... that are separate from its retail stores to provide for clearance of store and catalog merchandise remaining from each sale event. The consistency in color, fabric and fit of Talbots merchandise allows a customer to create wardrobes across seasons and years. The majority of the Company's customers are college-educated and employed, primarily in professional and managerial occupations. The Company has established a market niche as a brand in women's and children's classic apparel, accessories and shoes. The specialty apparel chains continue to take market share away from the traditional department store and mass merchandiser. These companies offer specific products targeted to specific customers in order to better serve the individual. All specialty retailing industry sectors are heavily dependent on consumer spending. Since consumer spending represents two-thirds of the U.S. economy, these specialty retailers become extremely vulnerable to wide economic swings. Specialty retailers are heavily dependent on sales during the ...

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