The Talbots Inc. reported net income of $16 million for the fourth quarter, down from $22 million during the same period last year.
The cataloger and retailer reported net sales of $470.7 million for the quarter ended Jan. 31, up 11% from $422.7 million during the prior year.
The Hingham, MA firm reported catalog sales of $69.7 million for the quarter, up 20% from $58 million last year.
The firm attributed the quarterly results to markdowns.
“In the period we saw a 20% increase in our catalog business compared to the prior year, said CEO Arnold Zetcher in a statement. “Much of this strength came from robust markdown selling throughout our very successful post-Christmas semi-annual clearance event, which helped to clear excess inventory.”
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