Talbots To Report 3Q Earnings On 12/7

Citigroup has published a research report on Talbots, Inc. TLB in anticipation of the company reporting its 3Q earnings tomorrow, December 7. In the report, Citigroup writes "TLB finishes up the Softlines earnings calendar when it reports 3Q10 EPS on Tuesday morning (12/7). Sales trends for missy retailers have improved since TLB provided its update on October 5, and we think there could be upside to consensus of $0.25. Guidance is for EPS of $0.22 to $0.28. Traffic trends will dictate the performance and we'll need to see a significant improvement from the recent (10%) decline to get more favorable. That said, we expect TLB to maintain its FY guidance of $0.84 to $0.92 in the absence of a big shift in sales. Consensus is $0.88. There are multiple initiatives to drive earnings but the potential for a more promotional 4Q10 indicate that a “turn” may still be a few quarters out." Citigroup maintains its Hold rating and $13 price target. Talbots, Inc. closed Friday at $11.68.