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Delia's Shares Rise 61% on Prospects for iTurf Internet Growth
New York, Nov. 22 (Bloomberg) -- Delia's Inc. shares rose 61 percent on prospects for strong growth at iTurf Inc., an Internet business in which the teen-clothing retailer owns a majority stake.
Delia rose 4 7/8 to 12 7/8 in trading of 2.6 million shares, almost 13 times its three-month daily average. New York-based iTurf, which runs a network of Web sites targeting 10- to 24-year- olds, rose 6 7/8, or 50 percent, to 20 5/8.
ITurf rival Alloy Online Inc. Thursday said third-quarter revenue more than doubled to $9.1 million. Investors think that bodes well for iTurf, which will report earnings next week, an analyst said.
''Delia's been a laggard for quite a while,'' said Jeffrey Klinefelter, a US Bancorp Piper Jaffray Co analyst who has a ''buy'' rating on New York-based Delia. ''It may be people are waking up to this sector -- Generation Y, the teenage demographic and e-commerce,''
ITurf, whose sites offer editorial content, chat rooms and shopping, aims to be the dominant online attraction for so-called Generation Y, an age group that's growing twice as fast as the overall population.
Its gurl.com site already is the largest online community focused on girls, the company said. It estimates about 85 percent of Generation Y will be online by 2002, compared with about 45 percent of U.S. households. |
