Nice momentum continues with DLIA.
Some notes from the Q&A on the call:
Clearance items - clearance flat or slightly down, inventories down in February due to sales of sweaters
Margin - is 33% sustainable - overhang cotton price, benefit 2nd half of year, smaller more frequent buys, less clearance, seeing benefit, expectation for continued margin improvement
100-105 stores by end of year - conversations with existing landlords - driving lot of conversation - possibly remodels or new locations, 1 or 2 potential new stores for potential 2013 openings
Long denim slowed down, cropped and short denim are doing very well, and in shirts..
Catalog - dlia cut a little less - very important to send to the customer who've bought from us, cutting on acquisition end of things
Supplemented via affiliate, remarketing, banner ads, search, email - where most of customers coming from, increasing customers at better pricing than catalog.
Great first quarter.
Disclosure: I am long DLIA.