Talbots Releases Financial Results
Hingham, Mass., The Talbots, Inc., announced Wednesday its results for the 14-week and 53-week periods ended Feb. 3, 2007, compared to the 13-week and 52-week periods ended Jan. 28, 2006.
J. Jill posted a 4Q loss and the Talbots brand posted a 4Q profit. Total consolidated company sales in the fourth quarter were $638 million, with retail store sales increasing from $414 million to $433 million for Talbots. J. Jill posted fourth-quarter sales of $91 million.
Total comp-store sales declined 1.6% for the 13-week period ended Jan. 27, 2007, compared to the 13-week period ended Jan. 28, 2006. By brand, comp-store sales for Talbots decreased 2.1%. For the J. Jill brand, comp-store sales increased 1.5% for the period.
For the full year ending Feb. 3, 2007, total consolidated company sales were $2,231 million; by brand, retail store sales increased to $1,604 million for Talbots compared to $1,544 million last year, and were $242 million for J. Jill from the date of acquisition. Total comp-store sales rose 1.7% compared to the 52-week period ended Jan. 28, 2006. By brand, comp-store sales for Talbots increased 1.3%. For J. Jill, comp-store sales decreased 4.4% since the date of acquisition.
Circuit City Named World Cyber Games’ Official Retailer
New York City, International Cyber Marketing USA announced Tuesday that Circuit City Stores has been named the official entertainment, electronics and video game retailer for the World Cyber Games USA Championship Series, which includes the WCG US Open, WCG USA regional competitions, USA National Final and the WCG 2007 Grand Final in Seattle.
As a “premier partner” over the next three years, Circuit City will receive official designations, event signage, event and online advertising and brand exposure, according to Michael Arzt, senior VP and general manager of International Cyber Marketing USA, and Peter Weedfald, senior VP and chief marketing officer for Circuit City.
The World Cyber Games is the recognized blue chip leader in international video game competitions.
Cost-U-Less and Shareholders Reach Agreement
Bellevue, Wash., Cost-U-Less announced Tuesday that it has reached agreement with two shareholder groups to nominate and support John Delafield to the company’s board of directors. Cost-U-Less entered into separate letter agreements with Delafield Hambrecht, Inc., and its affiliates, and with Chadwick Capital Management and its affiliates, in which the company will support Delafield in his board bid at the 2007 annual meeting of shareholders and will submit a proposal to shareholders at the 2007 annual meeting to amend the Cost-U-Less articles of incorporation to remove the requirement that a business combination be approved by holders of at least 2/3 of the outstanding common stock under certain circumstances.
In return, the two shareholder groups agreed that through the end of 2007 they would support the slate of directors nominated by the Cost-U-Less board of directors, wouldn’t nominate any candidates or propose any other business at an annual meeting, nor present any proposals for inclusion in the Cost-U-Less proxy statement or conduct any proxy solicitations.