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Talbot sees dip in Q3 sales due to discontinued opts of J.Jill
07 Nov '08
4 min read
Ms. Sullivan continued, "Our third quarter sales results reflect a challenging macro-environment, which was exacerbated in mid-September by a meaningful decline in customer traffic resulting from consumer reaction to the financial crisis and related economic turmoil.
Entering the quarter, we were cautiously optimistic given our new merchandise and marketing strategies. We did see increasing positive customer response to our new assortments, as evidenced by an improvement throughout the quarter in average unit retail, dollars per transaction as well as an increase in conversion rate.
However, our overall performance was significantly impacted when consumer traffic and spending dropped off dramatically with news of the global financial fallout."
"This is clearly a very difficult economic cycle. That said, we believe that we are effectively managing the business by preserving capital and liquidity. In the near-term, we continue to minimize discretionary spending, tightly control our inventory, and continue to drive further improvements in working capital as we focus on enhancing our cash flow to fund the successful turnaround of our Company and pay down debt."
"We do have the benefit of having closely examined our business beginning almost a year ago and developed a comprehensive strategic plan, and those strategic efforts have been producing positive effects on our business."
Entering the quarter, we were cautiously optimistic given our new merchandise and marketing strategies. We did see increasing positive customer response to our new assortments, as evidenced by an improvement throughout the quarter in average unit retail, dollars per transaction as well as an increase in conversion rate.
However, our overall performance was significantly impacted when consumer traffic and spending dropped off dramatically with news of the global financial fallout."
"This is clearly a very difficult economic cycle. That said, we believe that we are effectively managing the business by preserving capital and liquidity. In the near-term, we continue to minimize discretionary spending, tightly control our inventory, and continue to drive further improvements in working capital as we focus on enhancing our cash flow to fund the successful turnaround of our Company and pay down debt."
"We do have the benefit of having closely examined our business beginning almost a year ago and developed a comprehensive strategic plan, and those strategic efforts have been producing positive effects on our business."
The Talbots Inc
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