By Market News Video Staff, Tuesday, December 7, 8:09 AM ET
The Talbots (TLB) posted adjusted third quarter income of $18.7 million, or $0.27 per share, compared to last year’s adjusted income from continuing operations of $17.2 million, or $0.31 per share.
For the fourth quarter of 2010, the company anticipates adjusted earnings per share in the range of a loss of $0.05 per share to earnings of $0.03 per share, excluding special items. This compares to last year’s adjusted earnings per share from continuing operations of $0.13. Based on current trends in the business, the Company anticipates fourth quarter top-line sales to be in the range of flat to down low single digits compared to last year.
The Company revised its previously announced full year outlook. Full year adjusted earnings per share from continuing operations are anticipated to be in the range of $0.70 to $0.78 per share, excluding special items. This compares to an adjusted loss per share from continuing operations of $0.10 reported last year and a decrease from its previously announced outlook for earnings per share in the range of $0.84 to $0.92. This anticipated result is based on expected top-line sales of approximately flat to down 1% compared to the prior fiscal year, and to the Company’s previously announced outlook for an approximate 1% increase.
The ETF that holds the largest percentage of TLB is the PowerShares Dynamic Retail Portfolio (AMEX:PMR) at about 2.3% of the ETF.
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