This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

6 Retailers Banking on a New CEO in 2012


Yes, Talbots (TLB) was heading towards its downward spiral before Trudy Sullivan took the reins in mid-2007, but she now leaves the company in an even more precarious position than when she joined.

Sullivan, who previously held leadership roles at Liz Claiborne (LIZ)and J.Crew, announced her resignation from the women's apparel retailer earlier this month, just one day before the company said it received a buyout offer from private-equity firm Sycamore Capital. Talbots subsequently rejected the $205.2 million bid.

Ultimately, Sullivan was the wrong person for the job.

Like the rest of the women's apparel space, Talbots struggled with excess inventory and merchandise misses that didn't resonate with its increasingly frugal core shopper. But for the most part, rivals like Ann (ANN) and Chico's (CHS) have managed to get on a path toward recovery, while Talbots lagged.

In its third quarter, Talbots swung to a wider-than-expected loss due to deep discounts and promotions.

But despite Talbots reporting a loss in three of the last four years, Sullivan took home $6 million in 2010, double her pay from the year prior. She will also receive a $5 million severance package.

Talbots is currently searching for Sullivan's replacement, hiring executive search firm Spencer Stuart to conduct the search. Sullivan will remain at the company until it names her replacement.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
TLB $0.00 0.00%
AEO $16.92 0.00%
BONT $6.41 0.00%
AVP $7.90 0.00%
JCP $7.65 0.00%


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs