Direct marketer and retailer dELiA*s, Inc. closed its previously announced sale of assets related to its CCS brand to Foot Locker, Inc. 


Upon closing, dELiA*s, Inc. received a $103.2 million cash payment from Foot Locker in exchange for all of the agreed upon assets relating to CCS, including certain intellectual property assets previously owned by Alloy, Inc. (NASDAQ: ALOY) used specifically in the CCS business. dELiA*s purchased certain intellectual property assets, together with specified media services from Alloy in exchange for aggregate consideration of approximately $9 million.


For the third quarter, dELiA*s will report the results of CCS as discontinued operations. The Board of Directors is expected to reach a final determination of the use of the net after-tax proceeds of this sale after the end of fiscal year 2008.


The company's brands – dELiA*s and Alloy – generate revenue by selling apparel, accessories, footwear and room furnishings to teenage consumers through direct mail catalogs, websites, and for dELiA*s, mall-based specialty retail stores.