NEW YORK -- (Business Wire)
dELiA*s, Inc. (NASDAQ:DLIA), a multi-channel retail
company comprised of two lifestyle brands marketing to teenage girls and
young women, today announced the Company and its Chief Executive
Officer, Walter Killough, have mutually agreed not to renew Mr.
Killough’s employment agreement. The agreement was scheduled to expire
on August 2, 2013, however, it is anticipated that he will depart from
dELiA*s on or about April 1, 2013. The Company has commenced a search
for a new Chief Executive Officer. In the event a new CEO has not been
named, Mr. Killough may agree to continue to serve as CEO of dELiA*s for
a limited period of time after April 1, 2013.
Carter S. Evans, Chairman of the Board, stated, “On behalf of the Board
of Directors, I want to thank Walter for his nine years of dedicated
service to dELiA*s. Walter has been a great leader, following through on
our strategic initiatives and positioning dELiA*s on the right course to
profitability. At this time, the Board has commenced a search for a new
CEO to lead the Company forward. Walter will continue to work with our
strong team of operators to carry forward our objectives and ensure a
Mr. Killough commented, “I want to thank the Board of Directors and the
entire dELiA*s team for their support and confidence throughout my time
here. During the search for a successor Chief Executive Officer, I will
remain focused on and actively engaged in the continued execution of our
strategic initiatives through the transition period. I am proud of what
the team has accomplished and believe that dELiA*s is a compelling
About dELiA*s, Inc.
dELiA*s, Inc. is a multi-channel retail company comprised of two
lifestyle brands marketing to teenage girls and young women. Its brands
– dELiA*s and Alloy – generate revenue by selling apparel, accessories
and footwear to consumers through websites, direct mail catalogs and
dELiA*s mall-based retail stores.
This press release may contain forward-looking statements made in
reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, 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”, “should”,
“would”, “project”, “plan”, “predict”, “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 filings with the Securities
and Exchange Commission, including our annual report on Form 10-K and
quarterly reports on Form 10-Q. 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.
David Dick, 212-590-6200
Chief Financial Officer
Source: dELiA*s, Inc.