Delia’s Posts Sharp Income Drop

Delia’s Inc. posted net income of $12,000 for the third quarter, a decrease from net income of $3.3 million in the prior year.

The direct marketer and retailer attributed these results to increased markdowns and higher retail occupancy costs as a percentage of sales as well as to catalog circulation cuts.

The New York company reported revenue of $71.2 million for the quarter ended Nov. 3, a 5.5% increase over revenue of $67.5 million last year.

The firm posted operating income for its direct segment of $3.1 million for the quarter, a decline from $3.5 million last year.