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

Uzbekistan wants joint ventures with Hungarian textile firms

Textiles | On 20th Feb 2018

Uzbekistan wants joint ventures with Hungarian textile firms

Uzbekistan has offered Hungary to create joint ventures in the two...

Vietnam’s textile & garment exports up 10.68% in 2017

Textiles | On 20th Feb 2018

Vietnam’s textile & garment exports up 10.68% in 2017

Vietnam came very close to achieving its 2017 textile and garment...

From left: Tania Polonnowita Wettimuny, MD, Hellmann Sri Lanka; Bart de Vries, Global COO Air & Sea Hellmann; Deshamanya Mahesh Amalean, Chairman, MAS Holdings; & Shirendra Lawrence, COO, MAS Holdings

Textiles | On 20th Feb 2018

Hellmann and MAS form joint venture HMSC

Hellmann Worldwide Logistics and MAS Holdings have formed Hellmann...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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