The Talbots Inc announced a net loss of $13.3 million or ($0.25) per share for the second quarter ended August 4, 2007 and includes acquisition related and financing costs of approximately $0.10 per share.
This result compares to a net loss of $3.9 million or ($0.07) per share for the same period last year, which included acquisition related and financing costs of approximately $0.14 per share.
Total consolidated Company sales for the thirteen-week period were $572 million. By brand, retail store sales were $392 million for Talbots compared to $404 million last year, and were $80 million for J. Jill compared to $73 million last year.
Consolidated direct marketing sales for the thirteen-week period were $100 million, including catalog and Internet, compared to $95 million last year.
Total Company comparable store sales declined 4.8% for the second quarter. By brand, comparable store sales for the thirteen-week period decreased 4.9% for Talbots and declined 4.3% for J. Jill.
Arnold B. Zetcher, Talbots Chairman, commented, “We are clearly disappointed in our second quarter performance, which reflected in part a weak customer response to our spring and summer assortments at both brands."
"Although we experienced a modest increase in transactions in the quarter, the increase was more than offset by a decline in average transaction value, resulting in negative comparable store sales. We also believe that our business was affected by a shift in consumer sentiment, given the significant uncertainty in the macro environment, which led to lower levels of regular price selling.”
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