Talbots Posts Quarterly Loss
Hingham, Mass. Talbots reported Wednesday a net loss of $171 million for the fourth quarter ended Feb. 2, 2008. Meanwhile, fourth-quarter sales totaled $587 million, compared to $638 million for the 14 weeks ended Feb. 3, 2007.
By brand, retail store sales for Talbots hit $388 million, compared to $433 million for the same period a year ago. J. Jill reported $86 million in sales, compared to $91 million last year. Last month, the retailer said it would cut spending, open fewer new stores and close 100 underperforming stores this year. These remediations are in addition to Talbots’ plan to reduce costs and revamp its merchandise.