dELiA*s, Inc. Announces New Addition to Leadership Team
Provides Update on May/June Performance
NEW YORK -- July 15, 2013
dELiA*s, Inc. (NASDAQ: DLIA), a multi-channel retail company primarily
marketing to teenage girls, today announced that Whitney Randall has joined
dELiA*s as Vice President, General Merchandise Manager. In her role, Ms.
Randall will be responsible for all merchandising activities for the
organization, and will report to Tracy Gardner, Chief Executive Officer. Ms.
Randall’s experience includes successful tenures with Ms. Gardner at both The
Gap and J.Crew in various merchandising roles, including Vice President of
Merchandising for J.Crew. For the past year, Ms. Randall has been Divisional
Vice President of Global Merchandising for Coach.
Tracy Gardner, Chief Executive Officer, commented, “We are excited to welcome
Whitney to dELiA*s. She has an exceptional track record, bringing deep
knowledge and experience to our organization. I look forward to once again
working with Whitney to bring the dELiA*s brand to its full potential.”
Additionally, the Company today provided an update on May/June performance.
For the combined May and June period, total Company revenue decreased 15.1% to
$23.2 million compared to the same period in fiscal 2012 reflecting persistent
weak traffic trends. Revenue from the retail segment decreased 12.2% to $16.9
million, due to a reduction in store count and a comparable store sales
decrease of 8.1%. Revenue for the direct segment decreased 22.2% to $6.2
million. For the combined May and June period, total merchandise margins
decreased approximately 350 basis points compared to the prior year period.
Ms. Gardner stated, “Business remains challenging as we continue to utilize
aggressive promotional strategies to move through underperforming legacy
inventory. As we are in the beginning stages of a turnaround, we expect
continuing pressures over the near term. We are intently focused on managing
the dELiA*s business for the long-term, and are working to create a unified
brand image and build a strong foundation for profitable future growth.”
Michael Zimmerman, Chairman of the Board, added, “We are pleased with the
progress that Tracy is making to enhance her senior leadership team and the
steps she is taking to stabilize the business. We are also pleased with our
new relationship with Salus Capital as we partner together to identify ways to
create additional financial flexibility.”
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 its website, direct mail catalogs, and mall-based retail
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.
David Dick, Chief Financial Officer
Jean Fontana, 646-277-1214
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