Home / Knowledge / News / Apparel/Garments / Talbots reports decreasing sales in Q3
Talbots reports decreasing sales in Q3
05
Dec '11
The Talbots Inc. reported results for the third quarter and commented on key initiatives and actions as well as fourth quarter 2011.

Third quarter loss from continuing operations was $22.1 million, or $0.32 per share, compared to last year's income from continuing operations of $17.0 million, or $0.24 per share.

Adjusted third quarter loss from continuing operations was $15.5 million, or $0.22 per share, excluding special items of $6.6 million, or $0.10 per share, compared to last year's adjusted income from continuing operations of $18.7 million, or $0.27 per share.

Trudy F. Sullivan, Talbots President and Chief Executive Officer, commented, “While we are not satisfied with our performance, we believe the modifications we are making to our merchandise assortment are better resonating with our core customer, which is consistent with the results of our most recent consumer research studies. Stronger product combined with a more aggressive promotional strategy, including the acceleration of a fall seasonal sale, drove improved customer traffic, conversion and sales trends in each month of the quarter, generating positive comparable store sales and consolidated comparable sales in October.”

“While November consolidated comparable sales decreased approximately 4.0%, we experienced a strong Black Friday and Cyber Monday and have seen improved customer traffic and strong conversion thus far in the fourth quarter. Given changes to our promotional cadence, if we view October and November on a combined basis, consolidated comparable sales were approximately flat, which is a significant improvement compared to the prior eight month period. We expect the holiday season to remain challenging and highly promotional, and we will continue to respond accordingly. ”

“Going forward, we are focused on product execution, aggressive inventory management, the completion of our new $50 million annualized cost reduction initiative and the ongoing implementation of our store reimage and store rationalization programs as well as the expansion of our upscale outlet business,” concluded Ms. Sullivan.

Third Quarter 2011 Operating Results:
• Operating loss was $18.1 million, compared to prior year's operating income of $19.8 million.
• Adjusted operating loss, excluding special items of $6.6 million, was $11.5 million, a decrease of $33.0 million, compared to prior year's adjusted operating income of $21.5 million.
• Net sales decreased 6.6% to $279.5 million, compared to $299.1 million in the same period last year.
• Consolidated comparable sales decreased 4.0%, which includes Internet, catalog and red-line sales. With sales trends improving in each month of the quarter, October consolidated comparable sales increased 3.6%. Consolidated comparable sales exclude stores scheduled to close under the Company's store rationalization plan.
• Store sales decreased 5.1% to $229.8 million, compared to $242.1 million in the same period last year. Comparable store sales decreased 2.4% in the third quarter of 2011, excluding stores scheduled to close under the Company's store rationalization plan. October comparable store sales increased 8.2%.

Must ReadView All

Courtesy: Kornit Digital

Textiles | On 28th Feb 2017

'Customisation is an advantage of digital printing'

Changing business models and companies' decision to reduce their...

Textiles | On 28th Feb 2017

China's textile & apparel exports up 10.2% in Jan 2017

Exports of textiles and garments from China resumed growth in the...

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search