By and  on April 14, 2009

The Talbots Inc. on Monday posted sharp fourth-quarter declines, including a net loss of $366.5 million and a comp-store sales drop of 24.6 percent.


 While the figures indicate turnaround efforts still have a long way to go, the retailer was able to soften the bad news somewhat by revealing progress on several fronts, including signing a nonbinding letter of intent with Li & Fung Ltd. to possibly become Talbots’ primary global sourcing agent. Talbots works with other sourcing companies and has its own sourcing arm, but a pact with Li & Fung would streamline sourcing efforts and free up the retailer to concentrate more on product design.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus