Talbots EPS up 9%, sales climbs 8% to $446.5mn for 13-week period ended April'05
19 May '05
4 min read
"Regarding our store expansion plan, during the first quarter, we opened seven new stores, including three Woman stores, two Misses stores, one Petites store, and one Talbots Mens store. With two closings during the quarter, we ended the period with a total of 1,054 stores. Our plan is to open 50 new stores in 2005, which would bring us to approximately 1,088 stores at the end of the fiscal year."
"Looking at the second quarter, we have several marketing initiatives in place to help drive increased customer traffic and continued sales growth, including a broad based customer event.
In addition, our important semi-annual clearance sale is scheduled to begin at its traditional time in mid June. Although it is still early in the period, at this time we remain comfortable with second quarter earnings per diluted share in the range of $0.32, consistent with our previously stated outlook. This compares to the $0.28 earned last year on an operating basis and $0.34 on a reported basis, including the $0.06 tax benefit resulting from the favorable resolution of certain prior year income tax issues."
Mr. Zetcher concluded, "Overall, we are very pleased with our first quarter performance and the healthy selling trends we saw throughout the period. Going forward, with our well-received new assortments and appropriate levels of inventories, we believe we are very well positioned for a successful full spring season."
Talbots is a leading nationag trends we saw throughout the period. Going forward, with our well-received new assortments and appropriate levels of inventories, we believe we are very well positioned for a successful full spring season."
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