Continued Trend of Quarterly Year-over-Year
Growth Exceeding Both Last Year and Pre-Pandemic
Delta Apparel, Inc. (NYSE American: DLA), a leading provider of
core activewear and lifestyle apparel products, today announced
preliminary net sales for its 2022 fiscal third quarter ended July
2, 2022.
The Company expects net sales for its June quarter to be
approximately $126 million, a 6% increase compared to the prior
year third quarter net sales of $118.7 million and mid-single digit
growth when compared to the pre-pandemic fiscal 2019 third quarter
net sales. The June quarter top line growth was led by Salt Life
Group segment net sales growth of over 25% and continued growth in
the Delta Group segment.
Robert W. Humphreys, the Company’s Chairman and Chief Executive
Officer commented, “Delta Apparel’s activewear and lifestyle
brands, including Salt Life, Soffe and Delta, continue to
demonstrate broad-based market appeal, fueling positive sales
growth in our June quarter across both our Delta and Salt Life
Group segments. Within our Delta Group, the Activewear business has
enjoyed continued success in what remains a fluid macro
environment. We further benefited from our diversified channels of
distribution and our continued ability to increase our value-added
services.
“Within our DTG2Go business, we finished the June quarter strong
and anticipate continued momentum in upcoming quarters as our
'on-demand' digital first solution brings on additional production
to meet demand and prepare for the upcoming holiday season.
“Our Salt Life Group delivered a strong sales quarter, with over
25% year-over-year growth driven by increased business in both our
retail and wholesale channels of distribution. We further invested
in Salt Life’s retail presence, opening two new locations during
the third quarter in Boca Raton, Florida and Rehoboth Beach,
Delaware, bringing the Salt Life retail operations to 20 retail
doors.”
Humphreys concluded, “We are pleased with our Delta Group and
Salt Life Group segment’s third quarter revenue and expect
continued momentum throughout the remainder of fiscal 2022. Our
diversified channels of distribution and broad customer base
combined with our vertical manufacturing platform, expanded
capability for increased value-added services and growing demand
for DTG2Go production positions us well for future growth. We look
forward to providing more information on our third quarter fiscal
2022 results and business outlook in early August.”
Full Financial Results for Third Quarter Fiscal 2022 to be
reported on August 4, 2022
Final and complete financial results for the Company’s fiscal
year 2022 third quarter ended July 2, 2022, will be released after
the market close on August 4, 2022. At 4:30 p.m. ET on that day,
the Company’s senior management will also hold a conference call to
discuss its financial results and business outlook. The Company
invites you to join the call by dialing 844-825-9789. If calling
from outside the United States, please dial 412-317-5180. A live
webcast of the conference call will be available at
www.deltaapparelinc.com. Please visit the website at least 15
minutes early to register for the teleconference webcast and
download any necessary software. A replay of the call will be
available through September 4, 2022. To access the telephone
replay, participants should dial toll-free 844-512-2921.
International callers can dial 412-317-6671. The access code for
the replay is 10168456.
About Delta Apparel, Inc.
Delta Apparel, Inc., along with its operating subsidiaries,
DTG2Go, LLC, Salt Life, LLC, and M.J. Soffe, LLC, is a
vertically-integrated, international apparel company that designs,
manufactures, sources, and markets a diverse portfolio of core
activewear and lifestyle apparel products under the primary brands
of Salt Life®, Soffe®, and Delta. The Company is a market leader in
the direct-to-garment digital print and fulfillment industry,
bringing DTG2Go technology and innovation to the supply chain of
its customers. The Company specializes in selling casual and
athletic products through a variety of distribution channels and
tiers, including outdoor and sporting goods retailers, independent
and specialty stores, better department stores and mid-tier
retailers, mass merchants and e-retailers, the U.S. military, and
through its business-to-business e-commerce sites. The Company’s
products are also made available direct-to-consumer on its websites
at www.saltlife.com, www.soffe.com and www.deltaapparel.com as well
as through its branded retail stores. The Company’s operations are
located throughout the United States, Honduras, El Salvador, and
Mexico, and it employs approximately 9,000 people worldwide.
Additional information about the Company is available at
www.deltaapparelinc.com.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain “forward-looking” statements that
involve risks and uncertainties. Any number of factors could cause
actual results to differ materially from anticipated or forecasted
results, including, but not limited to, the general U.S. and
international economic conditions; the impact of the COVID-19
pandemic and government/social actions taken to contain its spread
on our operations, financial condition, liquidity, and capital
investments, including recent labor shortages, inventory
constraints, and supply chain disruptions; significant
interruptions or disruptions within our manufacturing, distribution
or other operations; deterioration in the financial condition of
our customers and suppliers and changes in the operations and
strategies of our customers and suppliers; the volatility and
uncertainty of cotton and other raw material prices and
availability; the competitive conditions in the apparel industry;
our ability to predict or react to changing consumer preferences or
trends; our ability to successfully open and operate new retail
stores in a timely and cost-effective manner; the ability to grow,
achieve synergies and realize the expected profitability of
acquisitions; changes in economic, political or social stability at
our offshore locations in areas in which we, or our suppliers or
vendors, operate; our ability to attract and retain key management;
the volatility and uncertainty of energy, fuel and related costs;
material disruptions in our information systems related to our
business operations; compromises of our data security; significant
changes in our effective tax rate; significant litigation in either
domestic or international jurisdictions; recalls, claims and
negative publicity associated with product liability issues; the
ability to protect our trademarks and other intellectual property;
changes in international trade regulations; our ability to comply
with trade regulations; changes in employment laws or regulations
or our relationship with employees; negative publicity resulting
from violations of manufacturing standards or labor laws or
unethical business practices by our suppliers and independent
contractors; the inability of suppliers or other third-parties,
including those related to transportation, to fulfill the terms of
their contracts with us; restrictions on our ability to borrow
capital or service our indebtedness; interest rate fluctuations
increasing our obligations under our variable rate indebtedness;
the ability to raise additional capital; the impairment of acquired
intangible assets; foreign currency exchange rate fluctuations; the
illiquidity of our shares; price volatility in our shares and the
general volatility of the stock market; and the other factors set
forth in the "Risk Factors" contained in our most recent Annual
Report on Form 10-K filed with the Securities and Exchange
Commission and as updated in our subsequently filed Quarterly
Reports on Form 10-Q. Except as may be required by law, Delta
Apparel, Inc. expressly disclaims any obligation to update these
forward-looking statements to reflect events or circumstances after
the date of this press release or to reflect the occurrence of
unanticipated events.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220712005404/en/
Investors: Tom Filandro, 646-277-1235
DLAIR@icrinc.com
Media: Jessica Liddell, 203-682-8208 DLAPR@icrinc.com
Delta Apparel (AMEX:DLA)
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Delta Apparel (AMEX:DLA)
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