Delta Apparel Reports FY13 Fourth Quarter and Year-End Results
All of the company's business units other than Soffe experienced revenue growth for both the full year and fourth quarter. Excluding Soffe, higher unit sales in both the branded and basics segments were somewhat offset by lower average selling prices.
Branded Segment Review
All of the company's branded segment businesses other than Soffe experienced strong sales growth during fiscal 2013; however, the 12 percent increase in combined sales for Junkfood, The Game and Art Gun was offset by a 24 percent sales decline in the Soffe business. As such, fiscal 2013 branded segment sales declined to $219.6 million from $235.2 million in fiscal 2012. Art Gun continued its rapid growth with a 94 percent increase in sales. The Game posted an 11 percent revenue increase, driven primarily by rapid growth in the Salt Life product line, which experienced nearly 50 percent sales growth in fiscal 2013. The popular Junkfood brand grew sales 8 percent as it expanded its professional sports product line. All three of these businesses also expanded gross margins in fiscal 2013.
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