Delia's direct sales revenue drops 10.7% in Q1
Multichannel retailer Delia's saw a 4.1% year-over-year decrease in total first-quarter revenue to $50 million. Its direct segment revenue dropped 10.7% from the year prior to $24 million for Q1. Retail sales dropped 3% to $26 million.
The company's net loss in the first quarter was $5.6 million. Last year, the retailer saw a $3.6 million net loss in the quarter.
Delia's Q1 earnings were “disappointing,” said CEO Walter Killough in an earnings statement. However, he added that the results were expected.
However, Killough, who replaced Robert Bernard earlier this month, was optimistic about the company's revenue potential for the rest of the year.
“We expect the initiatives we are implementing across both our retail and direct segments will result in improved performance in the back half of the year and provide for a stronger business model long-term,” he added.
A Delia's representative could not be immediately reached for comment.