dlia...hope to see last week's highs...
dELiA*s <DLIA.O> evaluates IPO for Internet unit
NEW YORK, Dec 9 (Reuters) - Teenage clothing retailer and direct marketer dELiA*s Inc. said Wednesday it is evaluating strategic options for its Internet business, which may include an initial public offering to increase shareholder value.
In recent months, the company, which operates retail stores and catalogs, has been expanding its Internet business with new websites, including an ad-supported network of sites geared to teenage girls called gURLNet.com.
dELiA*s' expanded Internet strategy announced last week gave the company's stock price a boost from the doldrums that lasted from September to November.
In Nasdaq trading Tuesday, its shares closed at 11-1/4. Its shares, which traded as high as 29 earlier this year, have bounced up and down from a recent high of 21-1/2 in July to a recent low of 5-13/16 in October.
dELiA*s is focusing its long-term growth on the Internet business and is broadening its electronic commerce and advertising efforts.
Judging from investors recent reaction to the company's "cool" ideas, an IPO appears to be a top strategy for its Internet business.
Coining its market "Generation Y" for ages 10 to 24, dELiA*s presence on the web includes www.dELiAs.com, www.discountdomain.com, www.TSIsoccer.com, www.Droog.com and www.ContentsOnline.com as well as the www.gURL.com community websites.
Combined, the sites are generating in excess of 20 million monthly page views.
In its third quarter ended Oct. 31, net income was $747,000 or $0.05 a share compared to $1.6 million or $0.12 per share on a diluted basis a year ago.
09:15 12-09-98 |
