Delta Apparel, Greenville, S.C., reported earnings per diluted share for its fiscal third quarter that ended July 2, of $0.32 on net sales of $111.6 million.
The third-quarter net sales were negatively impacted by the absence of the Kentucky Derby license and weakness in the retail environment, according to the company.
Branded segment net sales for the quarter were $39.5 million, virtually level with the prior year period after adjusting for the Kentucky Derby license sales that did not recur in 2016. The branded segment produced operating profit of $2.7 million, or 6.7% of sales, for the quarter. Salt Life, driven by strong sell-through of its spring 2016 line, continued its double-digit growth trend with 45% growth over the prior year period. The new Salt Life distribution center handled record-high shipment levels during the third quarter, according to the company.
Soffe sales declined $1.6 million for the quarter, primarily due to the soft retail environment. However, Soffe has experienced notable growth with amazon.com and its own ecommerce websites, including a 33% sales increase from its recently relaunched B2B site and a 14% increase from its B2C site. — M.Q.
