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Talbots Q1 profit declines, warns on Q2
17 May '06
3 min read
"Regarding our store expansion plan, during the quarter, we opened three new Talbots Misses stores and ended the period with a total of 1,086 stores. Our plan is to open approx. 50 new Talbots brand stores in 2006, which would bring us to approx. 1,128 Talbots stores at the end of the year. For the J Jill brand, we currently plan to open approx. 42 new stores in fiscal 2006, ending the year with approx. 241 J Jill stores. In total, The Talbots Inc will end the fiscal year 2006 with approx. 1,369 stores in operation," continued Zetcher.
Commenting on the outlook for the second quarter of fiscal 2006, Zetcher noted, "We are still in the early stages of our integration, and have entered into a period of significant change. Nevertheless, we are currently targeting a second quarter loss per diluted share on a GAAP basis to be in the range of ($0.15) to ($0.05)."
"Turning to the second half of this year, for the Talbots brand, we believe we are well-positioned to benefit particularly from the new merchandising initiatives we established late last year. On the J Jill side, we anticipate improvement in its business performance in fiscal 2007, when any initiatives by our new leadership team begin to take effect.
"In closing, we are delighted to now be moving ahead with this J Jill merger. We have confidence in the brand's potential for the future and its ability to enhance The Talbots Inc position in the marketplace. Given our strong company fundamentals and significant new opportunities for growth, we are optimistic about building additional shareholder value for the long term," concluded Zetcher.
The Talbots Inc is a leading international specialty retailer and cataloger of women's, children's and men's apparel, shoes and accessories. It currently operates a total of 1,291 stores in 47 states, the District of Columbia, Canada and the UK, with 1,086 stores under the Talbots brand name and 205 stores under the J Jill brand name. Both brands target the age 35+ female population.
Commenting on the outlook for the second quarter of fiscal 2006, Zetcher noted, "We are still in the early stages of our integration, and have entered into a period of significant change. Nevertheless, we are currently targeting a second quarter loss per diluted share on a GAAP basis to be in the range of ($0.15) to ($0.05)."
"Turning to the second half of this year, for the Talbots brand, we believe we are well-positioned to benefit particularly from the new merchandising initiatives we established late last year. On the J Jill side, we anticipate improvement in its business performance in fiscal 2007, when any initiatives by our new leadership team begin to take effect.
"In closing, we are delighted to now be moving ahead with this J Jill merger. We have confidence in the brand's potential for the future and its ability to enhance The Talbots Inc position in the marketplace. Given our strong company fundamentals and significant new opportunities for growth, we are optimistic about building additional shareholder value for the long term," concluded Zetcher.
The Talbots Inc is a leading international specialty retailer and cataloger of women's, children's and men's apparel, shoes and accessories. It currently operates a total of 1,291 stores in 47 states, the District of Columbia, Canada and the UK, with 1,086 stores under the Talbots brand name and 205 stores under the J Jill brand name. Both brands target the age 35+ female population.
The Talbots Inc
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