The Talbots, Inc. (NYSE: TLB) today announced total Company sales
for the thirteen weeks ended October 28, 2006 of $568.6 million,
versus last year�s reported sales of $426.3 million. By brand,
retail sales were $382.7 million for Talbots compared to $362.6
million last year, and $77.3 million for J. Jill, which was
acquired effective May 3, 2006. Sales for the J. Jill brand
represent approximately 20% of the total combined company sales
volume. Total Company comparable store sales rose 2.3% for the
thirteen-week period. By brand, comparable store sales for Talbots
increased a healthy 4%, with particularly strong Talbots brand
sales trends in August and September. However, customer demand
moderated in the latter part of October. For the J. Jill brand,
comparable store sales declined 6.6% in the period, which was in
line with Company expectations. Consolidated direct marketing sales
for the thirteen-week period were $108.6 million, including catalog
and Internet. For the Talbots brand, direct marketing sales for the
quarter were also strong, increasing high-single digits, while the
J. Jill direct business continued to be difficult. Third Quarter
Outlook The Company reconfirmed its previously announced outlook
for the third quarter earnings per diluted share to be in the range
of $0.12 to $0.15 on a GAAP basis. This range of earnings per share
includes acquisition related costs and adjustments of approximately
$0.14 and stock option expense of approximately $0.04 per share. As
previously disclosed, the $0.14 of acquisition related costs and
adjustments includes an additional $0.02 of integration expense
resulting from the advancement of certain actions into the third
quarter that were originally planned for later in the year. The
Company was able to accelerate specific actions to benefit its long
term performance, as it continues to be well ahead of schedule in
integrating J. Jill. Excluding the $0.14 estimate for costs and
adjustments, earnings per diluted share would be in the range of
$0.26 to $0.29 per share. Further, earnings per diluted share
excluding approximately $0.04 in stock option expense for the
period would be in the range of positive $0.30 to $0.33 per share
for the combined company, compared to $0.37 reported last year for
the Talbots only brand. The Company plans to release its third
quarter 2006 operating results on Wednesday, November 15, 2006 and
will provide additional details at that time. The Talbots, Inc. is
a leading international specialty retailer and cataloger of
women�s, children�s and men�s apparel, shoes and accessories. The
Company currently operates a total of 1,351 stores, in 47 states,
the District of Columbia, Canada and the U.K., with 1,120 stores
under the Talbots brand name and 231 stores under the J. Jill brand
name. Both brands target the age 35 plus customer population.
Talbots brand on-line shopping site is located at www.talbots.com
and the J. Jill brand on-line shopping site is located at
www.jjill.com. 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,� �believe,� �anticipate,�
�outlook,� �will,� �would,� �would yield,� 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, 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 the risk that the J. Jill business will not be
successfully integrated, the risk that the cost savings and other
synergies from the transaction may not be fully realized or may
take longer to realize than expected, the risk that the acquisition
will disrupt Talbots or J. Jill�s core business, the reaction of
Talbots and J. Jill customers and suppliers to the transaction,
diversion of management time on merger-related issues,
effectiveness of the Company�s brand awareness and marketing
programs, any different or any increased negative trends in its
regular-price or markdown selling, effectiveness and profitability
of new concepts, effectiveness of its Internet site, success of our
expected marketing events in driving sales, success of our catalogs
in driving both our direct marketing sales and in driving store
traffic, acceptance of the Company�s fashions including its
seasonal 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, any difference between
estimated and actual stock option expense, and retail economic
conditions including consumer spending. 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. The Talbots, Inc. (NYSE: TLB) today announced total
Company sales for the thirteen weeks ended October 28, 2006 of
$568.6 million, versus last year's reported sales of $426.3
million. By brand, retail sales were $382.7 million for Talbots
compared to $362.6 million last year, and $77.3 million for J.
Jill, which was acquired effective May 3, 2006. Sales for the J.
Jill brand represent approximately 20% of the total combined
company sales volume. Total Company comparable store sales rose
2.3% for the thirteen-week period. By brand, comparable store sales
for Talbots increased a healthy 4%, with particularly strong
Talbots brand sales trends in August and September. However,
customer demand moderated in the latter part of October. For the J.
Jill brand, comparable store sales declined 6.6% in the period,
which was in line with Company expectations. Consolidated direct
marketing sales for the thirteen-week period were $108.6 million,
including catalog and Internet. For the Talbots brand, direct
marketing sales for the quarter were also strong, increasing
high-single digits, while the J. Jill direct business continued to
be difficult. Third Quarter Outlook The Company reconfirmed its
previously announced outlook for the third quarter earnings per
diluted share to be in the range of $0.12 to $0.15 on a GAAP basis.
This range of earnings per share includes acquisition related costs
and adjustments of approximately $0.14 and stock option expense of
approximately $0.04 per share. As previously disclosed, the $0.14
of acquisition related costs and adjustments includes an additional
$0.02 of integration expense resulting from the advancement of
certain actions into the third quarter that were originally planned
for later in the year. The Company was able to accelerate specific
actions to benefit its long term performance, as it continues to be
well ahead of schedule in integrating J. Jill. Excluding the $0.14
estimate for costs and adjustments, earnings per diluted share
would be in the range of $0.26 to $0.29 per share. Further,
earnings per diluted share excluding approximately $0.04 in stock
option expense for the period would be in the range of positive
$0.30 to $0.33 per share for the combined company, compared to
$0.37 reported last year for the Talbots only brand. The Company
plans to release its third quarter 2006 operating results on
Wednesday, November 15, 2006 and will provide additional details at
that time. The Talbots, Inc. is a leading international specialty
retailer and cataloger of women's, children's and men's apparel,
shoes and accessories. The Company currently operates a total of
1,351 stores, in 47 states, the District of Columbia, Canada and
the U.K., with 1,120 stores under the Talbots brand name and 231
stores under the J. Jill brand name. Both brands target the age 35
plus customer population. Talbots brand on-line shopping site is
located at www.talbots.com and the J. Jill brand on-line shopping
site is located at www.jjill.com. 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,"
"believe," "anticipate," "outlook," "will," "would," "would yield,"
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, 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 the risk that the J.
Jill business will not be successfully integrated, the risk that
the cost savings and other synergies from the transaction may not
be fully realized or may take longer to realize than expected, the
risk that the acquisition will disrupt Talbots or J. Jill's core
business, the reaction of Talbots and J. Jill customers and
suppliers to the transaction, diversion of management time on
merger-related issues, effectiveness of the Company's brand
awareness and marketing programs, any different or any increased
negative trends in its regular-price or markdown selling,
effectiveness and profitability of new concepts, effectiveness of
its Internet site, success of our expected marketing events in
driving sales, success of our catalogs in driving both our direct
marketing sales and in driving store traffic, acceptance of the
Company's fashions including its seasonal 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, any difference between estimated and actual stock option
expense, and retail economic conditions including consumer
spending. 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.
Talbots (NYSE:TLB)
Historical Stock Chart
From May 2024 to Jun 2024
Talbots (NYSE:TLB)
Historical Stock Chart
From Jun 2023 to Jun 2024