Michael Zimmerman, CEO of Prentice Capital Management recently announced that they recently took position in dELiA*s stock. Prentice Capital raised their stake in dELiA*s to 8.11% from 6.79% through the recent purchase.
Online PR News – 13-November-2010 – – New York, NY ( onlineprnews ) November 11, 2010 - Michael Zimmerman, CEO of Prentice Capital Management recently announced that they recently took position in dELiA*s stock. Prentice Capital raised their stake in dELiA*s to 8.11% from 6.79% through the recent purchase.
Michael Zimmerman and Prentice Capital have an outstanding history of public equity investments in the U.S. consumer and retail sectors. In 2005, Michael Zimmerman added a long history of successfully marrying deep fundamental research with catalyst investing when he joined Prentice Capital in 2005. Michael Zimmerman’s past combined with Prentice Capital’s specialized proprietary research platform allows Michael Zimmerman and Prentice Capital success in consumer and retail sector investments.
The amount of dELiA*s shares, totaling 412,110, were purchased September 8-14, 2010 and ranged from $1.4863 to $1.7196 per share. This raises Prentice Capitalto 2.54 M of shares dELiA*s
The multi-channel retailer sells trendy clothing, accessories, and home furnishings to teenage girls through about 110 dELiA*s stores, a catalog, and its website. The stores, located in more than 30 states along the East Coast and in the Midwest, offer apparel and accessories under the dELiA*s and to a lesser extent national brands.
PRENDEL, a company managed by Michael Zimmerman and Prentice Capital, purchased the shares of Common Stock in dELiA*s. Prentice Capital Management serves as the manager of PRENDEL and has the authority to vote and dispose of all securities owned by PRENDEL, including the shares of Common Stock in dELiA*s. As a result, Prentice Capital Management may be deemed to be the beneficial owner of the shares of dELiA*s Common Stock reported in the Amendment No. 1 to the Schedule 13D.
Michael Zimmerman is the managing member of the general partner of Prentice Capital Management. As a result, Mr. Zimmerman may be deemed to be control Prentice Capital Management and PRENDEL and therefore may be deemed to be the beneficial owner of the shares of Common Stock reported.
Amendment No. 1 to the Schedule 13D was filed on September 15, 2010 and can be viewed online here, http://google.brand.edgaronline.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=7462566-1460-20881&SessionID=PfNbHjaYAmr9077
About Prentice Capital Management
Prentice Capital Management focuses on public equity investments in the U.S. consumer and retail sectors. Since its inception in 2005 by Michael Zimmerman, Prentice Capital has embraced a fundamental-driven, value-oriented investment philosophy fueled by the company’s specialized proprietary research platform. Prentice Capital Management is also responsible for the successful Prentice Capital Hedge Fund. From 2000 to 2005, Michael Zimmerman managed a U.S. consumer and retail portfolio at S.A.C. Capital that mirrored the investment strategy currently pursued by Prentice Capital. Prior to S.A.C Capital., Michael Zimmerman invested in consumer and retail stocks at both Omega Advisors and Lazard Asset Management.
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