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.

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