Clothing cataloger Talbots retail store sales up 11% in Q2

17 Aug '05

5 min read

Total Company net sales increased 10 percent to $896.1 million from $813.7 million in the first half last year. Retail store sales were $766.9 million, 10 percent above the $697.6 million in the same period last year. Included in retail store sales was an increase of 5.5 percent in comparable store sales. Direct marketing sales increased 11 percent to $129.2 million, compared to $116.1 million reported in the six-month period last year.

Arnold B. Zetcher, Chairman, President and Chief Executive Officer (CEO), commented, "They are delighted to have achieved record second quarter earnings per diluted share of $0.35, above the current First Call consensus estimate. This reflects a 25 percent increase over last year's earnings per share of $0.28, excluding the $0.06 tax benefit. Our results were driven by consistently healthy sales growth in all concepts, US regions and across all channels, including stores, catalog and the Internet."

Mr. Zetcher continued, "Looking at the entire first half of the year, we experienced six consecutive months of positive comparable store sales and ended the spring season with a solid 5.5 percent comp store increase. In addition, they achieved earnings per share of $0.98, which reflects a 14 percent increase over last year's $0.86 excluding the $0.06 tax benefit, setting a new record for our Company. Our customer's positive response to our spring and summer merchandise assortments contributed to a steady improvement in company business throughout the entire season resulting in solid top and bottom line growth."

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