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Delia*s Inc. has a market cap of $53 million; its shares were traded at around $1.7 with and P/S ratio of 0.2. Highlight of Business Operations: Direct Marketing Gross Profit. Direct marketing gross profit for the quarter ended October 31, 2009 was $10.9 million or 44.5% of revenues as compared to $11.3 million or 46.3% of revenues for the quarter ended November 1, 2008. The decrease was primarily attributable to increased clearance versus full price sales.
Direct Marketing Operating Loss. Direct marketing operating loss was $0.7 million for the quarter ended October 31, 2009 as compared to a loss of $1.0 million for the quarter ended November 1, 2008.
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 $0.7 million in the quarter ended October 31, 2009 and an income tax benefit of $4.4 million for the quarter ended November 1, 2008. The benefit for income taxes from continuing operations for the thirteen weeks ended November 1, 2008 included a year-to-date catch-up adjustment of $3.1 million.
Direct Marketing Gross Profit. Direct marketing gross profit for the thirty-nine weeks ended October 31, 2009 was $31.9 million or 43.4% of revenues as compared to $31.9 million or 46.0% of revenues for the thirty-nine weeks ended November 1, 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 43.0% for the thirty-nine weeks ended October 31, 2009 from 46.5% for the thirty-nine weeks ended November 1, 2008. In total dollars, selling, general and administrative expenses decreased $1.3 million, to $67.7 million in the thirty-nine weeks ended October 31, 2009 from $69.0 million in the thirty-nine weeks ended November 1, 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.
Direct Marketing Operating Loss. Direct marketing operating loss was $2.1 million for the thirty-nine weeks ended October 31, 2009 as compared to a loss of $3.5 million for the thirty-nine weeks ended November 1, 2008.
Read the The complete ReportDLIA is in the portfolios of Chuck Royce of ROYCE & ASSOCIATES.
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