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

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

December 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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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