Talbots Inc. (TLB) reported that its third-quarter net income was $14.55 million or $0.26 per share, compared to a loss of $170.76 million or $3.19 per share in the same quarter last year.
Adjusted third quarter net income from continuing operations was $17.2 million or $0.31 per share, compared to last year's net loss of $12.4 million or $0.23 per share on a comparable basis.
Total sales from continuing operations were $308.9 million , compared to $357.3 million last year. Comparable store sales declined 15.9% for the thirteen week period.
For the fourth fiscal quarter of 2009, the Company currently anticipates a loss from continuing operations in the range of $0.06 to $0.14 per share, excluding restructuring and impairment charges and other special items. Talbots expects fourth quarter top line sales to be impacted by reduced levels of markdown merchandise.
In a separate press release issued, the Company also said it is undertaking a comprehensive financing solution to delever its balance sheet and accelerate growth. It consists of three related transactions: an Agreement and Plan of Merger between Talbots and BPW Acquisition Corp. pursuant to which Talbots will acquire BPW in exchange for Talbots common stock; the retirement of all equity currently held by Talbots majority stockholder, Aeon (U.S.A.), Inc., and the repayment of all of the Company's existing debt and a commitment for a new $200 million senior secured revolving credit facility from GE Capital.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.