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.
Fashion retailer H&M and UK based glove and leather manufacturer Pittards both say they are monitoring the situation in Ethiopia closely after the country's government declared a state of emergency af...
Increasing competition for garment sourcing contracts is seeing China not only being challenged by other countries in Asia, but by sub-Saharan African and even Russian suppliers too. And it is pushing...
The monthly minimum wage for workers in Cambodia's textile, garment and footwear sector is set to rise to $153 from January next year, following a vote on the issue last week. The increase marks a ris...
The results of two highly-anticipated initiatives in the sportswear sphere were revealed last week: the launch of Under Armour’s new UAS lifestyle brand and the first pair of running shoes created at ...
- Fashion fit for the future – strategies for speed
- Digitisation to drive new apparel-making models
- How PVH is paving the way for connected apparel
- Will new Vietnam wage hinder competitiveness?
- Under Armour Lighthouse will disrupt production
- Child refugees found in Turkey apparel factories
- US Q3 in brief - Rocky Brands, Gymboree Corp
- Chinese manufacturer invests $20m in US facility
- Managing change in the move to new tech tools
- Reebok Liquid Factory reinvents shoe production
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Apparel (GLOBAL) - Industry Report
- Global Sports and Fitness Wear Market 2016-2020