Talbots Q1 loss narrows

Hingham, Mass. The Talbots said Tuesday its fiscal first-quarter net loss narrowed as shoppers snapped up its spring offerings.

Talbots reported a net loss of $4.4 million for the three months ended May 1, compared with a net loss of $23.6 million a year ago.

Revenue rose 4% to $320.7 million, from $306.2 million last year. Analysts expected revenue of $323 million.

Meanwhile, same-store sales rose 2.4% as the company sold more items at full price.

After struggling with weak sales during the recession, Talbots earlier this year pulled off a complex deal that let it reduce its debt and buy out its largest shareholder, Japanese retail company Aeon (U.S.A.), which held a 54% stake.