The Talbots Inc announced results for the third quarter ended October 28, 2006. Net income in the third quarter was $8.1 million or $0.15 per share on a reported basis and includes acquisition related costs and adjustments of approximately $0.16 per share and $0.04 per share of stock option expense.
Excluding these acquisition related costs and stock option expense, earnings per diluted share were $0.35 for the combined company, compared to the $0.37 reported last year for the Talbots only brand.
Total consolidated Company sales for the quarter were $569 million. By brand, retail store sales increased to $383 million for Talbots compared to $363 million last year, and were $77 million for J. Jill. Consolidated direct marketing sales for the thirteen-week period were $109 million, including catalog and Internet.
Sales for the J. Jill brand represent approximately 20 percent of the total combined company sales volume.
Total Company comparable store sales rose 2.3 percent for the third quarter. By brand, comparable store sales for Talbots increased 4.0 percent and were negative 6.6 percent for the J. Jill brand.
Operating Results for the Thirty-Nine-Week Period Total Company operating performance for the 39-week period ending October 28, 2006 includes J. Jill brand results for the period beginning May 3, 2006, which was the effective date of the acquisition.
For the 39-week period, total consolidated Company net income was $31.6 million or $0.59 per diluted share on a reported basis and includes acquisition related costs and adjustments of approximately $0.31 per share and $0.11 per share of stock option expense.
marketing@alchempro.com
