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dELiA*s Inc makes progress during Q2
27 Aug '11
5 min read
Gross margin for the retail segment, which includes distribution, occupancy and merchandising costs, was 16.0% compared to 16.5% in the prior year period. The decrease in gross margin resulted from lower merchandise margins and increased inventory obsolescence, partially offset by occupancy cost leverage.
SG&A expenses for the retail segment were $11.8 million, or 44.7% of sales, in the second quarter of fiscal 2011 compared to $11.7 million, or 48.2% of sales, in the prior year period. The decrease in SG&A expenses as a percentage of sales was driven by selling and overhead expense leverage.
The operating loss for the second quarter of fiscal 2011 for the retail segment was $7.5 million compared to $7.7 million in the prior year period.
The Company remodeled one store location during the second quarter of fiscal 2011, ending the period with 115 stores.
Direct Segment Results
Total revenue for the direct segment for the second quarter of fiscal 2011 decreased 4.8% to $18.0 million from $18.9 million in the prior year period.
Gross margin for the direct segment was 43.1% compared to 44.4% in the second quarter of the prior year, primarily resulting from decreased postage, handling and other revenue, partially offset by increased merchandise margins.
SG&A expenses for the direct segment were $9.6 million, or 53.6% of sales, compared to $9.8 million, or 52.0% of sales, in the prior year period. The decrease in SG&A expenses in dollars reflects reduced selling expenses.
The operating loss for the second quarter of fiscal 2011 for the direct segment was $1.9 million as compared to $1.4 million in the prior year period.
First Six Month Results
For the six-month period ended July 30, 2011, total revenue increased 0.3% to $93.5 million from $93.2 million for the prior year period. Total gross margin was 30.4% compared to 30.1% for the prior year period. SG&A expenses were $43.3 million, or 46.3% of sales, for the first six months of fiscal 2011, compared to $45.1 million, or 48.4% of sales, for the prior year period.
The operating loss for the first six months of fiscal 2011 decreased to $14.8 million, compared to $16.9 million for the first six months of fiscal 2010.
Net loss for the first six months of fiscal 2011 increased to $14.1 million, or $0.45 per diluted share, compared to a net loss of $12.7 million, or $0.41 per diluted share, for the first six months of fiscal 2010. The net loss for the first six months of fiscal 2011 includes a benefit for income taxes of $0.9 million, or $0.03 per diluted share, compared to a benefit of $4.4 million, or $0.14 per diluted share, recorded in the first six months of fiscal 2010.
SG&A expenses for the retail segment were $11.8 million, or 44.7% of sales, in the second quarter of fiscal 2011 compared to $11.7 million, or 48.2% of sales, in the prior year period. The decrease in SG&A expenses as a percentage of sales was driven by selling and overhead expense leverage.
The operating loss for the second quarter of fiscal 2011 for the retail segment was $7.5 million compared to $7.7 million in the prior year period.
The Company remodeled one store location during the second quarter of fiscal 2011, ending the period with 115 stores.
Direct Segment Results
Total revenue for the direct segment for the second quarter of fiscal 2011 decreased 4.8% to $18.0 million from $18.9 million in the prior year period.
Gross margin for the direct segment was 43.1% compared to 44.4% in the second quarter of the prior year, primarily resulting from decreased postage, handling and other revenue, partially offset by increased merchandise margins.
SG&A expenses for the direct segment were $9.6 million, or 53.6% of sales, compared to $9.8 million, or 52.0% of sales, in the prior year period. The decrease in SG&A expenses in dollars reflects reduced selling expenses.
The operating loss for the second quarter of fiscal 2011 for the direct segment was $1.9 million as compared to $1.4 million in the prior year period.
First Six Month Results
For the six-month period ended July 30, 2011, total revenue increased 0.3% to $93.5 million from $93.2 million for the prior year period. Total gross margin was 30.4% compared to 30.1% for the prior year period. SG&A expenses were $43.3 million, or 46.3% of sales, for the first six months of fiscal 2011, compared to $45.1 million, or 48.4% of sales, for the prior year period.
The operating loss for the first six months of fiscal 2011 decreased to $14.8 million, compared to $16.9 million for the first six months of fiscal 2010.
Net loss for the first six months of fiscal 2011 increased to $14.1 million, or $0.45 per diluted share, compared to a net loss of $12.7 million, or $0.41 per diluted share, for the first six months of fiscal 2010. The net loss for the first six months of fiscal 2011 includes a benefit for income taxes of $0.9 million, or $0.03 per diluted share, compared to a benefit of $4.4 million, or $0.14 per diluted share, recorded in the first six months of fiscal 2010.
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