In its second-largest acquisition, Amazon buys the company for $970 million.
E-commerce grew year over year 20.6% while same-store sales fell 7.1%.
Total sales and comparable-store sales sagged for specialty clothing retailer The Talbots Inc. in the third quarter, but the web and direct sales grew.
For the third quarter ended Oct. 30, Talbots, No. 107 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased 20.6% to $38.0 million from $31.5 million in the third quarter of 2009.
- Total sales decreased year over year 3.2% to $299.1 million from $308.9 million.
- Comparable-store sales declined 7.1%.
- Direct sales, which include catalog and Internet, grew 6.5% to $57.0 million from $53.5 million.
- Net income rose year over year 3.7% to $17.0 million from $16.4 million.
“Our customer traffic and sales demand from Thanksgiving through Cyber Monday improved greatly, however, we believe the challenging and promotional environment will continue,” says CEO Trudy Sullivan. “To that end, we will stay nimble and have appropriately enhanced our promotional activity to best position ourselves for the remainder of this holiday season, effectively managing our inventory.”
Internet Retailer calculates the web accounted for 12.7% of total sales compared with 10.2% in the third quarter of 2009.
For the first three quarters, Talbots reported:
- Internet sales increased 16.8% to $118.7 million from $101.6 million in the first three quarters of 2009.
- Total sales increased year over year 0.1% to $920.5 million from $919.7 million.
- Comparable-store sales declined 2.1%.
- Direct sales, which include catalog and Internet, grew 11% to $169.9 million from $153 million.
- Net income was $13.6 million compared to a net loss of $33.5 million in the first three quarters of 2009.
Internet Retailer calculates the web accounted for 12.9% of total sales compared with 11% in the first three quarters of 2009.