GREENVILLE, S.C.-Delta Apparel reports its 2018 first-quarter results for the quarter ended Dec. 30, 2017.
The apparel company reports net sales of $90.3 million for the quarter, an increase of 19 percent from 2017’s first quarter. Net sales for the fiscal year 2018 first quarter saw an increase of $5.0 million, or 5.9 percent from the $85.3 million reported in 2016. Delta also cites double-digit growth in its business units; 28 percent at Soffe, 26 percent at Art Gun, and a 20 percent growth in the Activewear division.
Additionally, the organization notes improvements in gross margins from 31.1 to 37.2 percent. The company says it recognizes a “discrete provisional tax expense of $10.6 million associated with the recent United States tax reform legislation,” causing an impact of $1.45 per-share.
“With double-digit growth across the board and improved operating earnings, we are pleased with our results in what is usually our most challenging seasonal quarter,” states Robert W. Humphreys, CEO at Delta Apparel. “While the pickup in holiday demand for apparel was an encouraging development, we believe the time and effort our team devotes to marketing and omnichannel strategies, operational improvements, and cost-control initiatives were also key success drivers for us during the quarter.”
The company released full first-quarter results in a conference call on Feb. 5.
For more information, visit http://www.deltaapparelinc.com/.