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What: Shares of clothing retailer Talbots (Nasdaq: TLB) are headed lower in a hurry today -- they're currently down 17% after dropping as much as 24% -- after the company lowered guidance for the second time in five weeks.

So what: Talbots is taking it on the chin after reporting that Christmas sales did not meet expectations. Talbots cited customers' unwillingness to adapt to new merchandise, higher markdowns, and weather conditions as the main culprits as to why the company will not be meeting quarterly guidance. It now expects a quarterly loss of $0.15 to $0.19 versus prior guidance of a profit of $0.05 to a loss of $0.03.

Now what: Excuses and high inventory levels seem to be the only things Talbots is never running low on. Just a month ago, I proposed that Talbots has a penchant for being unable to forecast consumer demand and accurately control inventory levels. Its aggressive markdowns will continue to eat into its gross margins and negate any positive jump in revenue. Do yourself a favor and leave Talbots on the sidelines until it proves it understands how to manage its own inventory.

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Fool contributor Sean Williams does not own shares in any companies mentioned in this article. You can follow him on Motley Fool CAPS under the screen name TMFUltraLong. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.