Home / Knowledge / News / Apparel/Garments / Georgia-based apparel company sees loss for third quarter
Georgia-based apparel company sees loss for third quarter
11
Apr '08
Delta Apparel Inc announced preliminary financial results for the third quarter ended March 29, 2008 and updated its current business outlook.

The Company now expects third quarter fiscal 2008 revenue to be approximately $75 million and expects a loss per diluted share in the range of ($0.05) to ($0.07), inclusive of approximately ($0.07) of textile restructuring charges per diluted share.

These restructuring costs are expected to be the final charges relating to the Company's previously announced textile restructuring plan.

These preliminary results compare to the Company's prior expectation of third quarter revenues between $84 to $88 million and diluted earnings per share in the range of $0.25 to $0.29.

Although sales in the retail-ready segment increased from the prior year third quarter, the Company did not achieve its original revenue targets for this segment due primarily to the overall slowdown of consumer demand for apparel.

As a result of the high margin contribution from this segment, the modest sales shortfall to expectations disproportionately reduced the Company's third quarter profitability.

At the same time, sales in the activewear segment were lower than in the prior year quarter and were also below expectations for both the catalog and private label channels.

While the Company believes that it is servicing its private label customers well, weakness in consumer spending is slowing the callouts of these products.

In addition, overall weak demand combined with higher energy, transportation and raw material costs are creating a difficult marketplace for undecorated tees.

Robert W. Humphreys, President and Chief Executive Officer, commented “Although we are not meeting our expectations and are not satisfied with our performance, we did see steady progress towards profitability throughout the third quarter.

This quarter should finalize the previously discussed restructuring related charges. Excluding these textile restructuring costs, our quarterly performance would have been break-even despite the tough retail environment.

Must ReadView All

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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