In its second-largest acquisition, Amazon buys the company for $970 million.
E-commerce grew for Talbots in the second quarter, but only 3.2%.
Only one channel—the web—grew for specialty apparel retailer The Talbots Inc. in the second quarter. And it didn’t grow by much. For the second quarter ended July 31, Talbots, No. 107 in the Internet Retailer Top 500 Guide, reported:
- A slight increase in web sales of 3.2% to $38.7 million from $37.5 million in the second quarter of 2009.
- Total sales declined year over year 1.3% to $300.7 million from $304.6 million.
- Store sales declined 1.6% to $250.8 million from $254.9 million in Q2 of 2009.
- Comparable-store sales declined 1.4%.
- Net income was $941,000 compared with a net loss of $24.5 million in the prior year.
"Our second quarter and year-to-date results demonstrate the steady progress we are making as a result of our strategic initiatives," says CEO Trudy F. Sullivan.
Internet Retailer calculates the web accounted for 12.9% of total sales compared with 12.3% in the second quarter of 2009.
For the first two quarters:
- Internet sales increased 15.1% to $80.7 million from $70.1 million in the first two quarters of 2009.
- Total sales grew year over year 1.7% to $621.4 million from $610.8 million.
- Store sales declined 0.5% to $508.4 million from $511.2 million in the first two quarters of 2009
- Comparable-store sales grew 0.5%.
- Net loss was $3.4 million compared with a net loss $48.1 million in the prior year.
Internet Retailer calculates the web accounted for 13.0% of total sales compared with 11.5% in the first two quarters of 2009.