Sales Down for Delia's, But Net Loss Declines

Share this article:
Mail delays contributed to lower fourth-quarter sales at Delia's Corp., the company said yesterday, though the company's net loss for the year was less than in 2000.


Sales were $49 million, down from $60.7 million a year earlier. The multichannel marketer of apparel, accesories and home furnishings to teen-age girls and young women said in a statement that the decrease "relates in part to sporadic mail delays that affected sales in the direct division."


Delia's reported net income of $310,000 for the quarter before accounting for a non-cash settlement of a class-action lawsuit, compared to a net loss of $17.8 million a year ago.


On a consolidated basis before accounting for the non-cash settlement, net sales during fiscal 2001 were $143.7 million, down from $215.1 million during fiscal 2000. The company's consolidated net loss for fiscal 2001 was $21.3 million, before an extraordinary item, and $22.1 million after the extraordinary item, compared to a net loss of $79.7 million last year.


The results do not include the impact of the previously announced settlement of the class-action lawsuit related to the acquisition of Delia's Inc. by iTurf Inc. in November 2000. The settlement fund will consist of 1 million shares of Class A stock, with a current settlement value of $7 million. The final settlement value will be determined by the end of April.


Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Nielsen Allies With Pointlogic on Cross-Channel Planning

Nielsen Allies With Pointlogic on Cross-Channel Planning

Aim is to develop a "next generation" media planning tool.

If Only Engendering Loyalty Was as Easy as Clicking Your Heels

If Only Engendering Loyalty Was as Easy as ...

Rack Room Shoes combines data, research, and mobile email to deliver a high-heeled digital loyalty program.

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Hub aims to help CMOs deliver on ROI goals by extending customer lifecycles.