Citing lower sales volumes of branded apparel products, due in part to retail price increases, the Greenville, SC, company is preparing to take a one-time markdown of approximately $16 million worth of basic, undecorated T-shirts in its second quarter. The action will have negative impact on quarterly earnings, which will be reported on Jan. 26, of about $1.20 ($10.2 mm) a share. DLA is now forecasting an EPS loss of $1.58-1.62 ($13.6 mm) for the period. Second quarter sales are projected to be essentially flat at $105 million versus $104.6 million.

As for the FY, Delta Apparel now sees total revenues ... Log in to view full article.