Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
All three sales channels posted an increase in first quarter revenue at dELIA’s Inc., but it was the web that grew the most. E-commerce sales increased 12.8% vs. 11.1% for total revenue and 10% for retail sales.
All three sales channels posted an increase in first quarter revenue at dELIA’s Inc., but it was the web that grew the most.
For the quarter ended May 2, web sales for dELIA’s increased by 12.8% to $22.1 million from $19.6 million in the first quarter of 2008. Total sales grew year over year by 11.1% to $52.1 million from $46.9 million while retail sales increased by 10% to $25.2 million from $22.9 million. Catalog sales rose 9.3% to $4.7 million in the first quarter from $4.3 million in the prior year.
The web accounted for 42% of total sales in the first quarter and 82% of direct revenue, which increased year over year 12.6% to $26.9 million from $23.9 million. dELIA’s, No. 145 in the Internet Retailer Top 500 Guide, posted a net loss of $3.6 million in the first quarter compared with a net loss of $5.9 million in the first quarter of 2008. “Our business experienced continued positive momentum as we entered the new fiscal year with double-digit sales growth in both our retail and direct segments,” says dELIA’s CEO Robert Bernard. “In light of the current environment, we were pleased with our comparable-store sales performance and improved merchandise margin in the retail business.”