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.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)