Interviews
News Flash
Talbots brand April comps positive mid-single digits
22 May '08
3 min read
• Demonstrated success in improving merchandise gross margin from ongoing core operations, 260 basis points above last year (a 220 basis point improvement on a GAAP basis for total company), driven principally by better overall inventory management at the Talbots brand with leaner inventories, and the change to a monthly markdown cadence
• Significant progress in closing Talbots Kids/Mens/U.K. businesses and streamlining operations
Results from Ongoing Core Operations/Non Core Operations:
The Company has made significant progress in closing its Talbots Kids, Mens and U.K. stores. In the first quarter, the Company closed a total of 20 stores, which included 11 Talbots Kids and two Talbots Mens stores. As previously stated, the Company expects to complete the closing of its Talbots Kids, Mens and U.K. businesses in the third quarter of 2008.
Trudy F. Sullivan, Talbots President and Chief Executive Officer, commented, "During the quarter, we focused on the strategic initiatives we put in place to better manage our inventories, control expenses, streamline our operations and innovate our marketing/promotional programs. It was a solid quarter and we are encouraged with our progress, particularly in the Talbots brand, where we have seen a dramatic improvement in our merchandising gross margin."
Sales Results:
Total consolidated Company sales for the thirteen week period ended May 3, 2008 were $542 million. By brand, retail store sales were $363 million for Talbots compared to $387 million last year, and $71 million for J. Jill compared to $81 million last year.
Consolidated direct marketing sales, including catalog and Internet, for the thirteen-week period increased 2% to $108 million, compared to $106 million last year.
Total Company comparable store sales declined 9.8% for the thirteen-week period. By brand, comparable store sales for Talbots and J. Jill decreased 7.4% and 20.2% respectively.
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• Significant progress in closing Talbots Kids/Mens/U.K. businesses and streamlining operations
Results from Ongoing Core Operations/Non Core Operations:
The Company has made significant progress in closing its Talbots Kids, Mens and U.K. stores. In the first quarter, the Company closed a total of 20 stores, which included 11 Talbots Kids and two Talbots Mens stores. As previously stated, the Company expects to complete the closing of its Talbots Kids, Mens and U.K. businesses in the third quarter of 2008.
Trudy F. Sullivan, Talbots President and Chief Executive Officer, commented, "During the quarter, we focused on the strategic initiatives we put in place to better manage our inventories, control expenses, streamline our operations and innovate our marketing/promotional programs. It was a solid quarter and we are encouraged with our progress, particularly in the Talbots brand, where we have seen a dramatic improvement in our merchandising gross margin."
Sales Results:
Total consolidated Company sales for the thirteen week period ended May 3, 2008 were $542 million. By brand, retail store sales were $363 million for Talbots compared to $387 million last year, and $71 million for J. Jill compared to $81 million last year.
Consolidated direct marketing sales, including catalog and Internet, for the thirteen-week period increased 2% to $108 million, compared to $106 million last year.
Total Company comparable store sales declined 9.8% for the thirteen-week period. By brand, comparable store sales for Talbots and J. Jill decreased 7.4% and 20.2% respectively.
The Talbots Inc
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