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dELiA*s, Inc. Announces Sale of Alloy Brand

  dELiA*s, Inc. Announces Sale of Alloy Brand

Business Wire

NEW YORK -- June 4, 2013

dELiA*s, Inc. (NASDAQ: DLIA), a multi-channel retail company primarily
marketing to teenage girls, today announced the sale of its Alloy business to
HRSH Acquisitions LLC d/b/a Alloy Apparel and Accessories. The Company
received $3.7 million in cash at the closing of the sale in exchange for
certain assets relating to Alloy, and Alloy Apparel and Accessories assumed
approximately $3.1 million in liabilities. dELiA*s, Inc. and Alloy Apparel and
Accessories also entered into a related agreement under which the Company will
provide certain transitional services to Alloy Apparel and Accessories for up
to one year.

“We are pleased to have completed the sale of Alloy,” said Walter Killough,
Chief Executive Officer of dELiA*s, Inc. “This transaction will enable us to
focus our efforts exclusively on our dELiA*s brand as we work to improve our
product offerings and enhance the overall customer experience. In addition,
providing transitional services will allow us to offset certain overhead costs
as we evaluate our cost structure going forward.”

Brian Lattman, Co-Head of HRSH Acquisitions LLC, will be assuming the role of
President of the newly formed entity. Mr. Lattman will work closely with the
Alloy management team to drive growth in the business through brand building
and new customer acquisition.

Janney Montgomery Scott LLC acted as exclusive financial advisor to dELiA*s in
connection with the transaction. Troutman Sanders LLP acted as legal advisor
to dELiA*s. Lowenstein Sandler LLP acted as legal advisor to HRSH Acquisitions
LLC.

About dELiA*s, Inc.

dELiA*s, Inc. is a multi-channel retail company primarily marketing to teenage
girls. It generates revenue by selling apparel, accessories and footwear to
consumers through direct mail catalogs, websites, and mall-based retail
stores.

About HRSH Acquisitions LLC

HRSH Acquisitions LLC, newly-formed to acquire the Alloy business, was
capitalized by a group of leading industry-related investors led by Steve
Russo and Brian Lattman. Mr. Russo is the founder of FAB NY, a multi-category
fashion-driven company focusing on a range of back-to-school products,
including branded and private label accessories, stationery, and
luggage/travel accessories for the youth and junior markets; and Artisan
House, a contemporary women’s handbags and related accessories company. Mr.
Lattman, was formerly a principal and the chief merchandising officer at
Norstan Apparel Shops, and most recently the chief merchandising officer at
LANY LLC.

Forward-Looking Statements

This announcement 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
 
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