Home / Knowledge / News / Apparel/Garments / Delta Apparel posts near stable sales in FY'13
Delta Apparel posts near stable sales in FY'13
29
Aug '13
Delta Apparel, Inc. reported that net sales for the fiscal year ended June 29, 2013 increased to $490.5 million from $489.9 million in fiscal 2013, marking the Company’s tenth consecutive year of record sales.

Net income for fiscal 2013 was $9.2 million, or $1.08 per diluted share, compared with a net loss in fiscal 2012 of $2.4 million, or $0.29 loss per diluted share.

The net loss in fiscal 2012 was primarily due to the previously disclosed 2012 second quarter inventory markdown in the Company’s basics segment, which was necessitated by unprecedented, record-high cotton costs.

Strong net sales gains in the Company’s basics segment along with similar growth in the Company’s Junkfood, The Game and Art Gun businesses drove the record revenue for the year. These gains were somewhat offset by softness in the Soffe business that continued through the fiscal year. In addition to the Company’s record high consolidated revenue, improved margins across most business units drove the net income gains for fiscal 2013.

For the fiscal 2013 fourth quarter, net sales were $133.6 million compared to $135.4 million for the comparable 2012 quarter. Net income for the 2013 fourth quarter was $4.0 million, or $0.48 per diluted share, compared to $4.8 million, or $0.55 per diluted share, in the 2012 fourth quarter. While operating profit for fourth quarter 2013 was higher than that of the comparable 2012 period, net income was negatively impacted by a less favorable tax treatment in the 2013 period.

All of the Company’s business units other than Soffe experienced revenue growth for both the full year and fourth quarter. Excluding Soffe, higher unit sales in both the branded and basics segments were somewhat offset by lower average selling prices.

Branded Segment Review

All of the Company’s branded segment businesses other than Soffe experienced strong sales growth during fiscal 2013; however, the 12% increase in combined sales for Junkfood, The Game and Art Gun was offset by a 24% sales decline in the Soffe business.

As such, fiscal 2013 branded segment sales declined to $219.6 million from $235.2 million in fiscal 2012. Art Gun continued its rapid growth with a 94% increase in sales. The Game posted an 11% revenue increase, driven primarily by rapid growth in the Salt Life product line, which experienced nearly 50% sales growth in fiscal 2013.

The popular Junkfood brand grew sales 8% as it expanded its professional sports product line. All three of these businesses also expanded gross margins in fiscal 2013.

For the fourth quarter, branded segment sales totaled $55.5 million versus $57.9 million in the 2012 fourth quarter. The double digit sales increases posted by The Game, Junkfood and Art Gun in the fourth quarter were more than offset by the previously mentioned softness that continued in the Soffe business.

Delta Apparel


Must ReadView All

Textiles | On 21st Aug 2017

GST payment & filing for July extended till Aug 25

The GST Implementation Committee, consisting of state and Central...

Textiles | On 21st Aug 2017

India’s cotton production may grow by 3.76% in 2016-17

India’s cotton production is likely to rise by 3.76 per cent to 345...

Textiles | On 21st Aug 2017

Telangana announces sops for textile, apparel sector

The Telangana government recently announced a string of incentives,...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search