Talbots to Enter Outlet Business

The Talbots Inc. (Hingham, Mass.) has announced it will open 12 outlet stores next year. According to the Boston Globe, the specialty retailer, which recently closed its men's and children's divisions, is apparently trying to reinvent the brand.

The Globe reported the stores are slated to open in the spring, and the company plans to open about 30 shops in the next few years, featuring specially manufactured items in less-expensive fabrics instead of overflow from the retail stores' clearance racks.

“In 2009 we will open upscale outlets in premium outlet centers,” said ceo Trudy Sullivan.

Talbots will be selling its merchandise near outlets run by brands such as Coach and Polo Ralph Lauren.

Sullivan also said she is allocating tight resources to benefit her customers, such as upgrading the retailer’s 595 stores before corporate headquarters get any refurbishment.

For the third quarter, Talbots, which is majority-owned by Aeon Co. Ltd. (Chiba, Japan), reported a net loss of $167.2 million and same-store sales fell 13.9 percent.