Retailers, consumers and prices
Check Out Line: Quarterly loss and job cuts at Talbots
Talbots, whose clientele consists mainly of women above 35 years old, reported a first-quarter loss of 23 cents a share, less than half the 49-cent loss analysts had expected.
The company, majority owned by Japan’s Aeon Co Ltd, also said it would cut corporate headcount by about 20 percent in a move to save $150 million annually.
The loss came a day after Talbots agreed to sell its J.Jill division to Golden Gate Capital for $75 million just three years after buying it for $517 million. That sale is part of Talbots efforts to focus on turning around its core business and newly launched upscale outlet.
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