Delta Apparels, US-based leader in manufacturing and distribution of activewear apparel has reported a decline in sales of $71.8 million in Q3 FY20 as compared to the sales of $119.2 million during the previous year. The company has also recorded a net loss of $17.8 million in Q3 FY20 as compared to the net income of $4.9 million during the previous year.
“We are thrilled with the momentum experienced across our business segments as the US economy and our customers re-opened for business. With net sales in June tracking at nearly 90 percent of prior-year levels and with further acceleration in July, we are very encouraged by the steep recovery in recent weeks that exceeded our internal expectations,” Robert Humphreys, chairman, and chief executive officer at Delta Apparel, said in a press release.
Gross profit during Q3 FY20 fell to $3.0 million (Q3 FY19: $24.8 million). Selling, general and administrative expenses declined 15.2 percent to $15.2 million ($17.9 million). Operating loss was $21.6 million compared to an operating profit of $8.3 million in Q3 FY19.