Delia's Forecasts Midyear Rebound

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Delia's, a marketer of products for girls and young women, expects to grow sales and return to profitability this year, the company said yesterday.

The multichannel retailer expects revenue of $165 million to $175 million in 2002, split nearly evenly between its retail and direct divisions. Sales growth will be driven primarily by retail expansion, including the opening of 20 stores in 2002, and modest growth in the direct division.

Delia's said it expects losses of $2.9 million to $3 million in the first quarter of 2002 and $3.9 million to $4 million in the second quarter. However, the company projects a midyear rebound and estimates third-quarter 2002 profits of $2.5 million to $2.7 million and fourth-quarter profits of $7.5 million to $7.6 million.

Delia's, New York, markets apparel, accessories and home furnishings. The company sells through its Delia's catalog, Web site and its 46 retail locations.


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