Generation Y marketer Delia’s Inc., reported net income of $3.2 million on net sales of $59.9 million for the fourth quarter ended January 31, 1999, as compared with net income of $2.1 million on net sales of $42.9 million for the same period last year.
For the year, Delia’s reported net income of $5.8 million on net sales of $158.4 million compared to net income of $4.4 million on net sales of $113 million for 1997.
The financial results for fiscal 1997 have been restated to reflect the results of TSI Soccer Corp., which Delia’s acquired in December 1997.
Delia’s house list of individuals who have purchased or requested a catalog as of January 31, 1999 increased to 10.7 million names (which includes about 5 million names acquired as part of the company’s Sept. 1998 acquisition of certain assets of Fulcrum Direct Inc.) from 4.2 million names at the end of fiscal 1997. The number of buyers was 6.1 million (which includes about 4 million acquired names), compared to 1.3 million a year earlier.
The company said that it expects to report a one-time gain of about $2 per share in the first quarter of fiscal 1999 related to the public offering of iTurf, its Internet subsidiary. In addition, it said that based on current business trends primarily related to sales weakness at its Screeem! young men’s subsidiary, this gain will be partially offset by a net operating loss of about $0.10 to $0.14 in the first quarter. In light of the Screeem! performance and the anticipated losses of iTurf, the company is revisiting its financial forecasts for the full year.
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