The Talbots Inc announced results for the fourteen-week and fifty-three week periods ended February 3, 2007, compared to the thirteen-week and fifty-two week periods ended January 28, 2006.
Net income for the fourth quarter was breakeven per diluted share on a reported basis and includes acquisition related costs and adjustments of approximately $0.15 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 $0.19 for the combined company.
This combined Company result includes a fourth quarter loss for the J. Jill brand of $0.07 per share, and a fourth quarter profit for the Talbots brand of $0.26 per share, compared to $0.37 reported last year for the Talbots only brand.
Total consolidated Company sales in the fourth quarter were $638 million. By brand, retail store sales increased to $433 million for Talbots compared to $414 million last year, and were $91 million for J. Jill. Consolidated direct marketing sales were $114 million including catalog and Internet.
Total Company comparable store sales declined 1.6% for the thirteen-week period ended January 27, 2007 compared to the thirteen-week period ended January 28, 2006. By brand, comparable store sales for Talbots decreased 2.1%. For the J. Jill brand, comparable store sales increased 1.5% in the period.
Arnold B. Zetcher, Chairman, President and Chief Executive Officer, commented,"Our consolidated fourth quarter results were in line with our previously revised expectations, and that of the First Call consensus estimate; however, we were still disappointed in the Company's performance during this period."
marketing@alchempro.com
