The Talbots, Inc., Hingham, MA, has reported net income for the fourth quarter ended Jan. 30 of $15.3 million, compared to $8.1 million for the same period last year.
Net sales increased 12% to $375.6 million, compared to $335.3 million. Catalog sales increased 6% to $54.7 million from $51.4 million and retail store sales were up 13% to $320.9 million from $283.9 million.
For the 52-week period, catalog sales were up 13% to $191 million versus $169.2 million last year. Net income was $58.5 million, a 59% increase over $36.7 million for the same period in fiscal 1998. Net sales increased 13% to $1.29 billion versus $1.142 billion last year. Retail store sales were up 13% to $1.1 billion from $973 million last year.
Arnold B. Zetcher, president and CEO said in a statement that in 1999 total page circulation of the catalog was reduced by 4%, yet sales increased 13% as a result of a targeted mailing strategy and a more focused merchandise presentation. Zetcher said the company will continue to leverage that approach to build its catalog business in 2000. Current plans for e-commerce shopping site Talbots.com include additional enhancements to its visual presentation and more aggressive advertising as part of our overall marketing program.
In addition, the company plans to open about 52 new stores to be operating a total 720 stores by the end of the fiscal year.
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