USA: dELiA*s And iTurf Complete Merger
dELiA*s (Nasdaq: DLIA) and iTurf (Nasdaq: TURF) today announced that they have completed their merger, forming the leading direct marketer to teens in terms of catalog and e-commerce sales, as well as online community membership. The combined company has been renamed dELiA*s Corp, and the stock will trade on Nasdaq under the ticker symbol "DLIA" beginning December 19. In the interim, the stock will trade under the symbol "DLIAD." The transaction will be accounted for as a purchase by dELiA*s of the minority interest in iTurf held by the public. Stephen Kahn, who served as chairman and CEO of both dELiA*s and iTurf and now serves in the same capacity at the new company, said: "The recombination of dELiA*s and iTurf creates a leading teen-oriented company with a focus on two core businesses - multi-channel retailing under the dELiA*s brand, and iTurf's online media businesses. We believe the merger enhances our focus on these core assets and positions us well for profitable growth in the future." Evan Guillemin will continue in his role as president, where he will oversee the dELiA*s-branded business. Dennis Goldstein, formerly CFO of iTurf, has been named CFO of dELiA*s Corp. Jim Cooper, formerly the CFO of dELiA*s Inc, has left the company to pursue other opportunities.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Trump and the apparel industry – Infographic
- $1.7bn package to boost Pakistan clothing exports
- Mexico riots hit apparel retailers and shipments
- Outlook 2017 – What next for apparel sourcing?
- Is China about to burst its apparel trade bubble?
- Cambodia clothing exports at risk from Brexit
- MAS Holdings planning second industrial park
- Apparel brands urge Bangladesh PM to address wages
- American Apparel to shutter all stores?
- JC Penney latest retailer to shutter stores?
- Global apparel markets: product developments and innovations, October 2016
- Anti-odour clothing: fresh fashion for an active lifestyle
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022