Generation Y marketer dELiA*s Inc., New York, had fourth quarter net sales of $67.5 million, up 13% from $59.9 million in fourth quarter 1998. The company had a net loss of $1.8 million for the quarter, compared with net income of $3.2 million.
For the year, dELiA*s had net sales of $190.8 million, up 20% from $158.4 million for fiscal 1998. The company had net income of $11 million in 1998, up from $5.8 million. Much of the income gain came from the $78.1 million IPO of, and subsequent sale of stock in, its iTurf subsidiary.
The company also incurred a $23.7 million charge as a result of liquidating its Screeem! retail outlets.
“We made investments in each channel of our business and we upgraded our distribution and operating systems, which we believe will ensure the continued success of our direct marketing business, including our Internet efforts, and provide us with a solid base for retail expansion,” said company president Evan Guillemin in a statement.
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