Talbots outlines strategic growth plan

HINGHAM, Mass. Talbots has announced a strategic long-term growth plan designed to streamline its operations, control costs and inventories, innovate its marketing programs and implement more efficient processes across all business functions. The company has also identified five key growth areas upon which to build its business going forward.

The five growth areas include building its Talbots brand by adding about 35 new stores over the next five years and launching a new boutique concept, increasing inventory levels for shoes and accessories, improving the Talbots collection, pursuing more premium outlet opportunities and improving performance at its J. Jill brand.

Commenting on the plan, Talbots president and ceo Trudy Sullivan said, “We are extremely pleased with the outcome of our strategic review and believe the process proved highly productive. The results validated the growth potential for both the Talbots and J. Jill brands, and we are now focused on strengthening those brands accordingly.”