dELiA*s, Inc. (NASDAQ: DLIA), a multi-channel retail company comprised of two lifestyle brands primarily marketing to teenage girls and young women, today announced the results for its fourth quarter of fiscal 2012 (the fourth quarter of fiscal 2012 consisted of fourteen weeks compared to the fourth quarter of 2011, which consisted of thirteen weeks) and fiscal year 2012 (fiscal year 2012 consisted of fifty-three weeks compared to fiscal year 2011, which consisted of fifty-two weeks).
Fourth Quarter Fiscal 2012 Highlights:
- Total revenue increased 1.0% to $66.2 million from $65.6 million in the prior year quarter. Revenue from the retail segment decreased 2.4% to $32.8 million, due to a reduction in store count and a comparable store sales decrease of 0.3%. Revenue from the direct segment increased 4.4% to $33.4 million on a catalog circulation increase of 1.0%.
- Consolidated gross margin decreased to 31.4% compared to 32.3% in the prior year quarter.
- Net loss was $10.7 million, or $0.34 per diluted share, compared to $4.2 million, or $0.13 per diluted share, in the prior year quarter. Included in the fourth quarter of fiscal 2012 were CEO transition costs of $0.6 million, or $0.02 per diluted share, and a goodwill impairment charge of $4.5 million, or $0.14 per diluted share.
Walter Killough, Chief Executive Officer, commented, “For the year, the dELiA*s brand had improved performance, driven primarily by the retail segment which recorded a comparable sales increase of over 5% and reduced its operating loss by almost $8 million. However, the fourth quarter proved disappointing, as a slowdown in mall and web traffic during January caused a negative change in trends in both segments. As we move through a senior management transition, I am focusing on improving the business, including implementing plans to reduce expenses by approximately $7 million and limit capital expenditures, managing inventory levels to improve turns, and partnering with our strategic advisor on a potential sale of the Alloy business.”
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