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Article Date: February 2024
Word Count: 296

Delta Apparel Sinks Deeper Into Red Ink


Net loss widened 139% to $8,527,000 in the fiscal first quarter ended Dec. 1 from a loss of $3,565,000 prior, on sales that were down 26% to $79,934,000 from $107,295,000. The bottom line was hit hard by fixed costs deleverage from running factories below capacity, and a 24% jump in interest expense to $3.6 million as higher rates more than offset a 20% reduction in debt compared to last year. Inventory has been worked down by 24% from last year to $196.3 million, helping pay down debt.

 

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