"We are delighted with our integration progress to date, during which we have been able to develop a more intimate understanding of the growth potential for J. Jill. As previously stated, we expect this acquisition to be accretive to earnings in fiscal 2007 with synergies and after acquisition-related costs, and we will provide additional details regarding sales and earnings expectations for fiscal 2007 when we are further into the fall season."
"We are optimistic about the future and our long term growth opportunities, as we have a strong management team and initiatives in place to drive improved performance of both brands. This is clearly an exciting time for Talbots Inc., and we are confident that we will continue to deliver enhanced shareholder value as we create the leading brand portfolio for the age 35+ female market," concluded Mr. Zetcher.
Additional Disclosures The Company today will file a Form 8-K/A, reflecting the combination of J. Jill and Talbots on a proforma basis for certain periods. This Form 8-K/A will also reflect specific preliminary acquisition related and purchase accounting adjustments as they pertain to the merger acquisition of J. Jill.
The Talbots Inc is a leading international specialty retailer and cataloger of women's, children's and men's apparel, shoes and accessories. The Company currently operates a total of 1,297 stores in 47 states, the District of Columbia, Canada and the U.K., with 1,087 stores under the Talbots brand name and 210 stores under the J. Jill brand name.
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