Blog: Talbots in transition
Leonie Barrie | 13 March 2008
Hidden in Talbots’ fourth-quarter and full-year results statement yesterday was news that the company plans to close an additional 20 underperforming stores this year.
The latest scale-back comes just two months after Talbots said it would shut 66 Talbots Kids and 12 Talbots Mens stores this year – and is amid quarterly losses of $171m and an 8% slump in sales.
The retailer blames the “challenging economy” behind its reduction plan, and says it intends to cut its new store openings to 46 this year, down from 75 last year.
Talbots CEO Trudy F Sullivan calls 2008 a year of transition for the company – but most worrying for analysts are the costs associated with its disastrous acquisition of women’s clothing retailer J Jill Group.
It seems non cash write downs of $150m are attributable to J Jill, and that with its lower growth and earnings projections the chain is worth less today than it was when Talbots bought it for $517m in 2006.
Some of just-style’s more eagle-eyed readers might have noticed a small change to the menu bar on the homepage: the addition of the word re:source. Yes it might be a small change – but it marks the co...
Over the past week just-style has continued to try to unravel the potential ramifications of Donald Trump’s election as the next president of the United States....
One event dominated the international airwaves last week, and on just-style too we took a closer look at the surprise election of Donald Trump as the 45th president of the United States....
As the Brexit roller-coaster continues to twist and turn, and the US presidential election campaign nears its unpredictable and possibly protectionist end, there's no doubt these events – and the perc...
- Trump blows the case for Brexit out of the water
- How to ensure sustainability is more than a slogan
- Steps to piloting living wage in garment factories
- Duty-free trade key to build Africa supply chains
- Bangladesh slips as US imports decline in October
- Taiwan textile maker investing in first US plant
- Outdoor apparel sector set for double-digit growth
- US Q3 in brief – Destination Maternity, Cherokee
- World cotton price prospects lifted again
- Adidas NYC flagship raises the bar on sport stores