Net sales in the company’s basics segment grew 21.1 percent in the fiscal 2015 fourth quarter to $74.4 million, which was led by increases in activewear sales, the catalog business and private label sales, as well as strong showings from new products, such as fleece, Delta-Dri and snow heathers.
After adjustment for the sale of The Game, net sales for the branded segment grew 1.4 percent percent during the fourth quarter of fiscal year 2015 compared to the prior year period. On an unadjusted basis, fourth quarter net sales were $45.8 million compared with $53.5 million in the prior year period, with all business units experiencing gross margin expansion. Salt Life increased net sales by 10 percent while Junk Food grew by 7 percent, but Soffe, which achieved solid growth in the independent sporting goods channel, had an 11 percent decrease in net sales for the quarter compared with the prior year period due to a decline with big-box sporting goods retailers. Soffe expects to launch a new business-to-business website in early calendar year 2016 to enhance growth opportunities in the independent sporting goods channel.