USA: Talbots Announces Sales Increase Of 16.5 Per Cent
Arnold B. Zetcher, chairman, president and chief executive officer, commented: "Our healthy regular-price selling continued throughout the period which, coupled with an exceptionally strong start to our semi-annual sale, resulted in solid comp store sales growth of 16.5%. Sales trends continued to be strong across all concepts and in all channels, including stores, catalog and Internet, with each performing above our expectations."
"Looking ahead, July is traditionally the month in which we clear the vast majority of our remaining spring inventory through our semi-annual sale. Since we have experienced such outstanding sell-through of regular-price merchandise during the first half of the year, including better than expected trends in June, our stores will have less leftover clearance inventory for the remainder of our semi-annual sale event. We are obviously pleased with this, and although it will impact our July comparable store sales, it will significantly benefit profitability in the second quarter. We are completing a very successful spring season and feel well positioned as we transition into our new fall assortments," Mr Zetcher concluded.*
Talbots is a leading national specialty retailer and cataloger of women's classic apparel, shoes and accessories. The Company operates 683 stores - 406 Talbots Misses stores, including 19 Talbots Misses stores in Canada and six Talbots Misses stores in the United Kingdom; 160 Talbots Petites stores, including one Talbots Petites store in Canada; 35 Talbots Accessories & Shoes stores; 54 Talbots Kids stores; eight Talbots Woman stores; and 20 Talbots Outlet stores. Its catalog operation circulated approximately 57 million catalogs worldwide in fiscal 1999. Talbots on-line shopping site is located at www.talbots.com.
The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Reform Act of 1995. The statements may be identified by an "asterisk" ("*") or such forward-looking terminology as "expect," "look," "believe," "anticipate," "may," "will," or similar statements or variations of such terms. Such forward-looking statements involve risks and uncertainties including levels of sales, effectiveness of the Company's brand awareness and marketing programs, effectiveness and profitability of new concepts, effectiveness of its new e-commerce site and the overall effect of e-commerce on Talbots business, store traffic, acceptance of Talbots fashions, appropriate balance of merchandise offerings, and timing and levels of markdowns, and, in each case, actual results may differ materially from such forward- looking information. Certain other factors that may cause actual results to differ from such forward-looking statements are included in the Company's Current Report on Form 8-K dated October 30, 1996 filed with the Securities and Exchange Commission (a copy of which may also be obtained from the Company at 781-741-4500) as well as other periodic reports filed by the Company with the Securities and Exchange Commission and you are urged to consider such factors. The Company assumes no obligation for updating any such forward-looking statements.
Companies: Talbots Inc
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