Home / Knowledge / News / Apparel/Garments / Delta Apparel posts 19% growth in revenue
Delta Apparel posts 19% growth in revenue
20
Jul '10
Delta Apparel, Inc. reported that for the 53-week fiscal year ended July 3, 2010 revenues increased 19% to approximately $424 million compared to $355.2 million in the 52-week fiscal year 2009.

The sales increase was driven by organic growth in each of the Company's four business units as well as full year sales from To The Game, which was acquired in the fourth quarter of the prior year. The Company expects full year 2010 earnings to be in the range of $1.37 to $1.39 per diluted share compared to $0.76 per diluted share in the prior year.

The Company plans to report fiscal 2010 full year results on Thursday, August 19, 2010 before the market opens.

Robert W. Humphreys, Chairman and Chief Executive Officer, commented, “Our fourth quarter performance was better than anticipated and represents a strong finish to another solid year of growth for Delta Apparel, Inc. In fiscal 2010 we achieved organic sales growth of 14% on top of 8% organic growth in fiscal 2009 which allowed us to exceed our full year expectations. This was particularly rewarding given the tough economic environment during the past several years.”

The Cotton Exchange
The Company also announced that it completed the previously announced acquisition of substantially all of the net assets of HPM Apparel, Inc. d/b/a The Cotton Exchange on Monday, July 12, 2010. The Cotton Exchange designs and markets decorated casual apparel to college bookstores, the U.S. military and other retail accounts.

The Cotton Exchange has a strong reputation selling USA made collegiate apparel to college bookstores under “The Cotton Exchange” brand. It also sells products under the brands of “TCX” and “Just for Us”.

The Company will continue to operate The Cotton Exchange in its current location in Wendell, North Carolina. This facility includes screen print and embroidery decoration capacity and retail packaging services, providing customers a high-level of service with quick turn-around times. The Cotton Exchange was formed in 1984 and is recognized in the industry for the quality of its garments, graphic designs, and most importantly its service to customers.

Commenting on the Company's most recent acquisition, Mr. Humphreys said, “Marking our seventh acquisition since 2003 and the third acquisition completed in the last fifteen months, The Cotton Exchange gives us another consumer recognized brand and further builds on our college licensed business.

Built on its superior service, The Cotton Exchange brings new customer relationships that should allow us to further expand revenue and earnings in our retail ready segment. Having additional domestic screen print capacity should also allow us to service more quick turn programs through our other business units. We look forward to working with the experienced management team at The Cotton Exchange as we execute our growth strategy.”

Fiscal 2011 Guidance
For the 2011 fiscal year ending July 2, 2011, the Company expects net sales to be in the range of $455 to $465 million and earnings to be in the range of $1.55 to $1.70 per diluted share. The sales outlook for fiscal 2011 includes anticipated organic growth of approximately 5% after adjusting for one less week in fiscal 2011, and approximately $25 million in additional revenues from The Cotton Exchange.


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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:
June 2017

June 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