Delta Apparel Q3 FY20: sales $72 mn; net loss $18 mn

04 Aug '20

2 min read

Pic: Delta Apparel

Delta Apparel, a US-based provider of activewear and lifestyle apparel products, posted its third quarter (Q3) fiscal 2020 result. Sales during Q3 FY20 dropped to $71.8 million compared to sales of $119.2 million in same period last year. Net loss for the quarter ended on June 27, 2020 were $17.8 million, compared to net income of $4.9 million in Q3 FY19.

“We are thrilled with the momentum experienced across our business segments as the US economy and our customers re-opened for business. With net sales in June tracking at nearly 90 per cent of prior year levels and with further acceleration in July, we are very encouraged by the steep recovery in recent weeks that exceeded our internal expectations,” Robert Humphreys, chairman and chief executive officer at Delta Apparel, said in a press release.

“Our DTG2Go business onboarded several new customers and received additional digital print volume from existing customers to deliver over 30 per cent net sales growth for the quarter compared to prior year,” Humphreys said.

Gross profit during Q3 FY20 fell to $3.0 million (Q3 FY19: $24.8 million). Selling, general and administrative expenses declined 15.2 per cent to $15.2 million ($17.9 million). Operating loss was $21.6 million compared to operating profit of $8.3 million in Q3 FY19.

Fibre2Fashion News Desk (JL)

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