Feb '12
The decision to shut the kidswear firm was taken on account of the company's US branches registering high losses, Issac Dabah, CEO of Delta, said post-presentation of the 2011 cost analysis and the company's projected sales forecast for the current year.
Delta Kids was launched as a separate apparel chain around a year back, but subsequently, the Delta management realized that the store earned more profit while functioning as a unified Delta brand, catering to the whole family, rather than functioning as an individual brand catering only to kids' apparels.
The 2011 cost analysis showed Delta's turnover increasing by 9 percent year-on-year to an estimated US$ 678.8 million.
There was also an increase in the company's operational revenue, which rose by 28 percent y-o-y to US$ 39.7 million. The rise in operational revenue was due to two new additions – Nike and Victoria's Secret – to the brands sold at Delta stores.
During first half of 2012, Delta is planning to open 14 new outlets.
Fibre2fashion News Desk - India
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