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Article Date: November 2017
Word Count: 338

Delta Apparel Profit Gains for Year despite FQ4 Headwinds

Net income fell 9% to $2,099,000 from $2,305,000 in the fiscal fourth quarter ended Sep. 30 on 20% lower sales at $91,327,000 from $114,366,000 which suffered from the hurricanes and a comparison with last year that included $17 million in sales from the since-divested Junkfood brand. Gross margin declined 270 basis points to 18.2% on a higher mix of Basics sales. Despite the missing Junkfood sales, full-year 2017 net income was 17% higher at $10,511,000 compared to $8,964,000 on a 9% sales decline to $385,082,000 vs. $425,249,000. Profitability benefitted from a 50 b.p., or $9.1 million reduction in SG&A for ... Log in to view full article.


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