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The acquisition represents Talbots' first since it opened in 1947. If the deal footwear and hand bags is approved, the combined companies would overtake Ann Taylor, which had about $2 billion in sales last year, and widen their lead over Chico's, which had about $1.4 billion in sales last year, according to analysts.To accommodate the evolving tastes of women over 35, stores like Talbots say footwear and hand bags they must delicately introduce fashionable merchandise without turning off core customers who depend on them for classic styles. Talbots learned its lesson in 1997 when the company strayed from its tailored look and footwear and hand bags tried to channel youth with trendy short skirts and high slits. The company had its worst year ever, according to spokeswoman Margery Myers, but now Talbots knows to offer items that are stylish but forgiving for what nature does to mature bodies.Take
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