Net Loss for Talbots in 2Q

Aug 23, 2007 12:10 AM  By

Apparel cataloger/retailer The Talbots (NYSE: TLB) announced a net loss of $13.3 million, or $0.25 per share, for the second quarter ended Aug. 4. The company lost $3.9 million during the same period in 2006. Total same-store sales fell 4.8%. By brand, same-store sales decreased 4.9% for Talbots and 4.3% for J. Jill.

CEO Arnold B. Zetcher said in a release: “We are clearly disappointed in our second-quarter performance, which reflected in part a weak customer response to our spring and summer assortments at both brands. Although we experienced a modest increase in transactions in the quarter, the increase was more than offset by a decline in average transaction value, resulting in negative comparable store sales. We also believe that our business was affected by a shift in consumer sentiment, given the significant uncertainty in the macro environment, which led to lower levels of regular price selling.”