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Talbots Narrows Q2 Loss

Sep 09, 2009 (MarketNewsVideo.com via COMTEX) -- By MarketNewsVideo.com

Company: Talbots, Inc. (THE) (TLB)

Talbots (TLB) narrowed its loss for its second quarter, the women's retailer said Wednesday, as it works to turn itself around with cost cutting.

Talbots' net loss totaled $24.5 million, or 45 cents per share, as compared to a loss of 25 million, or 47 cents per share, in the same quarter last year. Excluding items, Talbots lost 33 cents per share, better than analysts expected. Sales from continuing operations fell 23 percent to $304.6 million.

Talbots is majority owned by Japan's Aeon (AONNY). It is working towards a goal of cutting costs by $150 million a year. The company completed the sale of its J. Jill unit earlier in the summer. Talbots said it is looking for adjusted earnings of 24 to 30 cents per share in its fiscal third quarter.

Talbots shares are trading higher by over two percent Wednesday morning.

The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200909TLB090909&mv=1. 

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Company: Talbots, Inc. (THE) (TLB)


Related terms: earnings, japan, sales, video

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