The Talbots, Inc. says it has swung back to a profit in its fourth quarter, and that its transformation is on track. Â
The Hingham, Mass.-based retailer
says net income for the quarter came in at $7.4 million compared to last year's adjusted loss from continuing operations of $123.4 million. And while sales slipped 3.7% to $315.9 million, compared to
$327.9 million last year, it says markdown selling declined 21% while sales of full-price items rose 10%.
Â
On a comparable store basis, sales dropped 7.2% in the quarter, although January sales were
up. --Sarah Mahoney