Talbots Income Up for Year, Down for 4th Quarter
Net income for the fourth quarter, which ended Feb. 2, was $32.5 million, down from $33 million a year earlier.
Net sales in the quarter fell 8 percent to $433.2 million from $473.1 million a year ago.
Store sales for the women's apparel retailer dropped 6 percent to $362.7 million from $387.7 million a year ago. Included in retail store sales was a 5.5 percent decline in comparable-store sales for the 13-week period ended Feb. 2, compared with a 12.8 percent rise in the fourth quarter last year. Catalog sales fell 17 percent to $70.5 million from $85.4 million in the prior-year period.
Net sales for the year rose 1 percent to $1.6125 billion from $1.595 billion a year ago.
Retail store sales rose 2 percent to $1.346 billion from $1.326 billion in fiscal 2000. Included in retail store sales was a drop in comparable-store sales of 2.6 percent in the 52-week period following a 16.3 percent increase last year. Catalog sales fell 1 percent to $266.5 million from $269 million in fiscal 2000.
The company's catalog operation circulated about 57 million catalogs worldwide in fiscal 2001.