Talbots to Close 110 Stores
Hingham, Mass.-based Talbots expects to close approximately 110 locations and focus on store reimaging through fiscal 2013. In fiscal 2011, the company refreshed and reimaged approximately 70 locations, including consolidations and downsizings. The company also closed 82 locations, including 69 full-line stores, during fiscal 2011. As announced in December 2011, Talbots’ board of directors is exploring a full range of strategic alternatives. Pending that evaluation, the company will continue to pursue its long-range plan to invest in key strategic initiatives, specifically the expansion of its upscale outlet business and store reimaging initiative.