Delia’s Corp. reported a sales gain—and a higher net loss—for its first quarter.
The multi-channel retailer, which targets teenage girls and young women, posted revenue of $29.5 million, compared with $28.8 million for the same period last year. The quarter ended May 3.
But the firm’s net loss grew from $4.3 million last year to $7.3 million.
This included finance charges related to a bank line of $1.2 million.
Direct sales fell by 12% following a 22% reduction in catalog circulation. Retail sales grew by 21%, primarily because of new store openings.
CEO Stephen Kahn said in a statement that the quarter showed “a positive reversal in performance in all channels of business as compared to the preceding two quarters.”
Kahn added that the firm is now negotiating a refinancing of the $3 million mortgage on its Hanover, PA distribution facility.
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