Talbots (TLB -5.5%) dips after its Q3 beat on revenue but misses on a per share basis due to...

|By:, SA News Editor

Talbots (TLB -5.5%) dips after its Q3 beat on revenue but misses on a per share basis due to steep markdowns. Profit decreased 6.6% Y/Y on top of a year-earlier decline of 3.2%. November same-store sales dropped 4%, leading the company to cut guidance for Q4. Additionally, the company says it will be cutting 9% of its staff and closing 110 stores by 2013 in an attempt to reduce costs by around $50M per year.