Hingham, MA, June 17, 2008 – The Talbots, Inc. (NYSE: TLB) today announced that it has named Gregory Poole Executive Vice President and Chief Supply Chain Officer. In this newly created position, Mr. Poole will oversee the global manufacturing, sourcing, transportation and distribution centers for the Talbots and J. Jill brands, reporting directly to Talbots President and Chief Executive Officer, Trudy F. Sullivan.
"Greg is a strong and proven supply chain executive, who brings a significant track record of implementing results-driven process improvements," said Ms. Sullivan. "He will be an invaluable asset in helping us to optimize our supply chain to generate greater efficiencies across the organization and improve the Company’s overall operational and financial performance."
Mr. Poole, 46, brings extensive supply chain management expertise in specialty retail from senior executive positions at Ann Taylor, Gap. Inc., Esprit de Corp., and The North Face, Inc. Mr. Poole spent over thirteen years at Gap Inc., where he led a global team responsible for managing the worldwide network of sourcing offices and vendors as well as the development of global sourcing strategies and alignment of organizational processes with industry best practices. Most recently, he served as SVP, Chief Procurement Officer of Ann Taylor Stores Corporation, where he spearheaded the development and implementation of a multi-year profit improvement initiative, addressing the company’s real estate portfolio, store operations, workforce structure, finance and procurement practices.
Mr. Poole holds a degree in Engineering from Auckland Technical Institute and completed the Executive Education program from the University of Pennsylvania, Wharton School of Business. Currently residing in New York, Mr. Poole will relocate to the Boston area with his wife to be based in Talbots Hingham office.
The Talbots, Inc. is a leading specialty retailer and direct marketer of women’s apparel, shoes and accessories. The Company currently operates stores in 871 locations in 47 states, the District of Columbia, and Canada, with 595 locations under the Talbots brand name and 276 locations under the J. Jill brand name. Both brands target the age 35 plus customer population. Talbots brand on-line shopping site is located at www.talbots.com and the J. Jill brand on-line shopping site is located at www.jjill.com.
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The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Reform Act of 1995. These statements may be identified by such forward-looking terminology as "expect," "look," "believe," "anticipate," "outlook," "will," "would," "target," "would yield," or similar statements or variations of such terms. All of the "outlook" information (including expected future revenue impact, expected future operational benefits, expected exit expenses, future comparable sales, future earnings, future EPS, and other future financial performance or operating measures) constitutes forward-looking information.
Our outlook and other forward-looking statements are based on a series of expectations, assumptions, estimates and projections about our Company which involve substantial risks and uncertainty, including assumptions and projections concerning exit costs and timing, outcome of negotiations with landlords and other third parties, exit plan inventory levels, valuations and sales, store traffic, levels of store sales, ,and our internal plan and budget for regular-price selling and markdown selling for the indicated forward periods. All of our outlook information and other forward-looking statements are as of the date of this release only. The Company can give no assurance that such outlook or expectations will prove to be correct and does not undertake or plan to update or revise any "outlook" information or any other forward-looking statements to reflect actual results, changes in assumptions, estimates or projections, or other circumstances occurring after the date of this release, even if such results, changes or circumstances make it clear that any forward-looking information will not be realized.
Any public statements or disclosures by us following this release which modify or impact any of the outlook or other forward-looking statements contained in or accompanying this release will be deemed to modify or supersede such outlook or statements in or accompanying this release.
Our forward-looking statements involve substantial known and unknown risks and uncertainties as to future events which may or may not occur, including whether our recently announced strategic review of our operations and any significant changes which may result from or in connection with such process will favorably impact our productivity and profitability in the short-term or long-term and the timing of any such matters, the risk that operational benefits expected to be realized from our exit plans will not be achieved or may take longer to achieve than expected, acceptance of the Company's fashions including its seasonal fashions, effectiveness of the Company's brand awareness and marketing programs and new promotional cadence strategy, and any different or any increased negative trends in its regular-price or markdown selling, retail economic conditions including consumer spending trends, the current housing issues and uncertainty in the financial and credit markets, success of our expected marketing events in driving store traffic and store and direct marketing sales, success of our catalogs in driving both our direct marketing sales and in driving store traffic, the Company's ability to anticipate and successfully respond to constantly changing customer tastes and preferences and to produce the appropriate balance of merchandise offerings, the Company's ability to sell its merchandise at regular prices as well as its ability to successfully execute its sale events including the timing and levels of markdowns and appropriate balance of available markdown inventory, our ability to accurately estimate and forecast future full-price and markdown selling for each of our brands, the success of our current executive-level searches, the risk that the J. Jill business will not be successfully integrated, the risk that the cost savings, operational efficiencies, and other synergies from J. Jill acquisition may not be fully realized or may take longer to realize than expected, the risk associated with integrating and operating profitably and successfully as a multi-brand chain for the first time and the reaction of Talbots and J. Jill customers and suppliers to the changes being made within the organization. In each case, actual results may differ materially from such forward-looking information.
Certain other factors that may cause actual results to differ from such forward-looking statements are included in the Company's periodic reports filed with the Securities and Exchange Commission and available on the Talbots website under "Investor Relations" and you are urged to carefully consider all such factors.
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