Talbots Down after Steep 4Q Loss

Shares of Talbots Inc. (TLB) are down more than 27% today after the company reported a wider than-expected fiscal fourth-quarter loss late Monday.

Talbots incurred a loss of $2.40 per share, excluding items, versus the consensus estimate for a loss of 67 cents.

The company expects to post a fiscal first quarter loss in the range of 52 cents to 47 cents per share. Analysts were expecting the company to incur a loss of one cent.

Talbots did not provide its full-year earnings forecast due to the ongoing uncertainty in U.S. economic conditions. The full-year average earnings estimate for the current fiscal year is pegged at a loss of 79 cents per share, compared to the 2 months-ago level for a loss of 78 cents.

Talbots, which is a Zacks #4 Rank ("Sell") company is trading on heavy volume of 1.1 million shares against the daily average of 457,345.

Read the full analyst report on TLB