Talbots earnings slide; J. Jill acquisition cited

Clothing retailer Talbots Inc. reported a second-quarter loss on Wednesday versus a year-ago profit, due in part to charges related to its acquisition of catalog retailer J. Jill Group.

For the quarter ended July 29, losses totaled $3.9 million, or 7 cents per share, compared with prior-year profit of $18.9 million, or 35 cents per share.

Revenue rose to $571.4 million from $449.6 million last year.

Excluding acquisition costs of 14 cents per share and stock option expense of 3 cents per share, Talbots reported a profit of 10 cents per share in the latest period. Talbots completed its $517 million acquisition of J. Jill in May.

Sales in stores open at least one year -- a closely watched performance gauge called same-store sales -- rose 1.3 percent.

Talbots, which is based in Hingham, forecast second-half earnings between 50 cents and 55 cents per share, or 80 cents to 86 cents per share excluding acquisition and stock option costs. Second-half same-store sales are expected to rise in the low single-digit range. (AP)