Talbots income up, sales down

HINGHAM, Mass. Talbots reported adjusted third-quarter net income from continuing operations of $17.2 million or 31 cents per diluted share, excluding restructuring and impairment charges, compared with last year’s net loss of $12.4 million or 23 cents per share on a comparable basis.

Total sales from continuing operations for the third quarter were slightly better than company expectations and were $308.9 million compared to last year’s sales of $357.3 million, Talbots reported.  Comparable-store sales declined 15.9% for the thirteen-week period.

For the fourth fiscal quarter of 2009, the company currently anticipates a loss from continuing operations in the range of 6 cents to 14 cents per share, excluding restructuring and impairment charges and other special items. This anticipated result is based on a top-line sales decline planned to be in the range of approximately 6% to 8%. Talbots expects fourth-quarter top-line sales to be impacted by reduced levels of markdown merchandise.