Talbots Fumbles

Talbots (TLB) announced Q3 results. Margins improved that’s good. Sales are down that’s bad. The big guy  Trudy F. Sullivan, Talbots President and Chief Executive Officer, said, “…. Importantly, during the quarter, we launched our segmentation strategy and store re-image program in addition to our enhanced marketing campaign. All of these key initiatives are designed to generate sales growth and productivity gains over time.”

No real comment about merchandising issues. Sales dropped and that’s it for discussion and analysis. What lines are selling? What regions are doing well? Same store sales? It’s very hard to get your arms around this story. Productivity gains over time are not concrete.