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Talbots to cut costs, focus on merchandise assortments

02
Apr '08
The Talbots Inc unveiled its strategic plan for long-term growth at its 2008 Investor Meeting. Under the plan, Talbots, Inc. is becoming a design-led organization, focused on delivering compelling merchandise assortments that reflect each brand's unique identity.

In addition, the Company will streamline its operations, control costs and inventories, innovate its marketing programs and implement more efficient processes across all business functions.

Further, the Company has identified five key growth platforms upon which to build its business going forward. Together, these initiatives are expected to drive meaningful long-term growth and profitability and deliver enhanced shareholder value.

The Talbots, Inc, strategy is based on the opportunity to significantly improve profitability. The Company will focus on its core competencies to drive stronger operating margins on moderate sales growth.

Commenting on the plan, Talbots President and Chief Executive Officer Trudy F. Sullivan said, "We are extremely pleased with the outcome of our strategic review and believe the process proved highly productive. The results validated the growth potential for both the Talbots and J. Jill brands, and we are now focused on strengthening those brands accordingly."

"We have identified several key areas of focus and are already well on our way in implementing a number of strategic initiatives.

We have significantly strengthened our senior management team with a number of key executive appointments, revamped Talbots and J. Jill merchandising and marketing strategies, exited non-core underperforming concepts and will continue to critically evaluate our entire store base. We believe this has built the right foundation to restore sustainable profitability in 2008 and beyond."


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