Talbots (TLB) was one of the markets biggest losers today, shedding another 8.5% after previously losing 21% since January 10. They continue to take a pounding since announcing a dramatic change in their guidance on January 11. Their credibility also has taken a beating, and investors are continuing to run out the door almost as fast as their customers.
For those of you not familiar with Talbots, which is probably most of the men reading this, they are a specialty retailer that focuses on women with nearly 600 stores throughout the U.S. and Canada. Think Ann Taylor, only for the more mature set. If you don’t what Ann Taylor (ANN) is, think of a ladies only version of J. Crew (JCG) for adults.
Talbots has made a habit of pre-announcing bad news before the quarter has ended. Their January 11 announcement was no exception. They had earlier guided to a 5 cent loss, but came out on the 11th with a new $0.15 to $0.19 loss Q4 announcement. Holiday shopping season wasn’t up to snuff for them, despite price cutbacks. This apparently came as a surprise since they had earlier said sales were looking good through Thanksgiving and Black Friday. In the announcement, they also lowered their full year 2011 EPS guidance to
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