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dELIA*s Inc. (DLIA) Files Quarterly Report for the Period Ended on 2008-11-01

December 15, 2008 | About:

dELIA*s Inc. (DLIA) filed Quarterly Report for the period ended 2008-11-01.

dELIA*s Inc. has a market cap of $62.22 million; its shares were traded at around $1.75 with and P/S ratio of 0.23.

Highlight of Business Operations:

Retail Store Revenues. Retail store revenues increased 19.4% to $32.6 million for the quarter ended November 1, 2008 from $27.3 million for the quarter ended November 3, 2007. The revenue increase was driven by new store openings which included nine net new store openings since the end of the third quarter of fiscal 2007 and a comparable store sales increase of 7.6% over the prior year. During the quarter, we opened two new stores. Accordingly, we ended the quarter ended November 1, 2008 with 96 stores in operation as compared to the 87 locations open as of November 3, 2007.

Direct Marketing Gross Profit. Direct marketing gross profit for the quarter ended November 1, 2008 was $11.3 million or 46.3% of revenues as compared to $11.6 million or 47.1% of revenues for the quarter ended November 3, 2007. The decrease was primarily attributable to increases in postage and handling costs related to fuel surcharges.

Total Selling, General and Administrative. As a percentage of revenues, total selling, general and administrative expenses decreased to 41.5% for the quarter ended November 1, 2008 from 44.7% for the quarter ended November 3, 2007. In total dollars, selling, general and administrative expenses increased $0.4 million, from $23.2 million in the quarter ended November 3, 2007 to $23.6 million in the quarter ended November 1, 2008. The overhead expenses which had been previously allocated to the CCS business have now been reallocated to continuing operations in both 2008 and 2007. These costs are approximately $6.8 million on an annualized basis.

Retail Store Operating Loss. Operating loss from retail stores was $2.3 million for the quarter ended November 1, 2008 as compared to a loss of $3.4 million for the quarter ended November 3, 2007.

Our income tax benefit reflects our anticipated annual effective tax rate and is adjusted as necessary for quarterly events. We recorded an income tax benefit from continuing operations of $4.3 million in the quarter ended November 1, 2008 and an income tax benefit of $1.6 million for the quarter ended November 3, 2007. The benefit for income taxes from continuing operations for the thirteen weeks ended November 1, 2008 of $4.3 million includes a year-to-date catch-up adjustment of $3.1 million. The effective income tax rate based on actual operating results for the 13 weeks ended November 1, 2008 (excluding the catch-up adjustment) was 35.6% compared to 37.9% for the 13 weeks ended November 3, 2007.

Total Selling, General and Administrative. As a percentage of revenues, total selling, general and administrative expenses decreased to 46.1% for the thirty-nine weeks ended November 1, 2008 from 47.9% for the thirty-nine weeks ended November 3, 2007. In total dollars, selling, general and administrative expenses increased $4.1 million, from $64.3 million in the thirty-nine weeks ended November 3, 2007 to $68.4 million in the thirty-nine weeks ended November 1, 2008.

Read the The complete Report

More on DLIA:

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10-year financial history of DLIA.

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