Shop Talk

Retailers, consumers and prices

Check Out Line: Quarterly loss and job cuts at Talbots

June 9, 2009

talbots1Check out the quarterly loss and job cuts at women’s apparel retailer 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.

Also in the basket:

Chopard eyes 2009 sales drop of 10 percent

Men’s Wearhouse Q1 beats estimates, shares rise

Juicy Couture head sees holiday growth

P&G Chooses a New CEO as It Adapts to Era of Thrift (Wall Street Journal)

A Level of Luxury: Saks Pulls Out All Stops on Design Floor (WWD, subscription required)

(Reuters photo)

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •