Home / Knowledge / News / Fashion / Women's apparel retailer Talbots reconfirms 2008 EPS outlook
Women's apparel retailer Talbots reconfirms 2008 EPS outlook
11
Jun '08
The Talbots Inc announced that Aeon Co Ltd, which through its wholly owned subsidiary is the majority shareholder of The Talbots Inc, has agreed to provide to the Company a $50 million unsecured subordinated working capital term loan credit facility to support its turnaround plan, maturing January 28, 2012.

This proposed new $50 million credit facility would supplement the Company's currently existing working capital lines of credit of $165 million. This new credit facility would increase the Company's total working capital borrowing capacity to $215 million.

Talbots President and Chief Executive Officer, Trudy F. Sullivan, said, "Talbots delivered a solid first quarter performance, despite the broader macroeconomic issues facing retailers today. We are also currently experiencing improving sales trends at both our brands and remain on track to achieve our previously announced outlook for earnings per share from ongoing core operations for fiscal 2008.

While we believe we had in place sufficient liquidity to fund the turnaround of our business, this new credit facility will provide us with an additional level of assurance and even greater flexibility to weather the current uncertainty in the credit markets. We appreciate Aeon's demonstration of confidence in our strategic plan and in our ability to successfully execute it."

On behalf of Aeon, Mr. Tsutomu Kajita, Senior Vice President, International Operations for Aeon Co., Ltd. and a member of the Talbots Board of Directors since 2005 commented, "This commitment of a new credit facility underscores our confidence in Talbots management team and the Company's turnaround plan previously approved by the Board of Directors, which is already showing positive signs of success."


Must ReadView All

China reportedly cancels trade talks with US, Liu He visit

Apparel/Garments | On 22nd Sep 2018

China reportedly cancels trade talks with US, Liu He visit

Washington is reportedly positive about arriving at a solution to its ...

AmCham Cambodia cautions US against possible sanctions

Apparel/Garments | On 22nd Sep 2018

AmCham Cambodia cautions US against possible sanctions

In a letter to US lawmakers, the American Chamber of Commerce...

Courtesy: ycloset

Apparel/Garments | On 22nd Sep 2018

Alibaba invests in clothes sharing platform Ycloset

Chinese garment sharing platform YCloset has completed an undisclosed ...

Interviews View All

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search