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dELIA*s Inc. Reports Operating Results (10-Q)

September 10, 2009 | About:
10qk

10qk

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dELIA*s Inc. (DLIA) filed Quarterly Report for the period ended 2009-08-01.

Delia*s Inc. has a market cap of $81.7 million; its shares were traded at around $2.62 with and P/S ratio of 0.4.

Highlight of Business Operations:

Direct Marketing Gross Profit. Direct marketing gross profit for the quarter ended August 1, 2009 was $9.7 million or 44.1% of revenues as compared to $9.8 million or 46.7% of revenues for the quarter ended August 2, 2008. The decrease was primarily attributable to increased clearance versus full price sales.

Total Selling, General and Administrative. As a percentage of revenues, total selling, general and administrative expenses (SG&A) decreased to 47.8% for the quarter ended August 1, 2009 from 50.4% for the quarter ended August 2, 2008. In total dollars, selling, general and administrative expenses decreased $0.6 million, to $21.9 million in the quarter ended August 1, 2009 from $22.5 million in the quarter ended August 2, 2008. The improvement in SG&A expenses as a percentage of sales was a result of reduced overhead costs.

Direct Marketing Gross Profit. Direct marketing gross profit for the twenty-six weeks ended August 1, 2009 was $21.0 million or 42.9% of revenues as compared to $20.6 million or 45.8% of revenues for the twenty-six weeks ended August 2, 2008. The decrease, as a percentage of sales, was primarily attributable to increased clearance versus full price sales.

Total Selling, General and Administrative. As a percentage of revenues, total selling, general and administrative expenses (SG&A) decreased to 45.0% for the twenty-six weeks ended August 1, 2009 from 49.4% for the twenty-six weeks ended August 2, 2008. In total dollars, selling, general and administrative expenses decreased $1.2 million, to $44.0 million in the twenty-six weeks ended August 1, 2009 from $45.2 million in the twenty-six weeks ended August 2, 2008. The improvement in SG&A expenses as a percentage of sales reflects the leveraging of selling expenses on higher sales in both the retail and direct segments, as well as reduced overhead costs as a result of our recent restructuring.

Cash used in investing activities was $7.1 million in the twenty-six weeks ended August 1, 2009, compared with $7.6 million in the twenty-six weeks ended August 2, 2008. The cash used in investing activities was primarily due to capital expenditures associated with the construction of our new retail stores.

Cash used in financing activities was $0.1 million in the twenty-six weeks ended August 1, 2009, related to payments on our mortgage note payable. Cash provided by financing activities in the twenty-six weeks ended August 2, 2008 was $9.3 million, primarily related to borrowings on our Restated Credit Facility.

Read the The complete Report

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10qk
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