Talbots tumbles on no deal with Sycamore |
| MarketWatch - May 25, 2012 |
Talbots Inc. shares plunged 34% Friday after the struggling women’s clothing retailer said its exclusivity agreement with potential buyer Sycamore Partners expired without a deal even after the deadline was extended twice.
Talbots
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Talbots /quotes/zigman/132560/quotes/nls/tlb TLB -37.89% said it remains open to pursuing a deal with Sycamore at $3.05 a share and will actively explore other options.
The lack of a deal raises the stakes for Talbots, which has posted losses as sales have declined.
Sycamore didn’t immediately respond to email and telephone messages seeking comment.
Talbots has trailed rivals, including Ann Inc. /quotes/zigman/4344868/quotes/nls/ann ANN +1.73% and Chico’s FAS Inc. /quotes/zigman/128188/quotes/nls/chs CHS +0.73% as it struggles to find the right mix between attracting a 45- to 54-year-old customer base while retaining its core 55- to 74-year-old clientele, analysts have said.
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- Posted: 2012-05-25 11:40:46
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