Delta Apparel, Inc. (DLA), a provider of core activewear and lifestyle apparel products, on Thursday announced preliminary results for the third quarter, expecting net sales of about $118 million, implying 65 percent growth over third quarter of fiscal 2020.
Considering the stronger sales, higher gross margins and continued leverage of general and administrative expenses, the company expects earnings of over $0.90 per share.
The company said its Salt Life Group revenue surged across all sales channels, with the direct-to-consumer sales channel recording growth in excess of 150 percent compared to the third quarter of fiscal 2019. Delta Activewear also outperformed sales expectations, with strong demand from retail license and brand direct customers, it added.
The company continues to expect high demand from large retail and global brand partners within the segment. The third quarter financial results are scheduled to be released on August 5.
On Wednesday, the shares of Delta Apparel closed at $30.15, down $0.23 or 0.76 percent from previous close.
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