New York City, Talbots Inc. on Wednesday forecast a loss for its third and fourth quarters, citing weaker-than-expected sales and tight consumer spending.
Talbots said it now expects that same-store sales will fall in mid- to high-single-digits in the six-month period that ends Feb. 2, 2008. Total company sales would fall by about $65 million to $75 million from its previous plan, Talbots said.
"...We remain very cautious in our fourth-quarter outlook, given the continued uncertainty of the economic environment and our difficult earlier trends," CEO Trudy Sullivan said in a statement.
The company, which has suffered fashion missteps and weak sales for some time, has already announced a strategic review of its business in a bid to drive profit growth.