Talbots Inc has announced total company sales for the thirteen weeks ended July 29, 2006 of $571.4 million.
By brand, retail sales were $403.7 million for Talbots compared to $388.8 million last year, and $73.1 million for J Jill, which was acquired effective May 3, 2006. Sales for the J Jill brand represent approx. 20% of the total combined company sales volume.
Total company comparable store sales rose 1.3% for the thirteen-week period. By brand, comparable store sales for Talbots increased 3.0%. This was driven by particularly strong selling throughout June and July, which grew a healthy 6.5% in comp sales for the combined two month period. J Jill's comparable store sales declined 8.2% in the second quarter, below company expectations.
Consolidated direct marketing sales for the thirteen-week period were $94.6 million, including catalog and Internet. For the Talbots brand, direct marketing sales for the June and July combined period were also quite strong, increasing low double digits, while the J Jill direct business continued to be difficult.
The company reconfirmed its previously announced outlook for second quarter loss per diluted share to be in the range of ($0.10) - ($0.08) on a GAAP basis. This range of loss per share includes acquisition related costs and adjustments of approx. $0.18 per share.
Excluding the estimate for costs and adjustments, earnings per diluted share would be in the range of positive $0.08 to $0.10 per share. Further, earnings per diluted share excluding approx. $0.03 in stock option expense for the period would be in the range of positive $0.11 to $0.13 per share for the combined company, compared to $0.35 reported last year for the Talbots only brand.
marketing@alchempro.com
