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NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollar
amounts in thousands except per share data)
1.DESCRIPTION
OF BUSINESS
The
Talbots, Inc. (together with its subsidiaries, the "Company")
is a specialty retailer with a direct marketing catalog operation and
internet website. JUSCO (U.S.A.), Inc. is the Company’s majority
shareholder, owning approximately 58.1% of the Company’s outstanding
common stock at February 3, 2001.
The
year ended February 3, 2001 was a fifty-three week reporting period and
the years ended January 29, 2000 and January 30, 1999 were fifty-two
week reporting periods. The Company conforms to the National Retail
Federation’s fiscal calendar.
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