Home / Knowledge / News / Apparel/Garments / dELiA*s Inc makes progress during Q2
dELiA*s Inc makes progress during Q2
27
Aug '11
dELiA*s Inc announced the results for its second quarter of fiscal 2011.

Walter Killough, Chief Executive Officer, commented, "We continued to make progress during the second quarter, and the addition of Dyan Jozwick to our senior management team has already helped to accelerate some of our key merchandise initiatives. In the retail segment, we achieved our best quarterly comparable store sales performance in three years, generating a double-digit increase in May and June combined. However, merchandise margins were negatively impacted throughout the quarter, as we transitioned our product offerings and promotional strategies. In the direct segment, we cut circulation as planned, while moving dollars to alternative web-marketing vehicles and shifting circulation to the third quarter to better match the buying habits of our customers."

Mr. Killough continued, "While a majority of our districts have not yet peaked for the Back-To-School selling season, traffic has been inconsistent compared to last year and sales performance has been mixed. As we move through Back-To-School, we plan to continue to refine the pricing and assortment in the dELiA*s Brand."

Fiscal Second Quarter Results
Total revenue for the second quarter of fiscal 2011 increased 2.6% to $44.3 million from $43.2 million in the second quarter of fiscal 2010. Revenue from the retail segment increased 8.4% to $26.4 million, or 59.5% of total revenue. Revenue from the direct segment decreased 4.8% to $18.0 million, or 40.5% of total revenue.

Total gross margin decreased to 27.0% in the second quarter of fiscal 2011, compared to 28.7% in the prior year quarter, predominantly reflecting reduced merchandise margins in the retail segment, partially offset by occupancy cost leverage.

Selling, general and administrative (SG&A) expenses were $21.4 million, or 48.3% of sales, for the second quarter of fiscal 2011 compared to $21.5 million, or 49.9% of sales, in the second quarter of fiscal 2010. The decrease in SG&A expenses as a percent of sales reflects selling and overhead cost leverage.

Net loss for the second quarter of fiscal 2011 was $9.6 million, or $0.31 per diluted share, compared to a net loss for the second quarter of fiscal 2010 of $6.8 million, or $0.22 per diluted share. The second quarter of fiscal 2011 included approximately $0.03 per diluted share in costs related to the recent change in the President of the dELiA*s Brand.

The provision for income tax expense for the second quarter of fiscal 2011 was $50,000, or $0.00 per diluted share, compared to a benefit for income taxes of $2.3 million, or $0.07 per diluted share, for the prior year period.

Results by Segment

Retail Segment Results
Total revenue for the retail segment for the second quarter of fiscal 2011 increased 8.4% to $26.4 million from $24.4 million in the second quarter of fiscal 2010. Retail comparable store sales increased 7.2% for the second quarter of fiscal 2011 compared to a decrease of 6.8% for the second quarter of fiscal 2010.

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search