The Talbots Inc., Hingham, MA, had an 8% net sales increase in fiscal 1998, with revenue levels increasing from $1.05 billion to $1.14 billion. Retail store sales were up 9% to $973.0 million from $894.6 million last year, while catalog sales were up 6% to $169.2 million versus $159.2 million last year. For the fifty-two week period, net income was $36.7 million, compared to $5.8 million earned in the same period in fiscal 1997.
The quarter and year ended January 30.
During the fourth quarter, net sales grew by 7%, from $312.2 million to $335.3 million. But the growth in fourth-quarter catalog sales — 11%, jumping from $46.1 million in fourth-quarter 1997 to $51.4 million in fourth quarter 1998 — surpassed that of retail stores, which increased 7%, from 266.1 million to $283.9 million. And the company had a profitable fourth quarter, showing a net income of $8.1 million, compared with a loss of $10.3 million in fourth-quarter 1997.
The company also announced plans to enter the e-commerce arena in 1999. Plans are for a site to be in operation by the holiday season.
Talbots is a retailer and cataloger of women’s classic apparel, shoes and accessories. The company operates 644 stores, and its catalog operation circulated approximately 53 million catalogs in fiscal 1998.
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