Talbots posts 3Q loss

HINGHAM, Mass. Talbots announced that third quarter net loss from continuing operations was $14.8 million or 28 cents per diluted share compared to last year’s net loss of $0.9 million or 2 cents per share on a comparable basis.

Trudy Sullivan, president and ceo of The Talbots Inc., commented, “Our third quarter results reflect the impact of the deteriorating macro-economic conditions that started in mid-September. While we have had positive customer response to our reinvigorated Talbots brand merchandise and marketing efforts, this was not enough to offset a steep decline in consumer traffic and spending that we and most others across our entire industry have experienced.

Total sales from continuing operations for the thirteen weeks ended November 1, 2008 were $357 million, versus last year’s sales of $414 million. Retail store sales were $303 million compared to $345 million last year.

Comparable-store sales declined 13.9% for the thirteen-week period.