2Q Earnings, Sales Boost Talbots

Share this article:
Citing clearance inventory levels that declined from last year, Talbots Inc., Hingham, MA, last week reported July sales of $76.3 million, flat with the same period a year ago, and said comparable-store sales slipped 7.9 percent for the month. The company cited strong sales of its regular-priced merchandise to account for the clearance inventory decline, which cut into comparable-store sales but has given the specialty retailer and cataloger of women's apparel a positive earnings outlook for the second quarter overall. For the second quarter ended Aug. 1, the cataloger expects to report earnings in the range of 2 cents to 4 cents a share on a diluted basis, well in excess of the street's current estimates, which put Talbots' quarter at a loss of 8 cents per diluted share. Talbots' forecast also tops the company's 1997 second quarter, when it reported a loss of 35 cents per diluted share. Arnold B. Zetcher, president and CEO at Talbots, said in a prepared statement that the company is pleased by customers' response to its merchandise through the spring season, adding that he expects a performance for the first half that is "well above both last year and our expectations earlier this year." For the most recent quarter, overall sales increased 9 percent to $267.7 million, up from $244.9 million in the year-ago period. Talbots' catalog sales climbed 10 percent to $32.3 million, while retail sales rose 9 percent to $235.4 million.
Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Nielsen Allies With Pointlogic on Cross-Channel Planning

Nielsen Allies With Pointlogic on Cross-Channel Planning

Aim is to develop a "next generation" media planning tool.

If Only Engendering Loyalty Was as Easy as Clicking Your Heels

If Only Engendering Loyalty Was as Easy as ...

Rack Room Shoes combines data, research, and mobile email to deliver a high-heeled digital loyalty program.

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Hub aims to help CMOs deliver on ROI goals by extending customer lifecycles.