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Talbots plans to close Kids & Mens concepts
04 Jan '08
3 min read
The Talbots Inc announced that after a thorough evaluation of its business, it will exit its Talbots Kids and Talbots Mens concepts by September 2008. The decision is part of Talbots strategic business review that was announced on October 9, 2007, which is expected to be completed in the first quarter of 2008.
The strategic review revealed that these concepts did not demonstrate the potential to deliver acceptable long-term return on investment. The executive management team, with the full support of the Company's Board of Directors, determined that discontinuing these businesses will enable The Talbots, Inc. to redirect resources and capital towards its core businesses, including Talbots Misses, Petites, Womans, Collection, Accessories & Shoes and J. Jill Missy, Petites and Womans.
Trudy F. Sullivan, The Talbots, Inc. president and Chief Executive Officer, commented, "This is a very important strategic move that will greatly contribute to our ability to focus and reinvigorate our core brands and provide sustainable long-term shareholder value. By exiting these concepts, we can focus exclusively on our company's core strength - the age 35 plus female market, where we believe there is significant opportunity for profitable growth in both our Talbots and J. Jill brands."
"I would like to sincerely thank everyone, who over the years invested considerable time and effort in developing Talbots Kids and Mens. Regrettably we must make these difficult decisions that will help grow and improve our core business."
The strategic review revealed that these concepts did not demonstrate the potential to deliver acceptable long-term return on investment. The executive management team, with the full support of the Company's Board of Directors, determined that discontinuing these businesses will enable The Talbots, Inc. to redirect resources and capital towards its core businesses, including Talbots Misses, Petites, Womans, Collection, Accessories & Shoes and J. Jill Missy, Petites and Womans.
Trudy F. Sullivan, The Talbots, Inc. president and Chief Executive Officer, commented, "This is a very important strategic move that will greatly contribute to our ability to focus and reinvigorate our core brands and provide sustainable long-term shareholder value. By exiting these concepts, we can focus exclusively on our company's core strength - the age 35 plus female market, where we believe there is significant opportunity for profitable growth in both our Talbots and J. Jill brands."
"I would like to sincerely thank everyone, who over the years invested considerable time and effort in developing Talbots Kids and Mens. Regrettably we must make these difficult decisions that will help grow and improve our core business."
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