Talbots Posts Quarterly Loss
Hingham, Mass. Talbots reported Wednesday a net loss of $171 million for the fourth quarter ended Feb. 2, 2008. Meanwhile, fourth-quarter sales totaled $587 million, compared to $638 million for the 14 weeks ended Feb. 3, 2007.
By brand, retail store sales for Talbots hit $388 million, compared to $433 million for the same period a year ago. J. Jill reported $86 million in sales, compared to $91 million last year. Last month, the retailer said it would cut spending, open fewer new stores and close 100 underperforming stores this year. These remediations are in addition to Talbots’ plan to reduce costs and revamp its merchandise.
Blue Nile cfo steps down
SEATTLE Blue Nile has announced that Robin Easton has resigned from the role of cfo to pursue other interests, effective March 31. The company said it has begun a search to fill the cfo position.
Upon Easton’s resignation, Terri Maupin, the company’s vp of finance and controller, will assume the duties of the principal financial and accounting officer. Maupin has served as the company’s vp of finance since July 2004 and controller since September 2003. Prior to Blue Nile, Maupin served as the staff vp of finance and controller at Alaska Air Group.
MGP Ingredients ceo resigns
ATCHISON, Kan. Ladd Seaberg has announced that he is stepping down as ceo of MGP Ingredients, effective immediately. Seaberg will continue to serve as chairman of the board of directors. He is being succeeded as ceo by MGPI President Tim Newkirk, who has also served as coo of the company since May 2006.
“I am very comfortable with the timing of this transition from my role as ceo, and have the utmost confidence in Tim Newkirk’s abilities to lead our company forward,” Seaberg said.
Seaberg became chairman of MGPI’s board in October 2006, succeeding Cloud Cray, who had held the post for 26 years. He has served as ceo of the company since 1988.