Talbots to cut jobs and clothing lines
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From Times Wire Services
Talbots Inc., a women’s clothing retailer that lost half its market value last year, will stop selling children’s and men’s apparel and eliminate 5% of the workforce after two quarters of losses.
Sales at the namesake Talbots and J. Jill chains, which target women 35 and older, are below the company’s expectations so far in the fourth quarter, the company said.
Shares of the retailer, based in Hingham, Mass., fell 11.4% to its lowest in more than nine years.
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