"We are looking ahead to the second half of the year with optimism. For the Talbots brand, we are hopeful for continued momentum in our selling trends as we enter the fall season, driven by three key initiatives: a broader selection of styles, a better balance of entry-level priced merchandise, and strategic adjustments to our product flow in the third quarter. We are excited about our new merchandise assortments and believe we are on the right track to deliver stronger sales and earnings in the back half."
"As for our newly acquired J Jill brand, we will continue with our initiatives to stabilize long term performance. This includes better execution of the retail and direct businesses, such as the unification of the J Jill promotional calendar and sharper pricing across key product categories. In addition, as we get deeper into the fall season, we feel that our merchandise is more versatile and brand appropriate, offering our customer a sophisticated, feminine color palette and a more flattering fit."
"As previously stated, we continue to expect a positive low single digit comparable store sales increase for the combined company in the second half, which would yield earnings per share on a GAAP basis approximately in the range of $0.50 - $0.55."
"In closing, we remain committed to building shareholder value. We are pleased with the progress we have made in effectively integrating J Jill and are focused on delivering stronger top and bottomline results, beginning with the fall season," concluded Zetcher.
The Talbots Inc is a leading international specialty retailer and cataloger of women's, children's and men's apparel, shoes and accessories.
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