourth-quarter charge of about $70 million pre-tax, $43 million after-tax, or about $1.94 per share. The charge includes costs associated with the closing of 104 under-performing stores, including severance, lease terminations, assetwrite-offs for closed and impaired stores, and fees for professional services relating to developing and implementing the restructuring plan. The charge also will include the previously announced estimate of $18 million to $20 million for restructuring the corporate office and the closing of four division offices.

The stores to be closed include 67 stores operating under the Parade trade name, and 37 Payless ShoeSource stores. The remaining Parade locations will be concentrated in the Northeast and some other major metropolitan areas.