Delias’s Corp., which saw its stock price reduced to .50 cents per share today, has retained Peter J. Solomon Co. to explore strategic alternatives.
The New York-based catalog firm cautioned that there is no guarantee of a transaction.
“Our decision to explore strategic alternatives reflects the board’s commitment to maximizing shareholder value,” said CEO Stephen Kahn in a statement.
Observers have said that Delia’s has been surpassed by rival Alloy, and that the youth market is not as robust as the catalog had hoped.
Last month, the company reported a second-quarter net loss of $7 million, compared with $11 million a year ago. Sales totaled $26.2 million, compared with $26 million for the same period in 2001.
