DELiA*s Inc a direct marketing and retail company comprised of three lifestyle brands primarily targeting consumers between the ages of 12 and 19, today announced financial results for the fourth quarter and year ended February 3, 2007.
Net income from continuing operations increased 41% for the quarter to $6.8 million or $0.21 per diluted share compared to last year's $4.9 million or $0.17 per diluted share.
Same-store sales for the retail segment increased by 5% for the comparable fourteen-week periods, with total retail sales increasing by 39%. Net sales of the direct segment increased by 5% over the fourth quarter of fiscal 2005.
Overall gross margin decreased by 20 bps to 40.8% of sales, or $36.5 million, due to the retail segment growing as a percent of the total sales mix. Gross margin for both the retail and direct segments increased from year-ago levels. SG&A expense was 32.6% versus 34.3% a year ago, an improvement of 170 bps. Operating margin increased by 150 bps to 8.2% of sales, or $7.3 million.
Net sales for the Company's dELiA*s retail stores increased by 39% to $28.5 million for the quarter compared to last year's $20.6 million. During the quarter, the Company opened four new premiere stores and closed three stores, including the remaining two outlet stores, to end the quarter and fiscal year with 74 premiere stores. Gross profit for the retail segment, which includes distribution, occupancy and merchandising costs, was $7.6 million versus last year's $5.2 million, an increase of 45%.
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