NEW YORK--(BUSINESS WIRE)--Feb. 16, 2006--dELiA*s, Inc. (NASDAQ:
DLIA), a direct marketing and retail company comprised of three
lifestyle brands primarily targeting consumers between the ages of 12
and 19, today announced that it has named Carter Evans, age 56, as an
independent member of its board of directors.
Mr. Evans is a Managing Director with Alvarez & Marsal, LLC, a New
York-based provider of specialized debtor management and advisory
services, a position he has held since January 1995. Prior to joining
Alvarez & Marsal, Mr. Evans had over twenty years experience in
workouts and turnarounds serving in various capacities at Chemical
Bank and later Lehman Brothers. He presently serves as a member of the
Board of Directors of Timex Group, and has previously served on the
boards of Pratt-Read Corp. and the successor to US Financial. During
his career, Mr. Evans has served as President of the Arrow Shirt
Company and Arrow International (both part of Cluett American Group).
He was also actively involved in the restructurings of Chrysler,
International Harvester, Federated Department Stores, Allied Stores
and General Homes. Mr. Evans earned his BBA from Emory University in
Robert E. Bernard, Chief Executive Officer of dELiA*s, Inc.,
commented, "We are very pleased to welcome Carter to our board of
directors as we continue to build an extremely knowledgeable and
capable leadership team for our company. Carter's wide experience and
deep understanding of core fundamental business issues and structural
finance, coupled with his background and expertise in the retailing
and apparel sectors, should serve us well. We look forward to
benefiting from his guidance and insight as we focus our efforts on
growing our brands and our businesses in order to create value for
both our consumers and our shareholders."
Additionally, dELiA*s reported that it has completed its
previously announced rights offering. Stockholders exercised
subscription rights to purchase 2,040,570 shares of dELiA*s common
stock, of the 2,691,790 shares offered in the rights offering, at a
subscription price of $7.43 per share, raising a total of $15,161,435.
The remaining 651,220 shares are expected to be purchased by MLF
Investments, LLC or its affiliates, on or prior to February 24, 2006
at the same $7.43 per share, pursuant to the backstop agreement
between dELiA*s and MLF, resulting in aggregate gross proceeds to the
company of $20 million.
About dELiA*s, Inc.
dELiA*s, Inc. is a direct marketing and retail company comprised
of three lifestyle brands primarily targeting consumers between the
ages of 12 and 19. It's brands - dELiA*s, Alloy and CCS - generate
revenue by selling apparel, accessories, footwear, room furnishings
and action sports equipment predominantly to teenage consumer through
direct mail catalogs, websites and, for dELiA*s, mall-based specialty
Safe Harbor Language
This announcement may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, including statements
regarding our expectations and beliefs regarding our future results or
performance. Because these statements apply to future events, they are
subject to risks and uncertainties. When used in this announcement,
the words "anticipate", "believe", "estimate", "expect",
"expectation", "project" and "intend" and similar expressions are
intended to identify such forward-looking statements. Our actual
results could differ materially from those projected in the
forward-looking statements. Additionally, you should not consider past
results to be an indication of our future performance. For a
discussion of risk factors that may affect our results see the "Risk
Factors That May Affect Future Results" section of our Registration
Statement on Form S-1, which is on file with the Securities and
Exchange Commission. We do not intend to update any of the
forward-looking statements after the date of this announcement to
conform these statements to actual results, to changes in management's
expectations or otherwise, except as may be required by law.
CONTACT: dELiA*s, Inc.
John Holowko, 212-807-9060
Integrated Corporate Relations, Inc.
Chad Jacobs / James Palczynski, 203-682-8200
SOURCE: dELiA*s, Inc.