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dELiA*s completes sale of CCS brand
06 Nov '08
1 min read
dELiA*s Inc announced the closing of the previously announced sale of assets related to its CCS brand to Foot Locker Inc.
Upon closing, dELiA*s, Inc. received a $103.2 million cash payment from Foot Locker in exchange for all of the agreed upon assets relating to CCS, including certain intellectual property assets previously owned by Alloy Inc used specifically in the CCS business.
dELiA*s purchased certain intellectual property assets, together with specified media services from Alloy in exchange for aggregate consideration of approximately $9 million.
For the third quarter, the Company will report the results of CCS as discontinued operations. The Board of Directors is expected to reach a final determination of the use of the net after-tax proceeds of this sale after the end of fiscal year 2008.
dELiA*s, Inc. is a direct marketing and retail company comprised of two lifestyle brands primarily targeting girls and young women between the ages of 12 and 19. Its brands - dELiA*s and Alloy - generate revenue by selling apparel, accessories, footwear and room furnishings to teenage consumers through direct mail catalogs, websites, and for dELiA*s, mall-based specialty retail stores.
Upon closing, dELiA*s, Inc. received a $103.2 million cash payment from Foot Locker in exchange for all of the agreed upon assets relating to CCS, including certain intellectual property assets previously owned by Alloy Inc used specifically in the CCS business.
dELiA*s purchased certain intellectual property assets, together with specified media services from Alloy in exchange for aggregate consideration of approximately $9 million.
For the third quarter, the Company will report the results of CCS as discontinued operations. The Board of Directors is expected to reach a final determination of the use of the net after-tax proceeds of this sale after the end of fiscal year 2008.
dELiA*s, Inc. is a direct marketing and retail company comprised of two lifestyle brands primarily targeting girls and young women between the ages of 12 and 19. Its brands - dELiA*s and Alloy - generate revenue by selling apparel, accessories, footwear and room furnishings to teenage consumers through direct mail catalogs, websites, and for dELiA*s, mall-based specialty retail stores.
dELiA*s Inc
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