Delia's Reports Disappointing Second Quarter

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Delia's, New York, yesterday reported disappointing second-quarter results and expects to post lower-than-expected operating income for the balance of the year. The Gen Y apparel cataloger and retailer posted a net loss of $6 million despite a 26 percent increase in net sales to $33.4 million for the period ended July 31, 1999. President Evan Guillemin attributed the loss to supporting the growth of its retail, catalog and Internet operations. Separately, the company announced its purchase of a 400,000-square-foot distribution center in Hanover, PA, for $6.2 million earlier this week.

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