Talbots Inc.’s
second-quarter profit rose 12 percent as the women’s clothing
retailer controlled costs and inventory and sold its merchandise
mostly at full price.
Net income increased to $20 million, or 33 cents a share,
from $17.8 million, or 28 cents, a year earlier, Talbots said in a
statement. Sales in the quarter ended Aug. 3 fell 3.6 percent to
$370.4 million from $384.3 million.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
Talbots kept inventory low so it was left with fewer items
for its clearance sale at the end of the quarter than a year
earlier. That led to a 10 percent decline in sales at stores open
at least a year. Expense controls, and demand for Talbots’ summer
and early fall fashions at full price, helped widen profit
margins, investors said.
The shares of Talbots rose 34 cents to $32.65 at 10:03 a.m.
in New York Stock Exchange composite trading. The stock had fallen
20 percent in the past year.
The Hingham, Massachusetts-based retailer said it will open
91 stores this year, six more than originally planned. It also
will advertise on television next month and introduce the Talbots
Mens line of clothing in a 24-page catalog in October.
Bloomberg News
