May 21 (Bloomberg) -- Talbots Inc., the retailer that sells tailored clothes to women 35 and older, posted first-quarter profit that exceeded some analysts' estimates and reiterated its full-year earnings forecast, causing the shares to rise.
Talbots Inc. stock plunged yesterday to $9.16, losing 29 percent after the struggling company - which announced a major makeover plan just this month - revealed that two banks had canceled $265 million in letters of credit. In 2007, the company lost half of its market value.
The company's future looks bleak. It lacks direction and has made some bad decisions. Can't deal with competition, quality is not there and over paid for a smaller disfunctional company.