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This is from the Albuquerque business journal, but it's in the news other places...
http://www.bizjournals.com/albuquerque/ ... ily33.html
It's so sad. J.Jill has been my favorite clothing store for a long time. I hope their clothes don't change much, but I guess I think they will.
http://www.bizjournals.com/albuquerque/ ... ily33.html
Clothing retailer The Talbots Inc. plans to sell its J. Jill brand in the face of double-digit sales declines in its fiscal 2008 third quarter.
The Hingham, Mass.-based company (NYSE: TLB) said it would continue to focus on reenergizing its Talbots brand, and that selling J. Jill will help it accomplish that goal in light of the declining economy. Talbots, during the third quarter, completed the closure of its Talbots Kids, Men’s and United Kingdom stores in order to focus on Talbots and its collections for women.
“We .... feel it is a strong move to focus solely on executing the successful turnaround of our core brand,” Talbots President and CEO Trudy Sullivan said in a statement.
Talbots reported $357 million in total sales for the quarter ending Nov. 1, compared to $414 million in sales over the same period last year. Retail store sales reached $303 million, down from $345 million in the fiscal 2007 third quarter.
The company said comparable store sales for its Talbots brand dropped 13.9 percent over the quarter, and 10.9 percent for the year to date.
Sullivan blamed the sales declines on the economic crisis, but said customers have been responding positively to Talbots’ reorganization.
Talbots said it would issue further details about selling J. Jill when its third quarter operating results come out on Nov. 25. Otherwise, no further updates will be discussed until the brand is sold.
Talbots Inc operates 876 stores in 47 states, the District of Columbia and Canada. Of that number, 282 locations, including one in Albuquerque, carry the J. Jill brand name.
Boston Business Journal
The Hingham, Mass.-based company (NYSE: TLB) said it would continue to focus on reenergizing its Talbots brand, and that selling J. Jill will help it accomplish that goal in light of the declining economy. Talbots, during the third quarter, completed the closure of its Talbots Kids, Men’s and United Kingdom stores in order to focus on Talbots and its collections for women.
“We .... feel it is a strong move to focus solely on executing the successful turnaround of our core brand,” Talbots President and CEO Trudy Sullivan said in a statement.
Talbots reported $357 million in total sales for the quarter ending Nov. 1, compared to $414 million in sales over the same period last year. Retail store sales reached $303 million, down from $345 million in the fiscal 2007 third quarter.
The company said comparable store sales for its Talbots brand dropped 13.9 percent over the quarter, and 10.9 percent for the year to date.
Sullivan blamed the sales declines on the economic crisis, but said customers have been responding positively to Talbots’ reorganization.
Talbots said it would issue further details about selling J. Jill when its third quarter operating results come out on Nov. 25. Otherwise, no further updates will be discussed until the brand is sold.
Talbots Inc operates 876 stores in 47 states, the District of Columbia and Canada. Of that number, 282 locations, including one in Albuquerque, carry the J. Jill brand name.
Boston Business Journal
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