GREENVILLE, S.C.-Delta Apparel announces its preliminary first-quarter results for the 2018 fiscal first quarter ended Dec. 30, 2017.
The company says it expects net sales for the first quarter to fall in the $88-$90 million range, an approximately 3-5 percent increase from 2016’s first quarter, which totaled $85.3 million in revenue. Delta also estimates a 16-18 percent sales growth after adjusting for the $9.4 million in revenue in the prior year quarter from the company’s recently divested Junkfood Clothing brand. In addition to revenue estimates, the report cites double-digit sales growth over the prior in each of Delta’s business units.
“We are extremely pleased with our strong start to fiscal year 2018,” says Robert W. Humphreys, CEO of Delta Apparel. “Our double-digit revenue growth and expected profitability in our seasonally slowest quarter reflects solid execution within each of our businesses and builds upon our strong finish to fiscal year 2017.”
Humphreys adds that the company’s various brands continue to “resonate with consumers and the new Salt Life and Soffe retail stores opened during the quarter provide exciting brand-building and consumer awareness opportunities in key markets for those businesses.”
The company continued to repurchase its shares during the quarter, amassing 145,000 shares at a total cost of $3 million, or $20.69 average price-per-share. As of Dec. 30, 2017, Delta reports 7.2 million shares outstanding.
The company plans to share a full report of its earnings in a conference call on Feb. 5 at 4:30 p.m. EST.
For more information, visit www.deltaapparelinc.com.