Talbots
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| Type | Public |
|---|---|
| Traded as | NYSE: TLB |
| Industry | Fashion |
| Founded | Hingham, Massachusetts(1947) |
| Headquarters | Hingham, Massachusetts, United States |
| Number of locations | 568 (April 2011)[1] |
| Key people | Trudy F. Sullivan (CEO) Mike Scarpa (COO, CFO) Michael Smaldone (CCO) |
| Employees | 10,000 |
| Website | [1] - Shopping TalbotsInc.com– corporate/investor information |
Talbots is a retailer and direct marketer of women’s classic clothing, shoes and accessories. Established in 1947, the company sells items such as the blazer, trench, white shirt, ballet flats, and pearls.
In June 2009 the company announced the sale of the J. Jill brand business to Golden Gate Capital, which it had acquired in 2006. In August the company announced it had entered an agreement with Li & Fung to become the exclusive global sourcing agent for Talbots brand apparel.
At the end of fiscal 2009 the company operated 580 Talbots brand stores in 46 states, the District of Columbia, and Canada. The company's retail operation comprises approximately 85 percent of its overall business, with catalog and Internet sharing the balance. Online sales represent more than 60 percent of the direct business.
Talbots employs approximately 10,000 workers throughout the U.S. and Canada.
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[edit] History
In 1947 the husband and wife team of Rudolf and Nancy Talbot opened their first shop in Hingham, Massachusetts, United States, a town not far from Boston. In 1948, Rudy and Nancy launched their direct mail business by distributing 3,000 black-and-white fliers to names obtained from The New Yorker magazine. Their retail and catalog enterprise flourished[citation needed] and, with five stores in upscale outskirts like Hingham, Duxbury and Lenox, they sold the company to General Mills in 1973. Expansion ensued up and down the East Coast, but when General Mills divested its Specialty Retail Division in 1988, Talbots was acquired by JUSCO Co Ltd. (now ÆON Co Ltd.). Talbots has been a public company since 1993 and is traded on the New York Stock Exchange under the symbol TLB.
[edit] Core business
The company’s core business encompasses its signature Talbots (Misses) line, as well as Talbots Petites, Talbots Woman, and Woman’s Petites. The company also offers fashion accessories and shoes.
Additionally, Talbots operates upscale outlet and clearance stores, introduced in 2009, offering Talbots merchandise at reduced prices. In 2011, Talbots plans to open 25 additional upscale outlet locations bringing the store count to over 50. These locations are approximately 4,500 square feet (420 m2) and are located in outlet centers across the country.
[edit] Retail stores
Locations vary in size but occupy approximately 4,000 square feet (370 m2) on average.
[edit] Catalog
The company distributed 19 Talbots brand catalogs in 2009 reaching a worldwide circulation of over 36 million.
[edit] Web
With an established fulfillment and distribution system in place, Talbots entered the world of e-commerce in 1999. Its website offers a number of services, including: MyTalbots, which allows customers to register for benefits and customize their online shopping experience; Style by Design appointment shopping; Pearls of Wisdom, offering fashion advice and customers’ style stories; and a Find in Store feature, which enables customers to locate and reserve merchandise in any Talbots store.
[edit] Talbots Scholarship Foundation
Since its inception in 1997, the Talbots Scholarship Foundation has awarded over $1 million to deserving women ranging in age from their late 20s to 60s.[citation needed]. The program awarded $180,000 in college scholarships for the 2010 academic year, including 10 $15,000 scholarships and one $30,000 Nancy Talbot Scholarship Award, presented in memory of the founder of Talbots. The award is presented to the finalist demonstrating "courage, conviction and an insatiable entrepreneurial spirit".[citation needed]
[edit] Associate Award of Excellence
The Talbots Charitable Foundation offers a scholarship program for the children of Talbots associates. Ten scholarships are being awarded for the 2010 academic year, including nine $2,000 awards and one $5,000 Award of Distinction.
Both the Talbots Scholarship Foundation and Associate Award of Excellence are sponsored by the Talbots Charitable Foundation and administered by Scholarship America. The Scholarship Foundation is funded in part through the sale of a rose-print scarf inscribed with three words of inspiration, “Grace, Wisdom, Confidence.[citation needed]
[edit] References
[edit] External links
- Talbots.com Shopping
- TalbotsInc.com Corporate/investor information
