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 | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar
Label Ritu Kumar

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

Bani Batra

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search