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.
Fresh from their disappointment at seeing the Trans-Pacific Partnership (TPP) free trade deal abandoned last month with an executive order by President Donald Trump, the US apparel and footwear sector...
With the ultimate aim of ensuring all the cotton in its products is sourced sustainably, value clothing retailer Primark is adamant that having a business model focused on offering the lowest prices o...
Last week we marked the inauguration of Donald Trump as the 45th president of the United States by taking a closer look at what's at stake for the textile and apparel trade – especially his promises t...
Continuing our look at what lies ahead for the apparel industry and its supply chain in 2017, the panel of industry experts consulted by just-style last week tackled likely shifts in the sourcing land...
- "Power of the many" drives change at Otto Group
- Hard hit Turkish industry is not knocked out
- China leads US apparel sources with falling prices
- US apparel sector braces for potential cost hikes
- Vietnam grows share of US apparel imports in 2016
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Inditex and H&M boycott Dhaka Apparel Summit
- JC Penney to close 140 stores amid lower sales
- Macy's will "do the right thing", says Lundgren
- Bangladesh government steps in on labour crackdown
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022