ITurf Seeking to Make Acquisitions
ITurf Inc., an Internet retailer targeting 10- to 24-year-olds, is in discussions with several companies for possible acquisitions, its chief executive said.
New York, June 2 (Bloomberg) -- ITurf, the online unit that's 75 percent owned by Delia's Inc., is seeking to acquire companies that specialize in music, gaming, college and other areas on the Internet, Chief Executive Stephen Kahn said. ITurf could make an acquisition by the end of the year, and possibly in the next quarter, he said.
ITurf's World Wide Web sites offer teen products, kids' products, home furnishings and content for teen-age girls. An acquisition would expand the New York-based company's database and increase its market reach, Kahn said. ''We are constantly looking for new partners,'' Kahn said. ''We are looking to fill out our network at the right price.''
The company's Internet sites include droog.com, for apparel and accessories; TSISoccer.com, a store for soccer apparel and equipment; and dELiAs.com, an apparel store.
Also today, iTurf said its first-quarter revenue for the quarter ended May 1 rose to $2.62 million, from $69,000 in the year-earlier quarter. Its loss widened to $197,000, or 1 cent a share, from $53,000 a year earlier.
The shares of iTurf rose 1/4, or 1.3 percent, to 20. The company first sold its shares to the public April 8 at $22 a share.
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