Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HINGHAM, MA-The Talbots, Inc. reported in a Q2 earnings call that adjusted second quarter net loss from continuing operations, ending Aug. 1, 2009, was $17.6 million, exclusing restructuring and impairment charges. This is compared year-over-year with the $9.4 million net loss. “Comparable store sales declined 25.9%” for that half-year period, according to their Q209 report.

Trudy F. Sullivan, president and CEO of Talbots, said, “It is important to note that we are beginning to see greater benefit from the strategic initiatives we put in place. We ended the second quarter with a substantial reduction in operating expenses and solid increase in merchandise margin, all of which contributed to a significantly better-than-expected bottom line performance. We are especially pleased with our inventory position as we enter the third quarter.”

Much of this can be accounted for by the closing of 75 stores nationwide of the J. Jill brand, which did not transition with the sale of that division. J. Jill Acquisition LLC, an affiliate of San Francisco-based Golden Gate Capital, completed the purchase of J. Jill in the second quarter. Talbots cropped off the J. Jill brand and sold it for a reported $75 million to the private equity investment firm. Talbots will use the sale to pay down some of its existing debt.

In May of this year, Talbots added 10 new outlet stores, to focus on a “new customer base who shops almost exclusively at outlet centers,” explains a release. Talbots is aiming to open eight additional stores by the year’s end.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.