Delta Apparel Expects Record Q1 Revenue In First Fiscal 2022 Report
In a preliminary announcement of its expected financial performance for fiscal first quarter 2022—which ends January 1, 2022—Greenville, South Carolina-headquartered supplier Delta Apparel has projected record-setting revenue levels and double-digit sales growth in all of its business units.
The company’s forecast—based on management’s initial review of operations through November 2021 and subsequently subject to potential adjustment—highlights overall net sales for the first quarter to be above $104 million, an increase of more than $9 million from the previous year’s first-quarter sales of $94.7 million. This would be record first-quarter revenue for Delta Apparel’s continuing operations, surpassing the previous highest first-quarter sales of $101.7 million achieved in fiscal 2019.
“We are extremely pleased with our strong December quarter-to-date performance which, despite continued inventory constraints, supply chain disruptions and U.S. labor shortages, is exceeding our internal expectations,” says Robert W. Humphreys, Delta Apparel’s chairman and CEO. “We believe the strong, broad-based growth we are achieving across our business units proves the benefit of our strategic model and the power of the Salt Life brand with consumers.”
Humphreys adds, “We remain optimistic that we are well positioned to achieve solid top-line growth in each of our fiscal 2022 quarters, with an opportunity to deliver double-digit growth for the full fiscal year. With the strength of our balance sheet and the overall business, we see our existing share repurchase program as a part of our capital allocation strategy, giving us the opportunity to continue to invest in Delta Apparel to maximize shareholder value for years to come.”