Talbots to Sell J. Jill
Hingham, Mass. Talbots Inc. said Thursday that it plans to sell its J. Jill brand and concentrate on its namesake brand due to current economic conditions.
The company also said it pulled its forecast for the second half of fiscal 2008 due to the planned sale.
Earlier Thursday, Talbots said that its fiscal third-quarter same-store sales fell 13.9%, hurt by declining customer traffic.
“In light of the current macroeconomic environment, we therefore feel it is a strong move to focus solely on executing the successful turnaround of our core brand. While we have made solid progress in improving the J. Jill brand’s operation, we have made the strategic decision to pursue its sale,” chief executive Trudy F. Sullivan said in a statement.
The company said J. Jill will fall under discontinued operations for the fiscal third quarter and all prior periods. Talbots added that Talbots Kids, Mens and U.K. operations closed during the third quarter and will also be listed as discontinued operations.
Report: Target launches new fashion program
NEW YORK According to reports, Target is launching a new fashion program, Target Designer Collaborations, with an apparel line by Alexander McQueen.
The McQueen collection, called McQ Alexander McQueen for Target will be available in stores next spring.
Target’s fashion push comes shortly after the company announced that it would limit store openings and would consider a proposal for the spin-off of its real estate business.
Fresh & Easy to open stores in Bakersfield, Calif.
BAKERSFIELD, Calif. Fresh & Easy Neighborhood Market announced it will open its first two stores in Bakersfield, Calif. on Dec. 3. Fresh & Easy currently has five announced locations in Kern County.
“At Fresh & Easy, we offer fantastic products at incredible prices so you don’t have to compromise on what you feed your family,” said Fresh & Easy ceo Tim Mason. “We look forward to bringing great jobs and quality, affordable food to neighborhoods in Kern County.”