TLB Talbots (The)

The Talbots, Inc. (NYSE: TLB) today announced sales for fiscal August, the four weeks ended August 27, 2005, increased 9% to $93.1 million from $85.4 million for the four weeks ended August 28, 2004. Comparable store sales increased 2.3% for the month, as expected. Year-to-date sales for the thirty weeks ended August 27, 2005 increased 10.0% to $989.2 million from $899.1 million reported for the thirty weeks ended August 28, 2004. Comparable store sales increased 5.2% for the year-to-date period. Arnold B. Zetcher, Chairman, President and Chief Executive Officer, commented, "We are pleased with our August results, which were in line with our expectations and marked our ninth consecutive month of positive comp store sales gains. One of the smallest volume months of the year, August is also a transitional period in which we complete our semi-annual sale and transfer the remaining clearance merchandise to our outlet stores." "Looking ahead, we feel very good about our merchandise assortments, our inventory levels, and our comprehensive marketing campaign, including national print and television advertising, direct mail and a variety of in-store initiatives. Given these factors, we believe we are well-positioned for a successful September, which we view as the true start to the fall selling season," concluded Mr. Zetcher. Talbots is a leading national specialty retailer and cataloger of women's, children's and men's classic apparel, shoes and accessories. The Company operates 1,072 stores - 529 Talbots Misses stores, including 20 Talbots Misses stores in Canada and four Talbots Misses stores in the United Kingdom; 290 Talbots Petites stores, including four Talbots Petites stores in Canada; 41 Talbots Accessories & Shoes stores; 71 Talbots Kids stores; 104 Talbots Woman stores, including three Talbots Woman stores in Canada; 12 Talbots Mens stores; one Talbots Collection store; and 24 Talbots Outlet stores. Its direct segment currently expects to circulate approximately 48 million catalogs worldwide in fiscal 2005. Talbots on-line shopping site is located at www.talbots.com. For more detailed information, please visit our website at www.talbots.com, or call (703) 736-7208 to listen to The Talbots, Inc. monthly sales recording. The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Reform Act of 1995. These statements may be identified by such forward-looking terminology as "expect," "look," "plan," "believe," "anticipate," "outlook," "comfortable with," "would," or similar statements or variations of such terms. All of the "outlook" information (including future revenues, future comparable sales, future earnings, future EPS, and other future financial performance or operating measures) constitutes forward-looking information. Our outlook and other forward-looking statements are based on a series of expectations, assumptions, estimates and projections about our Company which involve risks and uncertainty, including assumptions and projections concerning store traffic, levels of store sales including regular-price selling and markdown selling, the success of our semi-annual sales event, and customer preferences. All of our outlook information and other forward-looking statements are as of the date of this release only. The Company can give no assurance that such outlook or expectations will prove to be correct and does not undertake to update or revise any "outlook" information or any other forward-looking statements to reflect actual results, changes in assumptions, estimates or projections, or other circumstances occurring after the date of this release, even if such results, changes or circumstances make it clear that any projected results will not be realized. Our forward-looking statements involve substantial known and unknown risks and uncertainties as to future events which may or may not occur, including effectiveness of the Company's brand awareness and marketing programs, effectiveness and profitability of new concepts including the Mens concept, effectiveness of its e-commerce site, acceptance of Talbots fashions including its fall and winter 2005 fashions, the Company's ability to anticipate and successfully respond to changing customer tastes and preferences and to produce the appropriate balance of merchandise offerings, the Company's ability to sell its merchandise at regular prices as well as its ability to successfully execute its major sale events including the timing and levels of markdowns and appropriate balance of available markdown inventory, retail economic conditions including consumer spending, consumer confidence and a continued uncertain economy, and the impact of a continued promotional retail environment. In each case, actual results may differ materially from such forward-looking information. Certain other factors that may cause actual results to differ from such forward-looking statements are included in the Company's periodic reports filed with the Securities and Exchange Commission and available on the Talbots website under "Investor Relations" and you are urged to carefully consider all such factors.