Talbot's books losses in FY'12

13 Apr '12

2 min read

The Talbots, Inc. reported results for the fourth quarter and fiscal year ended January 28, 2012.

Fourth quarter loss from continuing operations was $53.2 million, or $0.77 per share, compared to last year's loss from continuing operations of $2.8 million, or $0.04 per share. Adjusted fourth quarter loss from continuing operations was $36.2 million, or $0.52 per share, excluding special items of $17.1 million, or $0.25 per share, compared to last year's adjusted loss from continuing operations of $9.6 million, or $0.14 per share.

Fiscal year 2011 loss from continuing operations was $111.8 million, or $1.62 per share, compared to last year's income from continuing operations of $7.6 million, or $0.11 per share. Adjusted full year 2011 loss from continuing operations was $81.8 million, or $1.19 per share, excluding special items of $30.0 million, or $0.43 per share, compared to last year's adjusted income from continuing operations of $40.6 million, or $0.61 per share.

Trudy F. Sullivan, Talbots President and Chief Executive Officer, said, “Our fourth quarter performance reflects an aggressive promotional and markdown strategy in a challenging retail environment. This resulted in a sequential improvement in both customer traffic and sales trends compared to the third quarter. We were able to clear through excess merchandise to better position ourselves for spring, ending the year with total inventories up approximately 4%. We remain focused on enhancing our product and executing our key strategic initiatives, as the Board continues its evaluation of a full range of strategic alternatives.”

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