Home / Knowledge / News / Apparel/Garments / Q2FY15 revenue plunges 22.4% at clothing retailer dELiA*s
Q2FY15 revenue plunges 22.4% at clothing retailer dELiA*s
12
Sep '14
Revenue plunged 22.4% year-on-year at NASDAQ-listed dELiA*s, Inc., an omni-channel retail company primarily marketing to teenage girls in the second fiscal quarter ending August 2, 2014.

Total revenues declined 22.4% to $25.7 million in the second quarter of 2014 from $33.2 million in the second quarter of 2013. Comparable store sales too fell 12.4%.

In the second quarter of 2014, gross profit as a percentage of sales stood at 17.1% down from 20.9% in the prior year quarter, which dELiA*s attributed to the deleveraging of occupancy, merchandising and distribution costs.

Selling, general and administrative (SG&A) expenses reached $17.6 million, or 68.2% of revenues, in the second quarter of fiscal 2014 compared to $17.2 million, or 51.9% of revenues, in the prior year period.

dELiA*s said the rise in SG&A expenses is mainly as a result of marketing initiatives related to its social media and e-commerce business as well as stock-based compensation expense.

The operating loss for the second quarter of fiscal 2014 rose to $12.9 million compared to a loss of $10.1 million in the prior year comparable quarter.

Loss from continuing operations grew to $13.6 million in the period under preview against loss from continuing operations for the second quarter of 2013 of $11.1 million.

dELiA*s said it opened one store location and closed five store locations during the second quarter of fiscal 2014, ending the period with overall count of 95 stores.

At the end of the second quarter of 2014, cash and cash equivalents decreased to $3.1 million compared with $4.2 million at the end of the second quarter of 2013.

At the end of the second quarter of 2014, dELiA*s had restricted cash of $8.3 million to support outstanding letters of credit.

Availability under the apparel retailers’ credit facility with Salus Capital was $16.0 million as of the end of the second quarter of 2014, net of borrowings of $5.4 million.

Total net inventories at the end of the second quarter of 2014 went up to $29.2 million compared with $26.8 million at the end of second quarter of fiscal 2013.

As per dELiA*s, the increase in net inventory at the end of the second quarter reflects a shift in the timing of receipts for Fall products.

CEO Tracy Gardner said, “We are intently focused on transforming from a catalog-centric business with stores and a website to a fully-integrated omni-channel experience. This transition is only now beginning to take hold and will be a continued focus of this organization.” (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles minister Smriti Irani lighting the lamp to inaugurate the 6th edition of the International Apparel and Textile Fair ‘VASTRA 2017’, in Jaipur. Courtesy: PIB

Textiles | On 22nd Sep 2017

Placement rate in textiles sector is 70%: Indian minister

The recent high growth of foreign direct investment (FDI) in the...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Textiles | On 22nd Sep 2017

Messe Frankfurt acquires Source Africa, ATF textile shows

Messe Frankfurt, one of the world´s leading trade show organisers,...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

September 2017

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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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