Barclays Reiterates an 'Underweight' on Talbots (TLB); 1Q 2011 Earnings Review

Barclays reiterates an 'Underweight' on Talbots (NYSE: TLB), PT slashed from $5 to $2.

Barclays analyst says, "TLB reported 1Q/11 adjusted EPS of $0.08 versus our flat estimate and consensus of $0.04. $0.01 of the beat was operating due to lower SG&A and $0.07 was due to lower-than-expected taxes. Management's 2Q/11 guidance implies a loss of $0.46 versus our prior estimate for a loss of $0.04. We are lowering our 2Q EPS to a loss of $0.46 from a loss of $0.04, FY 2011 to a loss of $0.27 from a profit of $0.11 and 2012 to $0.24 from $0.33."

For more ratings news on Talbots click here and for the rating history of Talbots click here.

Shares of Talbots closed at $2.63 yesterday.

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