Delta Apparel Weathers Pandemic, Hurricanes in FQ1
Revenues exceeded guidance, falling just 2% in the fiscal first quarter to $94.0 million from the prior year’s $95.9 million, the company revealed in preliminary results released ahead of the ICR conference. Delta’s finished goods inventories entering the quarter were down about 20% after a 15-week manufacturing shutdown from the pandemic and two hurricanes impacting its Central American factories. The shortfall could have cost as much as $17 million in lost sales, but now stocks are beginning to stabilize. Manufacturing is returning to pre-pandemic levels, and the company expects output to normalize in 2021.
Looking ahead, DLA sees a rebound to ... Log in to view full article.