Talbots reports 2Q loss

HINGHAM, Mass. Talbots reported that on GAAP basis, net loss for the second quarter was $25 million or 47 cents per share, compared to reported net loss of $13.3 million or 25 cents per share for the second quarter ended Aug. 4, 2007.

Total consolidated company sales for the second quarter were $528 million. By brand, retail store sales were $352 million for Talbots compared to $392 million last year, and $74 million for J. Jill compared to $80 million last year.

Total company comparable store sales declined 12% for the 13-week period. By brand, comparable-store sales for Talbots and J. Jill decreased 11.7% and 13.2% respectively.

The company is planning for consolidated comparable store sales for the full fall season to be in the range of flat to slightly negative compared to last year, with the Talbots brand approximately flat and the J. Jill brand down low to mid single digits.

The company has reconfirmed its previously announced outlook for fiscal 2008 earnings from ongoing core operations, excluding Talbots Kids, Mens and U.K. operating results and close down costs, to be approximately in the range of 47 cents to 52 cents per diluted share.

The company is planning for a net loss from non core operations in the range of approximately 27 cents to 32 cents per share.