Talbots Announces Opening of New Design Concept Store at Westfield Garden State Plaza
February 24 2011 - 3:42PM
Business Wire
The Talbots, Inc. (NYSE:TLB) today announced that it has opened
a new design concept store at the Westfield Garden State Plaza in
Paramus, New Jersey. This unique and innovative 5,500 square foot
store features an upscale residential feel, five individual rooms
for different merchandise stories, and other exciting elements
which bring Talbots “Tradition Transformed” brand platform to life
and will appeal to both long-time and new Talbots customers.
Talbots Chief Creative Officer Michael Smaldone collaborated with
Robin Kramer at Kramer Design Group on the space.
Interior of Talbots' new concept store at
the Westfield Garden State Plaza in Paramus, New Jersey. (Photo:
Business Wire)
The Garden State Plaza design concept store pays tribute to the
Talbots brand heritage and DNA through its personalized and
boutique-like shopping environment. Extensive customer research and
feedback drove many of the important features of the store’s design
and merchandise presentation, which include a new color palette, a
more luxurious fitting room environment, area rugs, marble nesters,
ceramic tiles, étagères, brass-rimmed windows and a brass door. The
store carries a full assortment of missy and petites merchandise
and offers the widest breadth of style choices in apparel,
accessories and shoes. As a design concept location, key features
in store design, fixtures and merchandise presentation are being
evaluated for potential rollout to existing stores in support of
the company’s overall store reimage program.
“We are thrilled to bring our customers an innovative and truly
inviting shopping environment at our new design concept store in
Westfield Garden State Plaza. We look forward to fostering deep
relationships with our long term, loyal customers as well as those
who may have just recently discovered the brand,” said Trudy F.
Sullivan, Talbots President and Chief Executive Officer.
Commenting on the strategy for the new store’s design and
features, Michael Smaldone, Chief Creative Officer, said, “The
opening of this design concept store is a significant step in
continuing to push the Talbots brand forward and offering a premium
customer experience across all of our channels. This unique store
brings the highest standard of our ‘Tradition Transformed’ platform
to our customers and allows us to engage with her through a
memorable and more personalized shopping experience that we modeled
after a woman’s dream closet. We are delighted with the positive
feedback we have received about the store from our customers since
the opening.”
In order to deliver the unique an innovative shopping experience
of this new design concept store and maintain brand integrity,
Talbots partnered with Kramer Design Group on architecture,
interior design, graphics and merchandising. Kramer Design Group
works with leaders in fashion, home, luxury and lifestyle to
capture the essence of a brand and communicate its identity through
all facets of the consumer experience. By developing powerful new
signatures, revitalizing existing brands, and creating enticing
environments, Kramer Design Group brings clarity and focus to each
brand, setting them apart from their competitors. Kramer has
re-imagined more than 100 brands in the global marketplace.
The Talbots, Inc. is a leading specialty retailer and direct
marketer of women’s apparel, shoes and accessories. At the end of
the fourth quarter 2010, the Company operated 568 Talbots stores in
46 states, the District of Columbia, and Canada. Talbots brand
on-line shopping site is located at www.talbots.com.
Cautionary Statement and Certain Risk Factors to
Consider
This press release 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,” “achieve,” “plan,” “look,” “projected,”
“believe,” “anticipate,” “outlook,” “will,” “would,” “should,”
“potential” or similar statements or variations of such terms. All
of the information concerning our future liquidity, future
financial performance and results, future credit facilities and
availability, future cash flows and cash needs, strategic
initiatives and other future financial performance or financial
position, as well as our assumptions underlying such information,
constitute forward-looking information. Our forward-looking
statements are based on a series of expectations, assumptions,
estimates and projections about the Company, are not guarantees of
future results or performance, and involve substantial risks and
uncertainty, including assumptions and projections concerning our
internal plan, regular-price and markdown selling, operating cash
flows, liquidity, and credit availability for all forward periods.
Our business and our forward-looking statements involve substantial
known and unknown risks and uncertainties, including the following
risks and uncertainties:
- the continuing material impact of the
U.S. economic environment on our business, continuing operations,
liquidity, and financial results, including negative impact on
consumer discretionary spending, substantial loss of household
wealth and savings, significant tightening of the U.S. credit
markets, and unemployment levels;
- the ability to successfully increase
our store customer traffic and the success and customer acceptance
of our merchandise offerings in our stores, on our website and in
our catalogs;
- the risks associated with our efforts
to successfully implement and achieve the benefits of our current
strategic initiatives including store segmentation, store
re-imaging, store rationalization, and any other future initiatives
that we may undertake;
- the risks associated with the current
increased promotional environment;
- the ability to accurately estimate and
forecast future regular-price and markdown selling and other future
financial results and financial position;
- the satisfaction of all borrowing
conditions under our credit facility including accuracy of all
representations and warranties, no events of default, absence of
material adverse effect or change and all other borrowing
conditions;
- the ability to access on satisfactory
terms, or at all, adequate financing and sources of liquidity
necessary to fund our continuing operations and strategic
initiatives and to obtain further increases in our credit
facilities as may be needed from time to time;
- the impact of the current regulatory
environment and financial systems reforms on our business,
including new consumer credit rules;
- the risks associated with our on-going
efforts to adequately manage rising raw material and freight
costs;
- the risks associated with our
appointment of an exclusive global merchandise buying agent,
including that the anticipated benefits and cost savings from this
arrangement may not be realized or may take longer to realize than
expected; and the risk that upon any cessation of the relationship,
for any reason, we would be unable to successfully transition to an
internal or other external sourcing function;
- the ability to continue to purchase
merchandise on open account purchase terms at existing or future
expected levels and with acceptable payment terms and the risk that
suppliers could require earlier or immediate payment or other
security due to any payment concerns;
- the risks and uncertainties in
connection with any need to source merchandise from alternate
vendors;
- any impact to or disruption in our
supply of merchandise including from any current or any future
increased political or other unrest or future labor shortages in
various Asian countries which are our primary sources of
merchandise supply or any other disruption in our ability to
adequately obtain alternate merchandise supply as may be
necessary;
- the ability to successfully execute,
fund and achieve the expected benefits of supply chain
initiatives;
- any significant interruption or
disruption in the operation of our distribution facility or the
domestic and international transportation infrastructure;
- the risk that estimated or anticipated
costs, charges and liabilities to settle and complete the
transition and exit from and disposal of the J. Jill business,
including both retained obligations and contingent risk for
assigned obligations, may materially differ from or be materially
greater than anticipated;
- any future store closings and the
success of and necessary funding for closing underperforming
stores;
- the ability to reduce spending as
needed;
- the ability to achieve our 2010
financial plan for operating results, working capital and cash
flows;
- any negative publicity concerning the
specialty retail business in general or our business in
particular;
- the risk of impairment of goodwill and
other intangible and long-lived assets; and
- the risks and uncertainties associated
with the outcome of litigation, claims, tax audits, and tax and
other proceedings and the risk that actual liabilities, assessments
and financial impact will exceed any estimated, accrued or expected
amounts or outcomes;
- the risk associated with our efforts in
transforming our information technology systems to meet our
changing business systems and operations.
All of our forward-looking statements are as of the date of this
press release only. In each case, actual results may differ
materially from such forward-looking information. We can give no
assurance that such expectations or forward-looking statements will
prove to be correct. An occurrence of or any material adverse
change in one or more of the risk factors or risks and
uncertainties referred to in this press release or included in our
other periodic reports filed with the SEC could materially and
adversely affect our continuing operations and our future financial
results, cash flows, prospects and liquidity. Except as required by
law, we do not undertake or plan to update or revise any such
forward-looking statements to reflect actual results, changes in
plans, assumptions, estimates or projections or other circumstances
affecting such forward-looking statements occurring after the date
of this release, even if such results, changes or circumstances
make it clear that any forward-looking information will not be
realized. Any public statements or disclosures by us following this
release which modify or impact any of the forward-looking
statements contained in this release will be deemed to modify or
supersede such statements in this release.
In addition to the information set forth in this press release,
you should carefully consider the risk factors and risks and
uncertainties included in our 2009 Annual Report on Form 10-K and
other periodic reports filed with the SEC.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6625326&lang=en
Talbots (NYSE:TLB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Talbots (NYSE:TLB)
Historical Stock Chart
From Jul 2023 to Jul 2024