Talbots Posts Jump in Profit
The company reiterates its fourth-quarter earnings forecast.
Talbots
(TLB)
posted a jump in third-quarter earnings and reiterated its forecast for the fourth quarter.
The company earned $37.4 million, or 63 cents a share, compared with $36.6 million, or 58 cents a share, in the year-ago period.
Sales were $401.8 million, up 2% from last year's $393.3 million. The company said comparable-store sales decreased 3.2%. Retail-store sales increased 4%.
Recently, shares were up 1%, or 30 cents, at $29.05 on the
New York Stock Exchange
.
Looking to the fourth quarter, the Hingham, Mass.-based retailer expects to earn 48 cents to 53 cents a share, compared with 53 cents a share in the fourth quarter last year and on track with analysts' 50-cents-a-share forecast.
