Delia’s Dramatically Narrows Loss
Teen girls cataloger/retailer Delia’s (Nasdaq: DLIA) slashed its third-quarter net loss from $42.7 million last year to $3.1 million for the three months ended Nov. 3. As a result of the divestitures of noncore properties including TSI Soccer and Storybook Heirlooms, net sales for the quarter decreased 38%, to $32.5 million from $52.3 million last year. Still, New York-based Delia’s core multichannel sales, which include revenue from the catalog, Website, and stores, increased 19%, to $32.5 million from $27.4 million.
Chico’s FAS Posts 72% Rise in Direct Sales Women’s apparel cataloger/retailer Chico’s FAS (NYSE: CHS) posted strong results on both sides of the ledger. Third-quarter net sales increased 36%, to $94.0 million for the three months ended Nov. 3; net income rose 14%, to $8.9 million.
Net catalog and Internet sales rose 73% , to $2.7 million from $730,000 last year. Fort Myers, FL-based Chico’s attributes the growth to the company’s frequent-buyer Passport Program, which started in February 1999. Passport Program members average about six purchases from the company a year–more than twice as many as nonmember customers.