DELTA APPAREL, INC
deltaapparelinc.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed May 9, 2024. Its latest SEC filing is a SCHEDULE 13D/A from Jan 8, 2025.
10-Q for Q2 FY2024, filed May 9, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Sells activewear and lifestyle apparel and provides on-demand digital printing and fulfillment for retailers, brands and other apparel businesses.
10-K for FY2023, filed Dec 28, 2023Delta Apparel, Inc. (collectively with DTG2Go, LLC; Salt Life, LLC; M.J. Soffe, LLC; and other subsidiaries, “Delta Apparel,” “we,” “us,”…View ↗
We are a market leader in the on-demand, direct-to-garment digital print and fulfillment industry, bringing technology and innovation to…View ↗
Our Global Brands channel serves as a key supply chain partner to large multi-national brands, major branded sportswear companies, trendy…View ↗
How Did They Make Money?
Retailers and other wholesale buyers pay for apparel shipped from the company’s distribution centers; shoppers buy from company stores and ecommerce sites. Wholesale receivables are generally collected within three months, while direct-to-consumer receipts are collected within a few days.
10-K for FY2023, filed Dec 28, 2023
$415.4M
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10-K for FY2023, filed Dec 28, 2023
$415.4M ↗
Who Were Their Customers?
Retailers, brands and other wholesale buyers purchase apparel or digital fulfillment; consumers can also buy Salt Life and Soffe products through company websites and Salt Life’s own stores. Wholesale customers include screen printers, promotional businesses and military buyers.
10-K for FY2023, filed Dec 28, 2023We are a market leader in the on-demand, direct-to-garment digital print and fulfillment industry, bringing technology and innovation to…View ↗
Our iconic Soffe brand offers activewear for spirit makers and record breakers and is widely known for the original “cheer short” with the…View ↗
Our Global Brands channel serves as a key supply chain partner to large multi-national brands, major branded sportswear companies, trendy…View ↗
Our Salt Life business is organized around three Salt Life omnichannel markets - wholesale, ecommerce, and branded retail stores – that are…View ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $33.2M in FY2023, but brought in more cash than it spent: $8.4M of free cash flow.
10-K for FY2023, filed Dec 28, 2023
−$29.4MView ↗
10-K for FY2023, filed Dec 28, 2023
−$33.2MView ↗
10-K for FY2023, filed Dec 28, 2023
$8.4MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2024, filed May 9, 2024
−$36.3MView ↗
- ▲ +419% (Loss)
- vs −$7M in Q2 FY2023
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Sep 24, 2024
Sold assets tied to the Salt Life and Soffe brands
Sources
8-K, filed Sep 24, 2024
In connection with the Chapter 11 Cases, on August 27, 2024, the Company held an auction pursuant to the Bankruptcy Court approved bidding…View ↗
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Jul 18, 2024
Ernst & Young declined reappointment as auditor
Sources
8-K, filed Jul 18, 2024
Effective July 12, 2024, Ernst & Young LLP (“Ernst & Young”) informed Delta Apparel, Inc. (the “Company”) that they will not seek to be…View ↗
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Jul 3, 2024
NYSE American began delisting proceedings for the stock
Trading was suspended.
Sources
8-K, filed Jul 3, 2024
On July 1, 2024, the Company received written notice (the “Delisting Notice”) from the staff of NYSE Regulation, Inc. (“NYSE Regulation”)…View ↗
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Jul 1, 2024
The company filed for Chapter 11 bankruptcy protection
The company and its domestic subsidiaries filed voluntary petitions.
Sources
8-K, filed Jul 1, 2024
On June 30, 2024 (the “Petition Date”), Delta Apparel, Inc. (the “Company”) and its domestic direct and indirect subsidiaries (collectively…View ↗
Held flat. Revenue was $415.4M in FY2023, about the same as the $431.7M of FY2019.
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