Specialty stores such as The Limited, Ann Taylor, Jil Sander and Talbots attracted an additional 14.8%.
FORBES: What it Takes to Capture and Keep Loyal Consumers: Part I
In specialty apparel, AnnTaylor and Talbots struggled unsuccessfully to get their core customers back.
Bigger brands like Gap, Talbots and Blockbuster are closing between 12% and 23% of their stores.
FORBES: Best Buy Struggles, But Other Chains Have It Far Worse
Consumers did not return to Talbots stores this December, however, the company said today when it released its sales numbers.
Talbots said it will close 110 stores through fiscal 2013 and slash 9% of its corporate headcount as part of turnaround efforts.
FORBES: Retail Earnings & Sales: Talbots, Lululemon, Limited Brands, Gap
Talbots ( NYSE:TLB) announced earnings on Friday and the stock fell -39%.
FORBES: When Stocks Announce on the Friday before Memorial Day
Talbots follows other major retailers like Limited Brands, Macy's and Saks Fifth Avenue that reported flat or better same-store sales for the third quarter.
With Talbots, the earnings would actually beat the estimates, but the company coincidentally had bad news at the same time as the earnings announcement.
FORBES: When Stocks Announce on the Friday before Memorial Day
For some academics, Talbots could create an interesting case study with regards to investor relations and the timing of an earnings announcement with bad news.
FORBES: When Stocks Announce on the Friday before Memorial Day
Notice, in the past, Talbots would announce on Wednesday or Tuesday.
FORBES: When Stocks Announce on the Friday before Memorial Day
It is clear that we are witnessing a turnaround at Talbots, and this stronger report may warrant an upgrade to Fairly Valued in the coming weeks.
FORBES: Talbots' Turnaround On Track, Stock Still A Bit Plump
Among the largest underlying components of XRT, in trading today Talbots Incorporated ( TLB) is up about 4.1%, and OfficeMax ( OMX) is higher by about 2.5%.
Talbots, the women's clothing brand with stores in the U.S. and Canada, reported heavy declines in store sales and increased inventories in its third quarter earnings on Tuesday.
Among the largest underlying components of XRT, in trading today Talbots Incorporated ( TLB) is down about 3.1%, and Genesco Incorporated ( GCO) is up by about 1.7%.
Just look at the some of the clothing retailers, like the Gap or Talbots, and how their margins have been squeezed recently by increasing costs in wages, energy and raw materials.
Talbots announced on the Friday before the long weekend.
FORBES: When Stocks Announce on the Friday before Memorial Day
But, what was odd with the Talbots announcement?
FORBES: When Stocks Announce on the Friday before Memorial Day
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