dELiA*s, Inc. Announces Mutual Agreement Not to Renew Chief Executive Officer’s Employment Agreement

  dELiA*s, Inc. Announces Mutual Agreement Not to Renew Chief Executive
  Officer’s Employment Agreement

Business Wire

NEW YORK -- January 7, 2013

dELiA*s, Inc. (NASDAQ: DLIA), a multi-channel retail company comprised of two
lifestyle brands marketing to teenage girls and young women, today announced
the Company and its Chief Executive Officer, Walter Killough, have mutually
agreed not to renew Mr. Killough’s employment agreement. The agreement was
scheduled to expire on August 2, 2013, however, it is anticipated that he will
depart from dELiA*s on or about April 1, 2013. The Company has commenced a
search for a new Chief Executive Officer. In the event a new CEO has not been
named, Mr. Killough may agree to continue to serve as CEO of dELiA*s for a
limited period of time after April 1, 2013.

Carter S. Evans, Chairman of the Board, stated, “On behalf of the Board of
Directors, I want to thank Walter for his nine years of dedicated service to
dELiA*s. Walter has been a great leader, following through on our strategic
initiatives and positioning dELiA*s on the right course to profitability. At
this time, the Board has commenced a search for a new CEO to lead the Company
forward. Walter will continue to work with our strong team of operators to
carry forward our objectives and ensure a smooth transition.”

Mr. Killough commented, “I want to thank the Board of Directors and the entire
dELiA*s team for their support and confidence throughout my time here. During
the search for a successor Chief Executive Officer, I will remain focused on
and actively engaged in the continued execution of our strategic initiatives
through the transition period. I am proud of what the team has accomplished
and believe that dELiA*s is a compelling concept.”

About dELiA*s, Inc.

dELiA*s, Inc. is a multi-channel retail company comprised of two lifestyle
brands marketing to teenage girls and young women. Its brands – dELiA*s and
Alloy – generate revenue by selling apparel, accessories and footwear to
consumers through websites, direct mail catalogs and dELiA*s mall-based retail
stores.

Forward-Looking Statements

This press release may contain forward-looking statements made in reliance
upon the safe harbor provisions of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding our expectations and beliefs regarding
our future results or performance. Because these statements apply to future
events, they are subject to risks and uncertainties. When used in this
announcement, the words “anticipate”, “believe”, “estimate”, “expect”,
“expectation”, “should”, “would”, “project”, “plan”, “predict”, “intend” and
similar expressions are intended to identify such forward-looking statements.
Our actual results could differ materially from those projected in the
forward-looking statements. Additionally, you should not consider past results
to be an indication of our future performance. For a discussion of risk
factors that may affect our results, see the “Risk Factors That May Affect
Future Results” section of our filings with the Securities and Exchange
Commission, including our annual report on Form 10-K and quarterly reports on
Form 10-Q. We do not intend to update any of the forward-looking statements
after the date of this announcement to conform these statements to actual
results, to changes in management's expectations or otherwise, except as may
be required by law.

Contact:

dELiA*s, Inc.
David Dick, 212-590-6200
Chief Financial Officer
or
ICR
Jean Fontana, 646-277-1214