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Delta Apparel slips into red in Q1FY17
10
Feb '17
For the three months ended December 31, 2017, clothing marketer Delta Apparel slipped into the red by posting a net loss of $607,000 or $0.08 loss per diluted share, as against net income of $681,000 or $0.09 income per diluted share in the prior fiscal’s first quarter. Net sales in the reporting quarter stood at $85.3 million, down 5.4 per cent year on year.

The company said the Art Gun brand and ecommerce showed strong revenue growth in the quarter but, overall sales for the quarter were down due to the impact of Hurricane Matthew and closure of a large sports retailer.

Gross margin in the first quarter of fiscal 2017 amounted to 20.6 per cent, down marginally from 20.9 per cent in the first quarter of fiscal 2016.

In the quarter under review, operating income slipped steeply to $469,000 vis-à-vis $2.2 million in the previous fiscal’s same quarter. (AR)

Fibre2Fashion News Desk – India


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