The Talbots Inc. managed to cut the cost of downsizing, prompting higher year-end guidance and a dramatic increase in its stock price.
Shares jumped 28.2 percent in trading Wednesday despite a wider second-quarter loss. Shares of Talbots closed at $12.82, up $2.82, in trading on the New York Stock Exchange.
The company said it now expects earnings per share of between 15 cents and 25 cents, versus its previous forecast of a loss per share of as much as 17 cents. The loss in fiscal 2007 was $3.56 a share.
The change is due to lower-than-expected costs for the closure of its men’s, kids’ and U.K. operations. The shutdown costs are expected to come in...
Talbots, Charming Shoppes Report Losses
Talbots, Charming Shoppes Report Losses
by
Posted Wednesday August 27, 2008
Last Edited Thursday August 28, 2008
From WWD Issue 08/28/2008
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