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Strong comparable store sales performance at dELiA*s
22 May '12
5 min read
The operating loss for the first quarter of fiscal 2012 for the retail segment was $2.8 million compared to $4.4 million in the prior year period.
The Company relocated one store location and closed one store location during the first quarter of fiscal 2012, ending the period with 112 stores.
Direct Segment Results
Total revenue for the direct segment for the first quarter of fiscal 2012 increased 6.6% to $23.6 million from $22.1 million in the first quarter of fiscal 2011.
Gross margin for the direct segment was 41.3% for the first quarter of fiscal 2012 compared to 44.6% in the first quarter of fiscal 2011. The decrease in gross margin resulted primarily from lower merchandise margins, related to increased markdowns on clearance goods and more aggressive promotional techniques to acquire new customers, and increased shipping and handling costs.
SG&A expenses for the direct segment were $10.9 million, or 46.4% of sales, in the first quarter of fiscal 2012 compared to $10.9 million, or 49.3% of sales, in the prior year period. The decrease in SG&A expenses as a percent of sales reflects the leveraging of selling and overhead expenses.
Operating loss for the first quarter of fiscal 2012 for the direct segment was $0.7 million as compared to $1.0 million in the prior year period. Included in the first quarter of fiscal 2012 is gift card breakage income of $0.5 million compared to $11,000 in the prior year period.
Balance Sheet Highlights
At the end of the first quarter of fiscal 2012, cash and cash equivalents were $16.6 million compared with $21.7 million, which included $10.2 million in restricted amounts, at the end of the first quarter of fiscal 2011.
Total net inventories at the end of the first quarter of fiscal 2012 were $30.4 million compared with $32.7 million at the end of the first quarter of fiscal 2011. Inventory per average retail store was down 5.1% compared to the prior year period, and inventory for the direct segment was down 3.4% compared to the prior year.
dELiA*s Inc. is a multi-channel retail company comprised of two lifestyle brands primarily targeting teenage girls and young women. Its brands – dELiA*s and Alloy – generate revenue by selling apparel, accessories and footwear to consumers through direct mail catalogs, websites, and dELiA*s mall-based retail stores.
The Company relocated one store location and closed one store location during the first quarter of fiscal 2012, ending the period with 112 stores.
Direct Segment Results
Total revenue for the direct segment for the first quarter of fiscal 2012 increased 6.6% to $23.6 million from $22.1 million in the first quarter of fiscal 2011.
Gross margin for the direct segment was 41.3% for the first quarter of fiscal 2012 compared to 44.6% in the first quarter of fiscal 2011. The decrease in gross margin resulted primarily from lower merchandise margins, related to increased markdowns on clearance goods and more aggressive promotional techniques to acquire new customers, and increased shipping and handling costs.
SG&A expenses for the direct segment were $10.9 million, or 46.4% of sales, in the first quarter of fiscal 2012 compared to $10.9 million, or 49.3% of sales, in the prior year period. The decrease in SG&A expenses as a percent of sales reflects the leveraging of selling and overhead expenses.
Operating loss for the first quarter of fiscal 2012 for the direct segment was $0.7 million as compared to $1.0 million in the prior year period. Included in the first quarter of fiscal 2012 is gift card breakage income of $0.5 million compared to $11,000 in the prior year period.
Balance Sheet Highlights
At the end of the first quarter of fiscal 2012, cash and cash equivalents were $16.6 million compared with $21.7 million, which included $10.2 million in restricted amounts, at the end of the first quarter of fiscal 2011.
Total net inventories at the end of the first quarter of fiscal 2012 were $30.4 million compared with $32.7 million at the end of the first quarter of fiscal 2011. Inventory per average retail store was down 5.1% compared to the prior year period, and inventory for the direct segment was down 3.4% compared to the prior year.
dELiA*s Inc. is a multi-channel retail company comprised of two lifestyle brands primarily targeting teenage girls and young women. Its brands – dELiA*s and Alloy – generate revenue by selling apparel, accessories and footwear to consumers through direct mail catalogs, websites, and dELiA*s mall-based retail stores.
dELiA*s Inc
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