Talbots (NYSE:TLB) reported Q1 EPS of $0.09, exceeding estimates for a loss of $0.02 a share. Revenues in the quarter came in at $275.9 million, also beating estimates of $272.6 million, citing improved merchandise margin. The company reported Q1 comp sales slipped 3.8% and still expects to close 110 sites in total as it has already closed 90 locations since March. In a separate report, Talbot said it didn’t reach a pact for the Sycamore merger before expiration.Despite the excellent earnings, investors are focusing on the company’s weakness on sales. Currently, Talbots is down over 34% to $1.68 in early trading.
