Home / Knowledge / News / Apparel/Garments / Total revenue up for Q4 of fiscal 2010 at dELiA*s
Total revenue up for Q4 of fiscal 2010 at dELiA*s
21
Mar '11
dELiA*s Inc, a direct marketing and retail company comprised of two lifestyle brands primarily targeting teenage girls and young women, today announced the results for its fourth quarter and fiscal year ended January 29, 2011.

Walter Killough, Chief Executive Officer, commented, "We have taken important steps to turn around our business and believe we are entering 2011 in a stronger position than at this time a year ago. We continued to see the impact of our strategic changes during the fourth quarter as both our retail and direct businesses showed improvement.

"In the retail segment, while reduced traffic in the month of December drove a negative comparable store sales result, we were able to deliver increased conversion compared to last year in all three months of the quarter. In addition, we ended the year with a strong balance sheet, with cash and inventories in line with our expectations."

Mr Killough continued, "Our business has continued to improve, and through February we have been able to achieve positive comparable store sales performance in five of the last six months. We are pleased to see that our strategic changes are also leading to higher margins in all channels, on a lower expense base. These trends have continued through the first two weeks of March. We remain focused on driving increased productivity in all of our business channels in order to improve profitability."

Fiscal Fourth Quarter Results

Total revenue for the fourth quarter of fiscal 2010 increased 0.9% to $66.9 million from $66.3 million in the fourth quarter of fiscal 2009. Revenue from the retail segment increased 1.7% to $34.9 million, or 52.2% of total revenue. Revenue from the direct segment remained flat at $32.0 million, or 47.8% of total revenue.

Total gross margin was 36.8% in the fourth quarter of fiscal 2010, compared to 37.2% in the prior year quarter, reflecting increased occupancy and freight costs, partially offset by improved merchandise margin.

Selling, general and administrative (SG&A) expenses were $26.2 million, or 39.1% of sales, for the fourth quarter of fiscal 2010 compared to $27.2 million, or 41.1% of sales, in the fourth quarter of fiscal 2009. The decrease in SG&A as a percent of sales reflects the leveraging of reduced selling and overhead costs, partially offset by an increase in depreciation expense.

Net income for the fourth quarter of fiscal 2010 was $0.7 million, or $0.02 per diluted share, compared to a net loss for the fourth quarter of fiscal 2009 of $0.8 million, or $0.03 per diluted share. The net loss for the fourth quarter of fiscal 2009 included an initial gift card breakage benefit of $1.3 million, or $0.04 per diluted share, and a store impairment charge of $0.3 million, or $0.01 per diluted share.

The benefit for income taxes for the fourth quarter of fiscal 2010 was $2.1 million compared to a benefit for income taxes of $1.1 million forthe prior year period.


Must ReadView All

Textiles | On 26th Jun 2017

US initiates probe into PSF imported from 5 nations

The department of commerce of the US has initiated investigations for ...

Textiles | On 26th Jun 2017

Braskem invests in polypropylene production facility in US

The Board of Directors of Braskem, one of the largest producer of...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani
Aditi Somani

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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