NEW YORK, May 30, 2013 /PRNewswire-iReach/ -- Stocks of retailers dELiA's, Inc. (NASDAQ: DLIA) have surged over 30% in May following news of the appointment of Michael Zimmerman of Prentice Capital Management, LP, as Chairman of the Board of Directors and Tracy Gardner as Chief Creative Officer.
The soaring stock price further reflects strongly positive economic figures released in May, as National chain store sales rose 0.5% in the first two weeks of May from April, according to Redbook Research's latest indicator, released Tuesday. The conference board's consumer sentiment index climbed to 68.1 for April, surpassing the highest Bloomberg economist survey estimations. House values increased 9.3% in February from the identical time frame a year ago - the largest advance since 2006, further buttressing the economic climate.
Zimmerman has historically driven value through internal change as a catalyst, his company Prentice Capital Management has a long history of public equity investments. His appointment as CEO of dELiA's places him in an ideal position to pursue this strategy, which has rallied investors. The appointment of Tracy Gardner, an accomplished retailer with a proven track record makes a tremendous amount of knowledge and experience in brand development and omni-channel retailing available to dELiA's team.
Ms. Gardner stated, "I am thrilled to join the dELiA's team. dELiA's is a great brand, and I look forward to working with the team to build even better product and a stronger connection with our customer."
Michael Zimmerman, stated, "We are extremely pleased to have attracted such a highly talented executive to the dELiA's organization. Tracy is an exceptionally accomplished retailer with a proven track record that brings tremendous knowledge and experience in brand development and omni-channel retailing to our Company. We look forward to leveraging her strategic vision and insight."
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.
About Michael Zimmerman and Prentice Capital Management, LP
Since 2005 Michael Zimmerman and Prentice Capital have honed their investment approach focusing on the U.S. consumer and retail markets. Marrying deep fundamental research with catalyst investing, the company has achieved an outstanding history of public equity investments. For more information about the Prentice Capital hedge fund please visit: http://www.prenticecapital.com/. Michael Zimmerman & Prentice were also covered in these recent news items.
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