Talbots said it swung to a loss of $37.4 million, or $0.54 per share, compared to a profit of $500,000, or $0.01 per share, in last year's first quarter.
An adjusted loss of $0.51 per share was worse than analysts expected.
A 9.9% decline in sales, to $271.1 million, actually exceeded analyst forecasts.
Talbots also said its chief creative officer is leaving the company, and it is searching for a replacement.
Also today, Urban Outfitters (NASDAQ:URBN) shares are plunging.
The company filed a 10-Q statement with the Securities and Exchange Commission late yesterday.
Investors may be reacting to the company's report in the filing that same-store sales fell 3.3% in the six months ending July 31.
For MarketNewsVideo.com, I'm Kristin Bianco.
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