Delta Apparel Announces Stronger Than Expected First Quarter Sales
Delta Apparel, Greenville, South Carolina, recently announced preliminary sales results for its fiscal year 2022 first quarter ended January 1, 2022. The company expects overall net sales for the first quarter of fiscal 2022 to be approximately $109 million. The stronger-than-anticipated sales growth is approximately 15% higher than the $94.7 million achieved in the fiscal first quarter of the prior year.
Delta said this sales growth was driven by strong demand across all of Delta Apparel’s business units, combined with impressive manufacturing and operational performance. Higher selling prices including additional value adding steps also contributed to the sales growth achieved during the quarter.
“We are extremely pleased with the top-line results delivered this quarter, which showed strong growth over the first quarter of fiscal 2021 and also was significantly higher than the first quarter of fiscal 2019 sales,” said Robert W. Humphreys, chairman and CEO for Delta.
The Delta Group and the Salt Life Group each achieved double digit sales growth for the quarter. The Delta Group demand currently exceeds capacity in most channels of distribution. Manufacturing initiatives are expected to increase available capacity in the back half of this fiscal year. The Salt Life Group’s sales growth was approximately 25% higher than the first quarter of fiscal 2021 which was driven by strong demand from wholesale customers combined with outstanding growth in its direct to consumer channels of distribution.
“We have demonstrated over the past year Delta Apparel has a strong vertical supply chain that is diversified, reliable and delivers value adding services that are in high demand,” said Humphreys. “This combined with our unique technology and print on demand business, DTG2Go, positions us uniquely in the marketplace. Further, our high growth, high margin Salt Life branded business provides an additional platform to drive value for our shareholders while further leveraging our manufacturing, sourcing and design capabilities.”