Delta Apparel Reports Fourth Quarter and Year-End Results
For the 2012 fourth quarter, sales in the branded segment were $57.9 million versus $60.6 million in the 2011 fourth quarter. The gains experienced by The Game, Junkfood and Art Gun in the 2012 fourth quarter were offset by the previously mentioned softness that continued in the Soffe line.
Basics Segment Review
Net sales for Delta's Basics Segment were $254.7 million in fiscal 2012, compared with $253.5 million in fiscal 2011. The slight increase was driven by the company's FunTees business, which grew 19.7 percent during 2012, offset by a 7.5 percent decrease in the Delta Catalog business during the fiscal year. The improved performance of FunTees, which had a significant improvement in operating profit, was due primarily to an increase in new customers and improved manufacturing performance. Cotton price volatility and destocking, which negatively affected net sales in the Delta Catalog business, also caused significant margin erosion in this business. Despite this, 2012 fourth quarter unit shipments of Delta Tees were up 8.0 percent over the same period in 2011, although average selling prices declined 15.1 percent from the prior year fourth quarter.
- Companies:
- Delta Apparel