Talbots announces strategic brand review
Talbots Inc. new chief executive said today that the Hingham-based retailer of women's clothing has hired a "leading global consulting firm" to assist management in a "strategic review of the company with a focus on brand positioning."
In its release, Talbots did not identify the consulting firm, but added that the consulting engagement is expected to be completed by the first quarter of fiscal 2008.
Trudy F. Sullivan took over as Talbots president and chief executive in early August.
Sullivan said in a statement: "The decision to evaluate the positioning of our brands in the marketplace is one of the most important initiatives that our team is undertaking. Talbots remains a strong brand that resonates powerfully with our customers, the insights derived from these efforts will help us build on that strength and keep our brand relevant, fresh, and consistent."
Talbots operates roughly 1,400 stores, including 257 under the J. Jill brand name.
In September, Talbots announced plans to conduct a competitive review of advertising agencies for its Talbots brand advertising account.
Citing disappointing sales and higher markdowns, Talbots reported in August a second-quarter loss of $13.3 million, compared with a loss of $3.9 million for the same quarter a year earlier; at stores open at least a year, second-quarter sales fell 4.8 percent.
At that time, Talbots said its second-quarter performance partly reflected "a weak customer response to our spring and summer assortments."
(By Chris Reidy, Globe staff)
