EX-99.2 3 b87999exv99w2.htm EX-99.2 exv99w2
Exhibit 99.2
(TALBOTS LOGO)
TALBOTS ANNOUNCES CHIEF CREATIVE OFFICER CHANGE
     HINGHAM, MA, September 7, 2011 — The Talbots, Inc. (NYSE:TLB) today announced that Mr. Michael Smaldone, Chief Creative Officer, has departed the Company, effective immediately.
     Trudy F. Sullivan, Talbots President and Chief Executive Officer, commented, “While we have made progress in executing our brand vision and product design, customer acceptance needs to improve. Therefore, I have determined it is necessary for us to bring in new creative leadership. The creative process is a team effort, and we are confident in the ability of our strong bench of experienced and talented designers and merchants to continue to move forward during this transition period. We believe the action we have taken will enable us to strengthen the execution of our brand and merchandise initiatives going forward.”
     The Company has an active search for a replacement underway. Ms. Sullivan will assume the chief creative responsibilities while the search is completed. During the transition, the Company’s Senior Vice President of Design will report directly to Ms. Sullivan.
     “We thank Michael for his commitment and passion during his time at the Company,” concluded Ms. Sullivan.
     The Company also separately reported results for the quarter ended July 30, 2011 and commented on key initiatives and third quarter 2011. As previously announced, Talbots will host a conference call today September 7, 2011, at 10:00 a.m. local time to discuss second quarter 2011 results. Details regarding the call are included in the second quarter results release.
     The Talbots, Inc. is a leading specialty retailer and direct marketer of women’s apparel, shoes and accessories. At the end of the second quarter 2011, the Company operated 566 Talbots stores in 46 states and Canada. Talbots brand on-line shopping site is located at www.talbots.com.
     
CONTACT:
  The Talbots, Inc.
 
  Julie Lorigan
 
  Senior Vice President, Investor and Media Relations
 
  (781) 741-7775
 
   
 
  FD
 
  Leigh Parrish, Evan Goetz
 
  Investor and Media Relations
 
  (212) 850-5651, (212) 850-5639

 


 

Forward-looking Information
     This Press Release contains forward-looking information within the meaning of The Private Securities Litigation Reform Act of 1995. These statements may be identified by such forward-looking terminology as “expect,” “achieve,” “plan,” “look,” “projected,” “believe,” “anticipate,” “outlook,” “will,” “would,” “should,” “intend,” “potential” or similar statements or variations of such terms. All of the information concerning our future liquidity, future net sales, margins and other future financial performance and results, achievement of operating or financial plan or forecasts for future periods, sources and availability of credit and liquidity, future cash flows and cash needs, success and results of strategic initiatives and other future financial performance or financial position, as well as our assumptions underlying such information, constitute forward-looking information. Our forward-looking statements are based on a series of expectations, assumptions, estimates and projections about the Company, are not guarantees of future results or performance and involve substantial risks and uncertainty, including assumptions and projections concerning our internal operating or financial plan, regular-price, promotional and markdown selling, operating cash flows, liquidity and sources and availability of credit for all forward periods. Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including the ability to successfully increase our customer traffic and the success and customer acceptance of our merchandise offerings in our stores, on our website and in our catalogs; the ability to attract and retain talented and experienced executives that are necessary to execute our strategic initiatives; the risks associated with our efforts to maintain our traditional customer and expand to attract new customers; the continuing material impact of the U.S. economic environment as well as the risks and uncertainties included under “Risk Factors” and “Forward-looking Information” in our Annual Report on Form 10-K for the fiscal year ended January 29, 2011 and other periodic reports filed with the SEC which are incorporated herein. Our Annual Report on Form 10-K and other periodic reports are available at the Investor Relations section of our Website at www.thetalbotsinc.com.
     All of our forward-looking statements are as of the date of this Press Release only. In each case, actual results may differ materially from such forward-looking information. We can give no assurance that such expectations or forward-looking statements will prove to be correct. An occurrence of or any material adverse change in one or more of the risk factors or risks and uncertainties referred to in this Press Release or included in our other public disclosures or our other periodic reports or other documents or filings filed with or furnished to the SEC could materially and adversely affect our continuing operations and our future financial results, cash flows, available credit, prospects and liquidity. Except as required by law, the Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

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