Photo: Sleeping On Stones via Flickr
Retailer and catalogue company Delia’s is up around 4% after news came out that it was putting itself up for sale late last night.The company, which has about 115 mall-based stores in 33 states, has had some interest from prospective buyers including private equity firms. It also may try to raise capital.
The company has a market value close to $60 million.
- Its net losses reached $22.3 million in the first three quarters of 2010
- Same-store sales declined 0.4% in the third quarter but that was an improvement from 2009
The store has faced stiff competition from teen retailers H&M and Forever 21 which have cheaper prices as well as retail superstar Abercrombie & Fitch.
Analysts have also criticised the company for not using social media to its full extent to help attract its young customer base.