I just read an article on Time.com . The article was about Talbots. Talbots is a clothes store that I, ahem, am quite familiar with. When I need something that looks nice and will last a long time, hence- “Classic”, I will head to Talbots. Besides Talbots, if I want something cute, I will often head to JJill, who is owned by Talbots. But, like many women, I know that like Campbells Chicken Noodle soup, Talbots will always be there when I need it to be.
Unfortuatly, for Talbots, you don’t need to buy classic styled clothing every day, Especially, when it made well. Compile that with a recession and you have business problems. Recently, Talbots ended their not so shining stars- men’s and children’s lines.
Talbots Inc. chief executive Trudy Sullivan wants you to know is that the rumors aren’t true.
Rumors? E-mails circulating on the Internet about investor gossip say that Talbots is going under. CEO Sullivan promises, will outlast the economic blight that has claimed so many other merchants.
Sullivan’s survival plan: Focus on what made the company successful as a classy women’s clothing chain. Since taking over as chief executive, she has shed the men’s and kids’ divisions, shuttered its stores in Britain, and attempted to unload casual clothing retailer J. Jill, just two years after Talbots bought the merchant.
They say that Talbots was badly in need of a makeover even before the recession because of uninspired clothes, dwindling ranks of customers, and poor inventory management, according to retail analysts. The stores didn’t coordinate with the catalog and Internet businesses, and the men’s and children’s divisions had been losing money for years.
Talbots has about $426.5 million in debt, more than half from its takeover of J. Jill in 2006.
The company says its loyal following is made up of women 35 years old and older
Over the past year, Talbots has also revamped inventory management, redesigned the chain’s 594 shops every 10 weeks instead of twice a year, and marked down merchandise monthly rather than just four times a year.
I use to like shopping at Talbots a lot. They had some great sales and their clothes were nicely made. Where else could you get Italian leather shoes for under $100. I will admit though that I have shopped there less as I have noticed at lessening of their quality. Shoes are no longer made in Italy and really, who needs another turtleneck? I also changed and I have a kid in college. Now I am wearing clothes from stores like Kohl’s.
Will Talbots be able to provide “classic” quality and survive this recession or is it time for all of us to move on?
Talbots will always be known for those red doors if anything.