Elevated by higher prices and manufacturing efficiency, Delta Apparel Inc. reported a second-quarter profit, reversing a year-ago loss.
For the quarter ended Dec. 27, the Duluth, Ga.-based vendor said it recorded net income of $595,000, or 7 cents a diluted share, versus a net loss of $2.8 million, or 33 cents a share, a year ago. Stripping out special items in both periods, the company had earnings per share of 3 cents compared with a net loss of 18 cents a share in last year’s quarter.
Net sales were up 6.7 percent to $73.4 million from $68.8 million.
The company said retail sales from its Soffe and Junkfood businesses jumped 17 percent to $32.4 million from $27.7 million. The activewear segment, comprised of the Delta and FunTees businesses, reported sales of $41 million, which was consistent with last year’s revenue of $41.1 million.
Gross margins increased 610 basis points to 21.9 percent of sales versus 15.8 percent in the prior-year period. Delta said the second quarter of 2007 included $2 million of restructuring expenses, which lowered gross margin by about 290 basis points.
For the six months, the athletic and casual clothing maker had a profit of $1.3 million, or 15 cents a share, versus a net loss of $4.4 million, or 52 cents a share, which is inclusive of a 31-cent loss a share from restructuring costs, a year before. Revenue rose 16.6 percent to $164.8 million, from $141.3 million.
Madonna turns 59 today, marking another year of show-stopping, one-of-a-kind bold looks from the singer. To celebrate, we took a look at the superstar's most memorable fashion moments. Here, Madonna sits front row at Versace's spring runway show in 1995. See more exclusive photos from the #wwdarchive on WWD.com. #wwdeye (📷: Cédric Dordevic)
WWD asked a handful of creative directors to evaluate the September covers of leading women's fashion magazines. How do they think the covers this year compare with years gone by, and what do they say about the current status of the publication? Link in bio. (GIF by @hypebreast)
"Stephen King is such a master, but I don't like being scared - there's enough that's really scary. How about the morning's news?" says Holland Taylor in an interview with WWD. See what else the actress said about starring in the TV adaptation of King's thriller "Mr. Mercedes" on WWD.com. #wwdeye (📷: @jgreenery)