Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Jun. 29, 2019 | Jul. 19, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | DELTA APPAREL, INC | |
Entity Central Index Key | 0001101396 | |
Trading Symbol | dla | |
Current Fiscal Year End Date | --09-28 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 6,921,417 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 29, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 29, 2019 | Sep. 29, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 371 | $ 460 |
Accounts receivable, net | 67,200 | 45,605 |
Other receivables | 1,563 | 1,274 |
Income tax receivable | 38 | |
Inventories, net | 177,779 | 174,983 |
Note receivable | 100 | |
Prepaid expenses and other current assets | 3,384 | 2,962 |
Total current assets | 250,297 | 225,422 |
Property, plant and equipment, net of accumulated depreciation of $79,954 and $74,018, respectively | 58,422 | 52,114 |
Goodwill | 37,897 | 33,217 |
Intangibles, net | 22,060 | 20,498 |
Deferred income taxes | 1,053 | 1,374 |
Equity method investment | 10,038 | 8,980 |
Other assets | 1,658 | 2,004 |
Total assets | 381,425 | 343,609 |
Current liabilities: | ||
Accounts payable | 48,235 | 48,008 |
Accrued expenses | 16,834 | 16,742 |
Income taxes payable | 593 | |
Current portion of contingent consideration | 2,790 | 638 |
Current portion of capital lease financing | 6,084 | 3,846 |
Current portion of long-term debt | 7,040 | 6,577 |
Total current liabilities | 81,576 | 75,811 |
Long-term taxes payable | 3,492 | 4,259 |
Long-term contingent consideration, less current maturities | 6,604 | 9,904 |
Long-term capital lease financing, less current maturities | 13,012 | 9,302 |
Long-term debt, less current maturities | 123,236 | 92,083 |
Deferred income taxes | 2,036 | 2,132 |
Other non-current liabilities | 1,184 | |
Total liabilities | 231,140 | 193,491 |
Shareholders’ equity: | ||
Preferred stock—$0.01 par value, 2,000,000 shares authorized, none issued and outstanding | ||
Common stock —$0.01 par value, 15,000,000 shares authorized, 9,646,972 shares issued, and 6,921,417 and 6,909,446 shares outstanding as of June 29, 2019, and September 29, 2018, respectively | 96 | 96 |
Additional paid-in capital | 59,602 | 61,979 |
Retained earnings | 133,414 | 128,695 |
Accumulated other comprehensive (loss) income | (887) | 136 |
Treasury stock —2,725,555 and 2,737,526 shares as of June 29, 2019, and September 29, 2018, respectively | (41,750) | (40,881) |
Equity attributable to Delta Apparel, Inc. | 150,475 | 150,025 |
Equity attributable to non-controlling interest | (190) | 93 |
Total equity | 150,285 | 150,118 |
Total liabilities and equity | $ 381,425 | $ 343,609 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 29, 2019 | Sep. 29, 2018 |
Allowances for accounts receivable | $ 506 | $ 1,475 |
Property, plant and equipment, accumulated deprecation | $ 79,954 | $ 74,018 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 15,000,000 | 15,000,000 |
Common stock, shares issued (in shares) | 9,646,972 | 9,646,972 |
Common stock, shares outstanidng (in shares) | 6,921,417 | 6,909,446 |
Treasury stock (in shares) | 2,725,555 | 2,737,526 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 29, 2019 | Jun. 30, 2018 | Jun. 29, 2019 | Jun. 30, 2018 | |
Net sales | $ 119,260 | $ 112,182 | $ 323,773 | $ 302,528 |
Cost of goods sold | 94,470 | 87,919 | 261,505 | 239,660 |
Gross profit | 24,790 | 24,263 | 62,268 | 62,868 |
Selling, general and administrative expenses | 17,931 | 17,936 | 51,771 | 49,654 |
Other income, net | (1,477) | (341) | (574) | (805) |
Operating income | 8,336 | 6,668 | 11,071 | 14,019 |
Interest expense, net | 1,989 | 1,522 | 5,739 | 4,207 |
Income before provision for income taxes | 6,347 | 5,146 | 5,332 | 9,812 |
Provision for income taxes | 1,510 | 596 | 896 | 11,583 |
Consolidated net income (loss) | 4,837 | 4,550 | 4,436 | (1,771) |
Less: Net loss attributable to non-controlling interest | (89) | (283) | ||
Net income (loss) attributable to shareholders | $ 4,926 | $ 4,549 | $ 4,719 | $ (1,771) |
Basic income (loss) per share (in dollars per share) | $ 0.71 | $ 0.64 | $ 0.68 | $ (0.25) |
Diluted income (loss) per share (in dollars per share) | $ 0.70 | $ 0.62 | $ 0.67 | $ (0.25) |
Weighted average number of shares outstanding (in shares) | 6,928 | 7,116 | 6,931 | 7,193 |
Dilutive effect of stock awards (in shares) | 152 | 272 | 134 | |
Weighted average number of shares assuming dilution (in shares) | 7,080 | 7,388 | 7,065 | 7,193 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 29, 2019 | Jun. 30, 2018 | Jun. 29, 2019 | Jun. 30, 2018 | |
Net income (loss) attributable to shareholders | $ 4,926 | $ 4,549 | $ 4,719 | $ (1,771) |
Other comprehensive (loss) income related to unrealized (loss) gain on derivatives, net of income tax | (394) | 100 | (1,023) | 302 |
Consolidated comprehensive income (loss) | $ 4,532 | $ 4,650 | $ 3,696 | $ (1,469) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Sep. 30, 2017 | 9,646,972 | 2,346,675 | |||||
Balance at Sep. 30, 2017 | $ 96 | $ 61,065 | $ 127,358 | $ (35) | $ (32,597) | $ 155,887 | |
Net earnings | (9,956) | (9,956) | |||||
Other comprehensive income | 86 | 86 | |||||
Vested stock awards (in shares) | (72,201) | ||||||
Vested stock awards | (1,647) | $ 702 | (945) | ||||
Stock based compensation | 438 | 438 | |||||
Purchase of common stock | (3,000) | (3,000) | |||||
Net income (loss) attributable to shareholders | (9,956) | (9,956) | |||||
Balance (in shares) at Dec. 30, 2017 | 9,646,972 | 2,419,598 | |||||
Balance at Dec. 30, 2017 | $ 96 | 59,856 | 117,402 | 51 | $ (34,895) | 142,510 | |
Balance (in shares) at Sep. 30, 2017 | 9,646,972 | 2,346,675 | |||||
Balance at Sep. 30, 2017 | $ 96 | 61,065 | 127,358 | (35) | $ (32,597) | 155,887 | |
Net earnings | (1,771) | ||||||
Net income (loss) attributable to shareholders | (1,771) | ||||||
Less: Net loss attributable to non-controlling interest | |||||||
Balance (in shares) at Jun. 30, 2018 | 9,646,972 | 2,556,910 | |||||
Balance at Jun. 30, 2018 | $ 96 | 61,318 | 125,581 | 267 | $ (37,552) | 149,710 | |
Balance (in shares) at Dec. 30, 2017 | 9,646,972 | 2,419,598 | |||||
Balance at Dec. 30, 2017 | $ 96 | 59,856 | 117,402 | 51 | $ (34,895) | 142,510 | |
Net earnings | 3,630 | 3,630 | |||||
Other comprehensive income | 116 | 116 | |||||
Stock based compensation | 705 | 705 | |||||
Purchase of common stock | (1,463) | (1,463) | |||||
Net income (loss) attributable to shareholders | 3,630 | 3,630 | |||||
Purchase of common stock (in shares) | 74,934 | ||||||
Balance (in shares) at Mar. 31, 2018 | 9,646,972 | 2,494,532 | |||||
Balance at Mar. 31, 2018 | $ 96 | 60,561 | 121,032 | 167 | $ (36,358) | 145,498 | |
Net earnings | 4,549 | 4,549 | |||||
Other comprehensive income | 100 | 100 | |||||
Vested stock awards (in shares) | (922) | ||||||
Vested stock awards | (20) | $ 16 | (4) | ||||
Stock based compensation | 777 | 777 | |||||
Purchase of common stock | (1,210) | (1,210) | |||||
Net income (loss) attributable to shareholders | 4,549 | 4,549 | |||||
Purchase of common stock (in shares) | 63,300 | ||||||
Less: Net loss attributable to non-controlling interest | |||||||
Balance (in shares) at Jun. 30, 2018 | 9,646,972 | 2,556,910 | |||||
Balance at Jun. 30, 2018 | $ 96 | 61,318 | 125,581 | 267 | $ (37,552) | $ 149,710 | |
Balance (in shares) at Sep. 29, 2018 | 9,646,972 | 2,737,526 | 6,909,446 | ||||
Balance at Sep. 29, 2018 | $ 96 | 61,979 | 128,695 | 136 | $ (40,881) | 93 | $ 150,118 |
Net earnings | (1,156) | (1,156) | |||||
Other comprehensive income | (372) | (372) | |||||
Vested stock awards (in shares) | (153,472) | ||||||
Vested stock awards | (3,980) | $ 1,866 | (2,114) | ||||
Stock based compensation | 664 | 664 | |||||
Purchase of common stock | (1,709) | (1,709) | |||||
Net income (loss) attributable to shareholders | (1,156) | (1,156) | |||||
Purchase of common stock (in shares) | 92,148 | ||||||
Less: Net loss attributable to non-controlling interest | (76) | (76) | |||||
Balance (in shares) at Dec. 29, 2018 | 9,646,972 | 2,676,202 | |||||
Balance at Dec. 29, 2018 | $ 96 | 58,663 | 127,539 | (236) | $ (40,724) | 17 | $ 145,355 |
Balance (in shares) at Sep. 29, 2018 | 9,646,972 | 2,737,526 | 6,909,446 | ||||
Balance at Sep. 29, 2018 | $ 96 | 61,979 | 128,695 | 136 | $ (40,881) | 93 | $ 150,118 |
Net earnings | 4,719 | ||||||
Net income (loss) attributable to shareholders | 4,719 | ||||||
Less: Net loss attributable to non-controlling interest | $ (283) | ||||||
Balance (in shares) at Jun. 29, 2019 | 9,646,972 | 2,725,555 | 6,921,417 | ||||
Balance at Jun. 29, 2019 | $ 96 | 59,602 | 133,414 | (887) | $ (41,750) | (190) | $ 150,285 |
Balance (in shares) at Dec. 29, 2018 | 9,646,972 | 2,676,202 | |||||
Balance at Dec. 29, 2018 | $ 96 | 58,663 | 127,539 | (236) | $ (40,724) | 17 | 145,355 |
Net earnings | 940 | 940 | |||||
Other comprehensive income | (257) | (257) | |||||
Stock based compensation | 463 | 463 | |||||
Purchase of common stock | (717) | (717) | |||||
Net income (loss) attributable to shareholders | 940 | 940 | |||||
Purchase of common stock (in shares) | 35,353 | ||||||
Less: Net loss attributable to non-controlling interest | (117) | (117) | |||||
Balance (in shares) at Mar. 30, 2019 | 9,646,972 | 2,711,555 | |||||
Balance at Mar. 30, 2019 | $ 96 | 59,126 | 128,479 | (493) | $ (41,441) | (100) | 145,667 |
Net earnings | 4,935 | 4,926 | |||||
Other comprehensive income | (394) | (394) | |||||
Stock based compensation | 476 | 476 | |||||
Purchase of common stock | (309) | (309) | |||||
Net income (loss) attributable to shareholders | 4,935 | $ 4,926 | |||||
Purchase of common stock (in shares) | 14,000 | 14,000 | |||||
Less: Net loss attributable to non-controlling interest | (90) | $ (89) | |||||
Balance (in shares) at Jun. 29, 2019 | 9,646,972 | 2,725,555 | 6,921,417 | ||||
Balance at Jun. 29, 2019 | $ 96 | $ 59,602 | $ 133,414 | $ (887) | $ (41,750) | $ (190) | $ 150,285 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Jun. 29, 2019 | Jun. 30, 2018 | |
Operating activities: | ||
Consolidated net loss | $ 4,436 | $ (1,771) |
Depreciation and amortization | 8,728 | 7,398 |
Amortization of deferred financing fees | 234 | 229 |
Provision for deferred income taxes | 225 | 3,514 |
Non-cash stock compensation | 1,603 | 1,914 |
Other, net | (1,642) | (300) |
Loss on disposal of equipment | 18 | 62 |
Changes in operating assets and liabilities, net of effect of acquisition: | ||
Accounts receivable, net | (20,700) | (14,222) |
Inventories, net | (1,669) | 6,096 |
Prepaid expenses and other assets | (236) | (1,019) |
Other non-current assets | (71) | (247) |
Accounts payable | 209 | (2,279) |
Accrued expenses | 110 | (2,098) |
Income taxes | (136) | 8,057 |
Other liabilities | 344 | (1,355) |
Net cash (used in) provided by operating activities | (8,547) | 3,979 |
Investing activities: | ||
Purchases of property and equipment, net | (4,211) | (4,313) |
Proceeds from sale of Junkfood assets | 1,946 | |
Proceeds from sale of fixed assets | 5,779 | |
Investment in partnership | (300) | |
Cash paid for business | (4,599) | (11,350) |
Net cash used in investing activities | (8,810) | (8,238) |
Financing activities: | ||
Proceeds from long-term debt | 356,141 | 346,218 |
Repayment of long-term debt | (330,359) | (334,059) |
Repayment of capital financing | (3,041) | (1,461) |
Payment of contingent consideration | (564) | |
Payment of deferred financing fees | 2 | |
Repurchase of common stock | (2,796) | (5,673) |
Payment of withholding taxes on stock awards | (2,113) | (947) |
Net cash provided by financing activities | 17,268 | 4,080 |
Net decrease in cash and cash equivalents | (89) | (179) |
Cash and cash equivalents at beginning of period | 460 | 572 |
Cash and cash equivalents at end of period | 371 | 393 |
Supplemental cash flow information: | ||
Non-cash financing activity - seller financing | 5,000 | |
Non-cash financing activity - capital lease agreements | $ 9,693 | $ 9,131 |
Note A - Basis of Presentation
Note A - Basis of Presentation and Description of Business | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Note A—Basis of Presentation and Description of Business We prepared the accompanying interim Condensed Consolidated Financial Statements in accordance with the instructions for Form 10 10 X. not three nine June 29, 2019 not may September 28, 2019. June December 10 September 29, 2018 , filed with the United States Securities and Exchange Commission (“SEC”). “Delta Apparel”, the “Company”, “we”, “us” and “our” are used interchangeably to refer to Delta Apparel, Inc. together with our domestic wholly-owned subsidiaries, including M.J. Soffe, LLC (“Soffe”), DTG2Go, “DTG2Go” October 8, 2018, Delta Apparel, Inc. is an international apparel design, marketing, manufacturing and sourcing company that features a diverse portfolio of core activewear and lifestyle apparel products. We specialize in selling casual and athletic products through a variety of distribution channels and distribution tiers, including department stores, mid and mass channels, e-retailers, sporting goods and outdoor retailers, independent and specialty stores, and the U.S. military. Our products are also made available direct-to-consumer on our websites and in our branded retail stores. We believe this diversified distribution allows us to capitalize on our strengths to provide casual activewear to a broad and evolving customer base whose shopping preferences may As a vertically-integrated manufacturer, we design and internally manufacture the majority of our products, which allows us to offer a high degree of consistency and quality, leverage scale efficiencies, and react quickly to changes in trends within the marketplace. We have manufacturing operations located in the United States, El Salvador, Honduras and Mexico, and use domestic and foreign contractors as additional sources of production. Our distribution facilities are strategically located throughout the United States to better serve our customers with same-day shipping on our catalog products and weekly replenishments to retailers. We were incorporated in Georgia in 1999 322 29601 864 232 5200 52 53 September 30. 2019 52 September 29, 2019 2018 52 September 29, 2018 |
Note B - Accounting Policies
Note B - Accounting Policies | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note B—Accounting Policies Our accounting policies are consistent with those described in our Significant Accounting Policies in our Annual Report on Form 10 September 29, 2018 |
Note C - New Accounting Standar
Note C - New Accounting Standards | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Note C—New Accounting Standards Recently Adopted Standards In May 2014, No. 2014 09, Revenue from Contracts with Customers 2014 09" 2014 09 December 15, 2017, December 15, 2016. 2014 09 September 30, 2018, 2014 09 Our revenue streams consist of wholesale, direct-to-consumer ecommerce and retail stores which are included in our Condensed Consolidated Statements of Operations. The table below identifies the amount and percentage of net sales by distribution channel (in thousands): Three Months Ended June 29, 2019 June 30, 2018 $ % $ % Retail $ 1,296 1 % $ 986 1 % Direct-to-consumer ecommerce 1,419 1 % 1,503 1 % Wholesale 116,545 98 % 109,693 98 % Net Sales $ 119,260 100 % $ 112,182 100 % Nine Months Ended June 29, 2019 June 30, 2018 $ % $ % Retail $ 3,180 1 % $ 2,602 1 % Direct-to-consumer ecommerce 3,990 1 % 3,974 1 % Wholesale 316,603 98 % 295,952 98 % Net Sales $ 323,773 100 % $ 302,528 100 % The table below provides net sales by reportable segment (in thousands) and the percentage of net sales by distribution channel for each reportable segment: Third Quarter Fiscal Year 2019 Net Sales Retail Ecommerce Wholesale Delta Group $ 107,409 0.3 % 0.3 % 99.4 % Salt Life Group 11,851 8.6 % 9.0 % 82.4 % Total $ 119,260 Third Quarter Fiscal Year 2018 Net Sales Retail Ecommerce Wholesale Delta Group $ 102,107 0.3 % 0.3 % 99.4 % Salt Life Group 10,075 7.3 % 11.3 % 81.4 % Total $ 112,182 Year To Date Fiscal Year 2019 Net Sales Retail Ecommerce Wholesale Delta Group $ 291,325 0.3 % 0.3 % 99.4 % Salt Life Group 32,448 7.1 % 9.3 % 83.6 % Total $ 323,773 Year To Date Fiscal Year 2018 Net Sales Retail Ecommerce Wholesale Delta Group $ 272,157 0.4 % 0.3 % 99.3 % Salt Life Group 30,371 5.8 % 10.1 % 84.1 % Total $ 302,528 Revenue is recognized when performance obligations under the terms of the contracts are satisfied. Our performance obligation primarily consists of delivering products to our customers. Control is transferred upon providing the products to customers in our retail stores, upon shipment of our products to the consumers from our ecommerce sites, and upon shipment from our distribution centers to our customers in our wholesale operations. Once control is transferred to the customer, we have completed our performance obligation. Our receivables resulting from wholesale customers are generally collected within two In certain areas of our wholesale business, we offer discounts and allowances to support our customers. Some of these arrangements are written agreements, while others may not may not In accordance with the new revenue guidance, we only recognize revenue to the extent that it is probable that we will not We have made accounting policy elections related to the new revenue recognition standard. We exclude any taxes collected from customers that are remitted to taxing authorities from net sales. We record shipping and handling charges incurred by us before and after the customer obtains control as a fulfillment cost rather than an additional promised service. Our customers' terms are less than one not not one not With the adoption of ASU 2014 09, no June 29, 2019 As Reported June 29, 2019 Effect of Standard Balances without Adoption Accounts receivable, net $ 67,200 $ (748 ) $ 66,452 Prepaid expenses and other current assets 3,384 (166 ) 3,218 Total Current Assets 250,297 (914 ) 249,383 Total assets 381,425 (914 ) 380,511 Accrued liabilities 16,834 (1,163 ) 15,671 Total current liabilities 81,576 (1,163 ) 80,413 Total liabilities 231,140 (1,163 ) 229,977 Total liabilities and equity 381,425 (1,163 ) 380,262 In August 2016, No. 2016 15, Statement of Cash Flows (Topic 230 " 2016 15" 2016 15 2016 15 December 15, 2017, 2016 15 September 30, 2018. March $0.6 2016 15, $0.1 $0.5 Standards Not In February 2016, No. 2016 02, Leases, 2016 02" 2016 02 2016 02 December 15, 2018, 2016 02 September 29, 2019 2016 02 In August 2017, No. 2017 12, Derivatives and Hedging (Topic 815 " 2017 12" 2017 12 2017 12 no 2017 12 December 15, 2018, 2017 12 September 29, 2019 2017 12 In January 2017, 2017 04, Intangibles - Goodwill and other (Topic 350 2017 04" 2017 04 2 2, 2017 04 not 2017 04 zero 2 zero 2017 04 December 15, 2019. 2017 04 October 4, 2020. 2017 04 |
Note D - Acquisitions
Note D - Acquisitions | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note D—Acquisitions On October 8, 2018, DTG2Go, March not The financial results of the acquired business have been included in our Delta Group since the date of the acquisition. It is not DTG2Go The SSI acquisition purchase price consisted of $2.0 $7.0 $3.0 $2.0 $0.7 March Cash $ 2,000 Promissory note 7,000 Capital lease financing 3,000 Net working capital adjustment 729 Total consideration $ 12,729 The current allocation of consideration to the assets and liabilities are noted in the table below as well as measurement-period adjustments recorded in our Condensed Consolidated Balance Sheets as of June 29, 2019. Allocation as of March 30, 2019 Measurement Period Adjustments Allocation as of June 29, 2019 Accounts receivable $ 1,184 $ - $ 1,184 Inventory 1,127 - 1,127 Other current assets 86 - 86 Property, plant, and equipment 3,400 - 3,400 Goodwill 3,380 1,300 4,680 Intangible assets 4,020 (1,100 ) 2,920 Accounts payable (668 ) - (668 ) Consideration paid $ 12,529 $ 200 $ 12,729 |
Note E - Inventories
Note E - Inventories | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note E—Inventories Inventories, net of reserves of $10.2 $10.5 June 29, 2019, September 29, 2018 June 29, September 29, 2019 2018 Raw materials $ 11,794 $ 9,641 Work in process 16,026 18,327 Finished goods 149,959 147,015 $ 177,779 $ 174,983 Raw materials include finished yarn and direct materials for the Delta Group, undecorated garments for the DTG2Go |
Note F - Debt
Note F - Debt | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | Note F—Debt On May 10, 2016, DTG2Go, On November 27, 2017, $10 March 31, 2017, one dness was amend may may $15 was not $2 so allowed t no On March 9, 2018, DTG2Go. 20 17 not 2018 not $6 may $25 DTG2Go, DTG2Go no On October 8, 2018, DTG2Go's first The Amended Credit Agreement allows us to borrow up to $145 $25 no $200 May 10, 2021. As of June 29, 2019 $114.8 4.7% $21.6 12 not 1.1 1.0. not June 29, 2019 June 29, 2019, September 29, 2018 $14.4 $14.7 The Amended Credit Agreement contains a subjective acceleration clause and a “springing” lockbox arrangement (as defined in FASB Codification No. 470, Debt 470" not 470, In August 2013, two $22.0 one $9.0 September 30, 2014, March 31, 2015, June 30, 2019. zero 1274 1.92% June 30, 2016, 3.62% June 30, 2019. June 29, 2019 $0.5 On October 8, 2018, $7.0 6% January 2, 2019, October 1, 2021. June 29, 2019 $5.9 Since March 2011, first not nine 18 not six Additional information about these loans and the outstanding balances as of June 29, 2019 June 29, 2019 Revolving credit facility established March 2011, interest at 6.2% expiring August 2020 $ 4,984 Term loan established November 2014, interest at 6.0%, payable monthly with a six-year term 950 Term loan established June 2016, interest at 6.0%, payable monthly with a six-year term 849 Term loan established October 2017, interest at 6.0%, payable monthly with a six-year term 2,219 |
Note G - Selling, General and A
Note G - Selling, General and Administrative Expense | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Selling General And Administrative Expense [Text Block] | Note G—Selling, General and Administrative Expense We include in selling, general and administrative ("SG&A") expenses the costs incurred subsequent to the receipt of finished goods at our distribution facilities, such as the cost of stocking, warehousing, picking, packing, and shipping goods for delivery to our customers. Distribution costs included in SG&A expenses totaled $ 4.5 three June 29, 2019 June 30, 2018 $12.9 $12.8 nine June 29, 2019 June 30, 2018 |
Note H - Stock-based Compensati
Note H - Stock-based Compensation | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note H—Stock-Based Compensation On February 4, 2015, 2010 "2010 November 11, 2010. November 2010, no 2010 We account for these plans pursuant to ASC 718, 107, 110, 2016 09. 2010 Compensation expense is recorded on the SG&A expense line item in our Condensed Consolidated Statements of Operations over the vesting periods. During the three June 29, 2019 June 30, 2018 $0.5 $0.8 nine June 29, 2019 June 30, 2018 $1.8 $2.0 2010 Under the 2010 may may 2010 500,000 2010 may 2010 2010 2010 No three nine June 29, 2019 During the three December 29, 2018, 205,000 42,000 10 September 29, 2018 During the three December 30, 2017, 54,602 92,068 10 September 30, 2017, one 72,138 19,930 As of June 29, 2019 $1.7 2010 1.5 |
Note I - Purchase Contracts
Note I - Purchase Contracts | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note I—Purchase Contracts We have entered into agreements, and have fixed prices, to purchase yarn, finished fabric, and finished apparel and headwear products. At June 29, 2019 Yarn $ 21,866 Finished fabric 3,061 Finished products 10,716 $ 35,643 |
Note J - Business Segments
Note J - Business Segments | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note J—Business Segments We operate our business in two 2018, Decision Maker DTG2Go two The Delta Group is comprised of our business units primarily focused on core activewear styles, and includes our Delta Activewear (which includes Delta Catalog and FunTees), Soffe, and DTG2Go ® ® ® DTG2Go The Salt Life Group is comprised of our lifestyle brands focused on a broad range of apparel garments, headwear and related accessories to meet consumer preferences and fashion trends, and includes our Salt Life and Coast business units. These products are sold through specialty and boutique shops, traditional department stores, and outdoor retailers, as well as direct-to-consumer through branded ecommerce sites and branded retail stores. Products in this segment are marketed under our lifestyle brands of Salt Life ® ® Our Chief Operating Decision Maker and management evaluate performance and allocate resources based on profit or loss from operations before interest, income taxes and special charges ("segment operating income"). Our segment operating income may not 2 10 September 29, 2018 Three Months Ended Nine Months Ended June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Segment net sales: Delta Group $ 107,409 $ 102,107 $ 291,325 $ 272,157 Salt Life Group 11,851 10,075 32,448 30,371 Total net sales $ 119,260 $ 112,182 $ 323,773 $ 302,528 Segment operating income: Delta Group (1) $ 9,248 $ 9,137 $ 15,393 $ 19,337 Salt Life Group (2) 2,596 1,085 5,608 4,295 Total segment operating income $ 11,844 $ 10,222 $ 21,001 $ 23,632 ( 1 December 29, 2018, $2.5 2016 ( 2 June 29, 2019, $1.3 The following table reconciles the segment operating income to the consolidated income before provision for income taxes (in thousands): Three Months Ended Nine Months Ended June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Segment operating income $ 11,844 $ 10,222 $ 21,001 $ 23,632 Unallocated corporate expenses 3,508 3,554 9,930 9,613 Unallocated interest expense 1,989 1,522 5,739 4,207 Consolidated income (loss) before provision for income taxes $ 6,347 $ 5,146 $ 5,332 $ 9,812 The Delta Group segment assets have increased by $32.7 September 29, 2018 $316.6 June 29, 2019 $6.1 September 29, 2018 $61.1 June 29, 2019 |
Note K - Income Taxes
Note K - Income Taxes | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note K—Income Taxes The Tax Cuts and Jobs Act of 2017 December 22, 2017, 163 GILTI is the excess of the shareholder’s net CFC tested income over the net deemed tangible income. The Section 163 not 30% 163 In the quarter ended December 30, 2017, $10.6 September 29, 2018 $0.1 $10.7 2018 eight first 2019 no Our effective income tax rate on operations for the nine June 29, 2019 16.8%. nine June 30, 2018 $10.6 10.5%. September 29, 2018 $10.7 1.7%. We intend to reinvest all of our unremitted earnings of our foreign subsidiaries and therefore, outside of the transition tax mentioned previously, we have provided no may We benefit from having income in foreign jurisdictions that are either exempt from income taxes or have tax rates that are lower than those in the United States. Based on our current projected pre-tax income and the anticipated amount of U.S. taxable income compared to profits in the offshore taxable and tax-free jurisdictions in which we operate, our estimated annual income tax rate for the fiscal year ending September 28, 2019, 17% 19%. may may may may We file income tax returns in the U.S. federal jurisdiction and various state, local and foreign jurisdictions. Tax years 2015, 2016, 2017, |
Note L - Derivatives and Fair V
Note L - Derivatives and Fair Value Measurements | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Derivatives and Fair Value [Text Block] | Note L—Derivatives and Fair Value Measurements From time to time, we may not June 29, 2019 no June 29, 2019 Notational Effective Date Amount Fixed LIBOR Rate Maturity Date Interest Rate Swap July 19, 2017 $10.0 million 1.74% July 19, 2019 Interest Rate Swap July 19, 2017 $10.0 million 1.99% May 10, 2021 Interest Rate Swap July 25, 2018 $20.0 million 3.18% July 25, 2023 From time to time, we may not ○ FASB Codification No. 820, Fair Value Measurements and Disclosures 820” three ○ Level 1 ○ Level 2 ○ Level 3 no The following financial assets (liabilities) are measured at fair value on a recurring basis (in thousands): Fair Value Measurements Using Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Period Ended Total (Level 1) (Level 2) (Level 3) Interest Rate Swaps June 29, 2019 $ (1,184 ) — $ (1,184 ) — September 29, 2018 183 — 183 — Cotton Options June 29, 2019 $ — — — — September 29, 2018 (110 ) (110 ) — — Contingent Consideration June 29, 2019 $ (9,394 ) — — $ (9,394 ) September 29, 2018 (10,542 ) — — (10,542 ) The fair value of the interest rate swap agreements was derived from a discounted cash flow analysis based on the terms of the contract and the forward interest rate curves adjusted for our credit risk, which fall in Level 2 June 29, 2019 2 The following table summarizes the fair value and presentation in the Condensed Consolidated Balance Sheets for derivatives related to our interest swap agreements as of June 29, 2019 September 29, 2018 June 29, September 29, 2019 2018 Other assets $ — $ 182 Deferred tax assets 297 (46 ) Other non-current liabilities (1,184 ) — Accumulated other comprehensive (loss) income $ (887 ) $ 136 In August 2013, 2019 2019 3 At June 29, 2019 $0.2 $1.1 September 29, 2018 2019 On March 9, 2018, DTG2Go. $16.6 April 1, 2018, September 29, 2018 2019, 2020, 2021 2022. second 2019, $0.6 April 1, 2018, September 29, 2018 nine June 29, 2019, $0.6 At June 29, 2019 $9.4 $1.1 September 29, 2018 $0.6 second $0.5 3 |
Note M - Legal Proceedings
Note M - Legal Proceedings | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | Note M—Legal Proceedings The Sports Authority Bankruptcy Litigation Soffe was previously involved in several related litigation matters stemming from The Sports Authority's ("TSA") March 2, 2016, 11 TSA Stores, Inc. and related entities TSA Ponce, Inc. and TSA Caribe, Inc. filed an action against Soffe on March 16, 2016, On November 26, 2018, $2.5 December 31, 2018. three December 29, 2018. In addition to the foregoing, at times we are party to various legal claims, actions and complaints. We believe that, as a result of legal defenses, insurance arrangements, and indemnification provisions with parties believed to be financially capable, such actions should not |
Note N - Repurchase of Common S
Note N - Repurchase of Common Stock | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | Note N—Repurchase of Common Stock As of September 29, 2018 $60.0 During the June 2019, 14,000 $0.3 June 29, 2019 3,498,962 $50.5 10b 18. June 29, 2019 $9.5 not The following table summarizes the purchases of our common stock for the quarter ended June 29, 2019 Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans Dollar Value of Shares that May Yet Be Purchased Under the Plans March 31, 2019 to May 4, 2019 — — — $9.9 million May 5, 2019 to June 1, 2019 14,000 $ 21.97 14,000 9.5 million June 2, 2019 to June 29, 2019 — — — 9.5 million Total 14,000 $ 21.97 14,000 $9.5 million |
Note O - Goodwill and Intangibl
Note O - Goodwill and Intangible Assets | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note O—Goodwill and Intangible Assets Components of intangible assets consist of the following (in thousands): June 29, 2019 September 29, 2018 Cost Accumulated Amortization Net Value Cost Accumulated Amortization Net Value Economic Life Goodwill $ 37,897 $ — $ 37,897 $ 33,217 $ — $ 33,217 N/A Intangibles: Tradename/trademarks $ 16,090 $ (3,143 ) $ 12,947 $ 16,090 $ (2,736 ) $ 13,354 20 – 30 yrs Customer relationships 7,400 (808 ) 6,592 4,500 (253 ) 4,247 8 – 10 yrs Technology 1,720 (1,243 ) 477 1,720 (1,105 ) 615 10 yrs License agreements 2,100 (604 ) 1,418 2,100 (527 ) 1,573 15 – 30 yrs Non-compete agreements 1,657 (1,110 ) 625 1,637 (928 ) 709 4 – 8.5 yrs Total intangibles $ 28,967 $ (6,908 ) $ 22,059 $ 26,047 $ (5,549 ) $ 20,498 Goodwill represents the acquired goodwill net of the $0.6 2011. $18.0 $19.9 On October 8, 2018, $4.5 $2.9 Amortization expense for intangible assets was $0.4 three June 29, 2019 June 30, 2018 $1.4 nine June 29, 2019 $0.9 nine June 30, 2018 $2.0 2019, $1.8 2020, $1.7 2021, 2022 2023. |
Note P - Subsequent Events
Note P - Subsequent Events | 9 Months Ended |
Jun. 29, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note P—Subsequent Events None |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Jun. 29, 2019 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Standards In May 2014, No. 2014 09, Revenue from Contracts with Customers 2014 09" 2014 09 December 15, 2017, December 15, 2016. 2014 09 September 30, 2018, 2014 09 Our revenue streams consist of wholesale, direct-to-consumer ecommerce and retail stores which are included in our Condensed Consolidated Statements of Operations. The table below identifies the amount and percentage of net sales by distribution channel (in thousands): Three Months Ended June 29, 2019 June 30, 2018 $ % $ % Retail $ 1,296 1 % $ 986 1 % Direct-to-consumer ecommerce 1,419 1 % 1,503 1 % Wholesale 116,545 98 % 109,693 98 % Net Sales $ 119,260 100 % $ 112,182 100 % Nine Months Ended June 29, 2019 June 30, 2018 $ % $ % Retail $ 3,180 1 % $ 2,602 1 % Direct-to-consumer ecommerce 3,990 1 % 3,974 1 % Wholesale 316,603 98 % 295,952 98 % Net Sales $ 323,773 100 % $ 302,528 100 % The table below provides net sales by reportable segment (in thousands) and the percentage of net sales by distribution channel for each reportable segment: Third Quarter Fiscal Year 2019 Net Sales Retail Ecommerce Wholesale Delta Group $ 107,409 0.3 % 0.3 % 99.4 % Salt Life Group 11,851 8.6 % 9.0 % 82.4 % Total $ 119,260 Third Quarter Fiscal Year 2018 Net Sales Retail Ecommerce Wholesale Delta Group $ 102,107 0.3 % 0.3 % 99.4 % Salt Life Group 10,075 7.3 % 11.3 % 81.4 % Total $ 112,182 Year To Date Fiscal Year 2019 Net Sales Retail Ecommerce Wholesale Delta Group $ 291,325 0.3 % 0.3 % 99.4 % Salt Life Group 32,448 7.1 % 9.3 % 83.6 % Total $ 323,773 Year To Date Fiscal Year 2018 Net Sales Retail Ecommerce Wholesale Delta Group $ 272,157 0.4 % 0.3 % 99.3 % Salt Life Group 30,371 5.8 % 10.1 % 84.1 % Total $ 302,528 Revenue is recognized when performance obligations under the terms of the contracts are satisfied. Our performance obligation primarily consists of delivering products to our customers. Control is transferred upon providing the products to customers in our retail stores, upon shipment of our products to the consumers from our ecommerce sites, and upon shipment from our distribution centers to our customers in our wholesale operations. Once control is transferred to the customer, we have completed our performance obligation. Our receivables resulting from wholesale customers are generally collected within two In certain areas of our wholesale business, we offer discounts and allowances to support our customers. Some of these arrangements are written agreements, while others may not may not In accordance with the new revenue guidance, we only recognize revenue to the extent that it is probable that we will not We have made accounting policy elections related to the new revenue recognition standard. We exclude any taxes collected from customers that are remitted to taxing authorities from net sales. We record shipping and handling charges incurred by us before and after the customer obtains control as a fulfillment cost rather than an additional promised service. Our customers' terms are less than one not not one not With the adoption of ASU 2014 09, no June 29, 2019 As Reported June 29, 2019 Effect of Standard Balances without Adoption Accounts receivable, net $ 67,200 $ (748 ) $ 66,452 Prepaid expenses and other current assets 3,384 (166 ) 3,218 Total Current Assets 250,297 (914 ) 249,383 Total assets 381,225 (914 ) 380,311 Accrued liabilities 16,834 (1,163 ) 15,671 Total current liabilities 81,576 (1,163 ) 80,413 Total liabilities 230,940 (1,163 ) 229,777 Total liabilities and equity 381,225 (1,163 ) 380,062 In August 2016, No. 2016 15, Statement of Cash Flows (Topic 230 " 2016 15" 2016 15 2016 15 December 15, 2017, 2016 15 September 30, 2018. March $0.6 2016 15, $0.1 $0.5 Standards Not In February 2016, No. 2016 02, Leases, 2016 02" 2016 02 2016 02 December 15, 2018, 2016 02 September 29, 2019 2016 02 In August 2017, No. 2017 12, Derivatives and Hedging (Topic 815 " 2017 12" 2017 12 2017 12 no 2017 12 December 15, 2018, 2017 12 September 29, 2019 2017 12 In January 2017, 2017 04, Intangibles - Goodwill and other (Topic 350 2017 04" 2017 04 2 2, 2017 04 not 2017 04 zero 2 zero 2017 04 December 15, 2019. 2017 04 October 4, 2020. 2017 04 |
Note C - New Accounting Stand_2
Note C - New Accounting Standards (Tables) | 9 Months Ended |
Jun. 29, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended June 29, 2019 June 30, 2018 $ % $ % Retail $ 1,296 1 % $ 986 1 % Direct-to-consumer ecommerce 1,419 1 % 1,503 1 % Wholesale 116,545 98 % 109,693 98 % Net Sales $ 119,260 100 % $ 112,182 100 % Nine Months Ended June 29, 2019 June 30, 2018 $ % $ % Retail $ 3,180 1 % $ 2,602 1 % Direct-to-consumer ecommerce 3,990 1 % 3,974 1 % Wholesale 316,603 98 % 295,952 98 % Net Sales $ 323,773 100 % $ 302,528 100 % Third Quarter Fiscal Year 2019 Net Sales Retail Ecommerce Wholesale Delta Group $ 107,409 0.3 % 0.3 % 99.4 % Salt Life Group 11,851 8.6 % 9.0 % 82.4 % Total $ 119,260 Third Quarter Fiscal Year 2018 Net Sales Retail Ecommerce Wholesale Delta Group $ 102,107 0.3 % 0.3 % 99.4 % Salt Life Group 10,075 7.3 % 11.3 % 81.4 % Total $ 112,182 Year To Date Fiscal Year 2019 Net Sales Retail Ecommerce Wholesale Delta Group $ 291,325 0.3 % 0.3 % 99.4 % Salt Life Group 32,448 7.1 % 9.3 % 83.6 % Total $ 323,773 Year To Date Fiscal Year 2018 Net Sales Retail Ecommerce Wholesale Delta Group $ 272,157 0.4 % 0.3 % 99.3 % Salt Life Group 30,371 5.8 % 10.1 % 84.1 % Total $ 302,528 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | As Reported June 29, 2019 Effect of Standard Balances without Adoption Accounts receivable, net $ 67,200 $ (748 ) $ 66,452 Prepaid expenses and other current assets 3,384 (166 ) 3,218 Total Current Assets 250,297 (914 ) 249,383 Total assets 381,425 (914 ) 380,511 Accrued liabilities 16,834 (1,163 ) 15,671 Total current liabilities 81,576 (1,163 ) 80,413 Total liabilities 231,140 (1,163 ) 229,977 Total liabilities and equity 381,425 (1,163 ) 380,262 |
Note D - Acquisitions (Tables)
Note D - Acquisitions (Tables) | 9 Months Ended |
Jun. 29, 2019 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cash $ 2,000 Promissory note 7,000 Capital lease financing 3,000 Net working capital adjustment 729 Total consideration $ 12,729 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Allocation as of March 30, 2019 Measurement Period Adjustments Allocation as of June 29, 2019 Accounts receivable $ 1,184 $ - $ 1,184 Inventory 1,127 - 1,127 Other current assets 86 - 86 Property, plant, and equipment 3,400 - 3,400 Goodwill 3,380 1,300 4,680 Intangible assets 4,020 (1,100 ) 2,920 Accounts payable (668 ) - (668 ) Consideration paid $ 12,529 $ 200 $ 12,729 |
Note E - Inventories (Tables)
Note E - Inventories (Tables) | 9 Months Ended |
Jun. 29, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 29, September 29, 2019 2018 Raw materials $ 11,794 $ 9,641 Work in process 16,026 18,327 Finished goods 149,959 147,015 $ 177,779 $ 174,983 |
Note F - Debt (Tables)
Note F - Debt (Tables) | 9 Months Ended |
Jun. 29, 2019 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | June 29, 2019 Revolving credit facility established March 2011, interest at 6.2% expiring August 2020 $ 4,984 Term loan established November 2014, interest at 6.0%, payable monthly with a six-year term 950 Term loan established June 2016, interest at 6.0%, payable monthly with a six-year term 849 Term loan established October 2017, interest at 6.0%, payable monthly with a six-year term 2,219 |
Note I - Purchase Contracts (Ta
Note I - Purchase Contracts (Tables) | 9 Months Ended |
Jun. 29, 2019 | |
Notes Tables | |
Long-term Purchase Commitment [Table Text Block] | Yarn $ 21,866 Finished fabric 3,061 Finished products 10,716 $ 35,643 |
Note J - Business Segments (Tab
Note J - Business Segments (Tables) | 9 Months Ended |
Jun. 29, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Nine Months Ended June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Segment net sales: Delta Group $ 107,409 $ 102,107 $ 291,325 $ 272,157 Salt Life Group 11,851 10,075 32,448 30,371 Total net sales $ 119,260 $ 112,182 $ 323,773 $ 302,528 Segment operating income: Delta Group (1) $ 9,248 $ 9,137 $ 15,393 $ 19,337 Salt Life Group (2) 2,596 1,085 5,608 4,295 Total segment operating income $ 11,844 $ 10,222 $ 21,001 $ 23,632 Three Months Ended Nine Months Ended June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018 Segment operating income $ 11,844 $ 10,222 $ 21,001 $ 23,632 Unallocated corporate expenses 3,508 3,554 9,930 9,613 Unallocated interest expense 1,989 1,522 5,739 4,207 Consolidated income (loss) before provision for income taxes $ 6,347 $ 5,146 $ 5,332 $ 9,812 |
Note L - Derivatives and Fair_2
Note L - Derivatives and Fair Value Measurements (Tables) | 9 Months Ended |
Jun. 29, 2019 | |
Notes Tables | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | Notational Effective Date Amount Fixed LIBOR Rate Maturity Date Interest Rate Swap July 19, 2017 $10.0 million 1.74% July 19, 2019 Interest Rate Swap July 19, 2017 $10.0 million 1.99% May 10, 2021 Interest Rate Swap July 25, 2018 $20.0 million 3.18% July 25, 2023 |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs Period Ended Total (Level 1) (Level 2) (Level 3) Interest Rate Swaps June 29, 2019 $ (1,184 ) — $ (1,184 ) — September 29, 2018 183 — 183 — Cotton Options June 29, 2019 $ — — — — September 29, 2018 (110 ) (110 ) — — Contingent Consideration June 29, 2019 $ (9,394 ) — — $ (9,394 ) September 29, 2018 (10,542 ) — — (10,542 ) |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | June 29, September 29, 2019 2018 Other assets $ — $ 182 Deferred tax assets 297 (46 ) Other non-current liabilities (1,184 ) — Accumulated other comprehensive (loss) income $ (887 ) $ 136 |
Note N - Repurchase of Common_2
Note N - Repurchase of Common Stock (Tables) | 9 Months Ended |
Jun. 29, 2019 | |
Notes Tables | |
Class of Treasury Stock [Table Text Block] | Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans Dollar Value of Shares that May Yet Be Purchased Under the Plans March 31, 2019 to May 4, 2019 — — — $9.9 million May 5, 2019 to June 1, 2019 14,000 $ 21.97 14,000 9.5 million June 2, 2019 to June 29, 2019 — — — 9.5 million Total 14,000 $ 21.97 14,000 $9.5 million |
Note O - Goodwill and Intangi_2
Note O - Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Jun. 29, 2019 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | June 29, 2019 September 29, 2018 Cost Accumulated Amortization Net Value Cost Accumulated Amortization Net Value Economic Life Goodwill $ 37,897 $ — $ 37,897 $ 33,217 $ — $ 33,217 N/A Intangibles: Tradename/trademarks $ 16,090 $ (3,143 ) $ 12,947 $ 16,090 $ (2,736 ) $ 13,354 20 – 30 yrs Customer relationships 7,400 (808 ) 6,592 4,500 (253 ) 4,247 8 – 10 yrs Technology 1,720 (1,243 ) 477 1,720 (1,105 ) 615 10 yrs License agreements 2,100 (604 ) 1,418 2,100 (527 ) 1,573 15 – 30 yrs Non-compete agreements 1,657 (1,110 ) 625 1,637 (928 ) 709 4 – 8.5 yrs Total intangibles $ 28,967 $ (6,908 ) $ 22,059 $ 26,047 $ (5,549 ) $ 20,498 |
Note C - New Accounting Stand_3
Note C - New Accounting Standards (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Jun. 29, 2019 | Jun. 30, 2018 | |
Receivables Collection Period | 2 years | |
Customer Term | 1 year | |
Payment for Contingent Consideration Liability, Operating Activities | $ 600 | |
Net Cash Provided by (Used in) Operating Activities, Total | (8,547) | $ 3,979 |
Net Cash Provided by (Used in) Financing Activities, Total | 17,268 | $ 4,080 |
Accounting Standards Update 2016-15 [Member] | ||
Net Cash Provided by (Used in) Operating Activities, Total | 100 | |
Net Cash Provided by (Used in) Financing Activities, Total | $ 500 |
Note C - New Accounting Stand_4
Note C - New Accounting Standards - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 29, 2019 | Jun. 30, 2018 | Jun. 29, 2019 | Jun. 30, 2018 | |
Net sales | $ 119,260 | $ 112,182 | $ 323,773 | $ 302,528 |
Sales in percentage | 100.00% | 100.00% | 100.00% | 100.00% |
Delta Group [Member] | ||||
Net sales | $ 107,409 | $ 102,107 | $ 291,325 | $ 272,157 |
Salt Life Group [Member] | ||||
Net sales | 11,851 | 10,075 | 32,448 | 30,371 |
Retail [Member] | ||||
Net sales | $ 1,296 | $ 986 | $ 3,180 | $ 2,602 |
Sales in percentage | 1.00% | 1.00% | 1.00% | 1.00% |
Retail [Member] | Delta Group [Member] | ||||
Sales in percentage | 0.30% | 0.30% | 0.30% | 0.30% |
Retail [Member] | Salt Life Group [Member] | ||||
Sales in percentage | 9.00% | 11.30% | 9.30% | 10.10% |
Wholesale [Member] | ||||
Net sales | $ 116,545 | $ 109,693 | $ 316,603 | $ 295,952 |
Sales in percentage | 98.00% | 98.00% | 98.00% | 98.00% |
Wholesale [Member] | Delta Group [Member] | ||||
Sales in percentage | 0.30% | 0.30% | 0.30% | 0.40% |
Wholesale [Member] | Salt Life Group [Member] | ||||
Sales in percentage | 8.60% | 7.30% | 7.10% | 5.80% |
Ecommerce [Member] | ||||
Net sales | $ 1,419 | $ 1,503 | $ 3,990 | $ 3,974 |
Sales in percentage | 1.00% | 1.00% | 1.00% | 1.00% |
Ecommerce [Member] | Delta Group [Member] | ||||
Sales in percentage | 99.40% | 99.40% | 99.40% | 99.30% |
Ecommerce [Member] | Salt Life Group [Member] | ||||
Sales in percentage | 82.40% | 81.40% | 83.60% | 84.10% |
Note C - New Accounting Stand_5
Note C - New Accounting Standards - Adoption of New Accounting Standard (Details) - USD ($) $ in Thousands | Jun. 29, 2019 | Sep. 29, 2018 |
Accounts receivable, net | $ 67,200 | $ 45,605 |
Prepaid expenses and other current assets | 3,384 | 2,962 |
Total Current Assets | 250,297 | 225,422 |
Total assets | 381,425 | 343,609 |
Accrued liabilities | 16,834 | 16,742 |
Total current liabilities | 81,576 | 75,811 |
Total liabilities | 231,140 | 193,491 |
Total liabilities and equity | 381,425 | $ 343,609 |
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | ||
Accounts receivable, net | (748) | |
Prepaid expenses and other current assets | (166) | |
Total Current Assets | (914) | |
Total assets | (914) | |
Accrued liabilities | (1,163) | |
Total current liabilities | (1,163) | |
Total liabilities | (1,163) | |
Total liabilities and equity | (1,163) | |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||
Accounts receivable, net | 66,452 | |
Prepaid expenses and other current assets | 3,218 | |
Total Current Assets | 249,383 | |
Total assets | 380,511 | |
Accrued liabilities | 15,671 | |
Total current liabilities | 80,413 | |
Total liabilities | 229,977 | |
Total liabilities and equity | $ 380,262 |
Note D - Acquisitions (Details
Note D - Acquisitions (Details Textual) - SSI [Member] - USD ($) $ in Millions | Oct. 08, 2018 | Mar. 30, 2019 |
Payments to Acquire Businesses, Gross | $ 2 | |
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Working Capital | $ 0.7 | |
Promissory Note [Member] | ||
Business Combination, Consideration Transferred, Liabilities Incurred | 7 | |
Capital Lease Obligations [Member] | ||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 3 |
Note D - Acquisitions - Purchas
Note D - Acquisitions - Purchase Price (Details) - SSI Acquisition [Member] $ in Thousands | 9 Months Ended |
Jun. 29, 2019USD ($) | |
Cash | $ 2,000 |
Net working capital adjustment | 729 |
Total consideration | 12,729 |
Promissory Note [Member] | |
Liabilities Incurred | 7,000 |
Capital Lease Obligations [Member] | |
Liabilities Incurred | $ 3,000 |
Note D - Acquisitions - Purch_2
Note D - Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 29, 2019 | Mar. 30, 2019 | Sep. 29, 2018 | |
Goodwill | $ 37,897 | $ 33,217 | |
Accounts payable | (668) | ||
Accounts payable | |||
Consideration paid | 12,729 | $ 12,529 | |
Consideration paid | 200 | ||
SSI [Member] | |||
Accounts receivable | 1,184 | 1,184 | |
Accounts receivable | |||
Inventory | 1,127 | 1,127 | |
Inventory | |||
Other current assets | 86 | 86 | |
Other current assets | |||
Property, plant, and equipment | 3,400 | 3,400 | |
Property, plant, and equipment | |||
Goodwill | 4,680 | 3,380 | |
Goodwill | 1,300 | ||
Intangible assets | 2,920 | 4,020 | |
Intangible assets | $ (1,100) | ||
Accounts payable | $ (668) |
Note E - Inventories (Details T
Note E - Inventories (Details Textual) - USD ($) $ in Millions | Jun. 29, 2019 | Sep. 29, 2018 |
Inventory Valuation Reserves, Ending Balance | $ 10.2 | $ 10.5 |
Note E - Inventories - Inventor
Note E - Inventories - Inventories (Details) - USD ($) $ in Thousands | Jun. 29, 2019 | Sep. 29, 2018 |
Raw materials | $ 11,794 | $ 9,641 |
Work in process | 16,026 | 18,327 |
Finished goods | 149,959 | 147,015 |
$ 177,779 | $ 174,983 |
Note F - Debt (Details Textual)
Note F - Debt (Details Textual) $ in Millions | Aug. 31, 2013USD ($) | Mar. 31, 2011 | Jun. 29, 2019USD ($) | Mar. 30, 2019Rate | Jan. 02, 2019 | Oct. 08, 2018USD ($) | Sep. 29, 2018USD ($) | Aug. 31, 2018 | Mar. 09, 2018USD ($) | Nov. 27, 2017USD ($) |
Promissory Note [Member] | ||||||||||
Debt Instrument, Face Amount | $ 7 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||||
Salt Life Acquisition [Member] | Promissory Note [Member] | ||||||||||
Debt Instrument Number of Instruments Issued | 2 | |||||||||
Debt Instrument, Face Amount | $ 22 | |||||||||
Debt Instrument Amount of One time Installment Payment | $ 9 | |||||||||
Debt Instrument Discounted Value | $ 0.5 | |||||||||
SSI [Member] | Promissory Note [Member] | ||||||||||
Debt Instrument Discounted Value | 5.9 | |||||||||
Amended Credit Agreement [Member] | Revolving Credit Facility [Member] | ||||||||||
Line Of Credit Facility Maximum Capacity For Share Repurchase | $ 10 | |||||||||
Line Of Credit Facility Maximum Capacity For Capital Leases | $ 25 | 15 | ||||||||
Line Of Credit Facility Maximum Capacity For Investments | $ 6 | $ 2 | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 145 | |||||||||
Line of Credit Facility Including Additional Borrowing Capacity Maximum | 200 | |||||||||
Amended Credit Agreement [Member] | Letter of Credit [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 25 | |||||||||
Long-term Line of Credit, Total | $ 114.8 | |||||||||
Line of Credit Facility, Interest Rate During Period | 4.70% | |||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 21.6 | |||||||||
Debt Covenant Fixed Charge Coverage Ratio Term | 1 year | |||||||||
Fixed Charge Coverage Ratio | Rate | 110.00% | |||||||||
Retained Earnings Amount Available For Dividends And Stock Repurchases | $ 14.4 | $ 14.7 | ||||||||
Promissory Note, Maturity Date June 30, 2016 [Member] | Salt Life Acquisition [Member] | Promissory Note [Member] | ||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 1.92% | |||||||||
Promissory Note, Maturity Date June 30, 2019 [Member] | Salt Life Acquisition [Member] | Promissory Note [Member] | ||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.62% | |||||||||
Debt with Banco Ficohsa [Member] | Revolving Credit Facility [Member] | ||||||||||
Debt Instrument Periodic Payment Term | 270 days | 180 days | ||||||||
Debt Instrument, Term | 1 year 180 days |
Note F - Debt - Schedule of Deb
Note F - Debt - Schedule of Debt (Details) $ in Thousands | Jun. 29, 2019USD ($) |
Line of Credit [Member] | Revolving Credit Facility [Member] | |
long-term Debt | $ 4,984 |
Term loan established November, 2014 [Member] | |
long-term Debt | 950 |
Term loan established June, 2016 [Member] | |
long-term Debt | 849 |
Term Loan Established October, 2017 [Member] | |
long-term Debt | $ 2,219 |
Note F - Debt - Schedule of D_2
Note F - Debt - Schedule of Debt (Details) (Parentheticals) | 9 Months Ended |
Jun. 29, 2019 | |
Term loan established November, 2014 [Member] | |
Long term debt, Interest rate | 6.00% |
Long-term debt, term (Year) | 6 years |
Term loan established June, 2016 [Member] | |
Long term debt, Interest rate | 6.00% |
Long-term debt, term (Year) | 6 years |
Term Loan Established October, 2017 [Member] | |
Long term debt, Interest rate | 6.00% |
Long-term debt, term (Year) | 6 years |
Revolving Credit Facility [Member] | Line of Credit [Member] | |
Long term debt, Interest rate | 6.10% |
Long-term debt, Maturity date | Aug. 31, 2020 |
Note G - Selling, General and_2
Note G - Selling, General and Administrative Expense (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 29, 2019 | Jun. 30, 2018 | Jun. 29, 2019 | Jun. 30, 2018 | |
Production and Distribution Costs | $ 4.5 | $ 4.5 | $ 12.9 | $ 12.8 |
Note H - Stock-based Compensa_2
Note H - Stock-based Compensation (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Jun. 29, 2019 | Dec. 29, 2018 | Jun. 30, 2018 | Dec. 30, 2017 | Jun. 29, 2019 | Jun. 30, 2018 | |
Share-based Payment Arrangement, Expense | $ 0.5 | $ 0.8 | $ 1.8 | $ 2 | ||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | 0 | ||||
Restricted Stock Units (RSUs) [Member] | Upon Filing of Annual Report in 2018 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 205,000 | |||||
Restricted Stock Units (RSUs) [Member] | Upon Filing of Annual Report in 2017 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 54,602 | |||||
Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | 0 | ||||
Performance Shares [Member] | Upon Filing of Annual Report in 2018 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 42,000 | 92,068 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Paid in Common Stock | 72,138 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Paid in Cash | 19,930 | |||||
The 2010 Stock Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 500,000 | 500,000 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1.7 | $ 1.7 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 182 days |
Note I - Purchase Contracts - M
Note I - Purchase Contracts - Minimum Payments Under Contracts (Details) $ in Thousands | Jun. 29, 2019USD ($) |
Outstanding minimum payments | $ 35,643 |
Yarn [Member] | |
Outstanding minimum payments | 21,866 |
Finished Fabric [Member] | |
Outstanding minimum payments | 3,061 |
Finished Products [Member] | |
Outstanding minimum payments | $ 10,716 |
Note J - Business Segments (Det
Note J - Business Segments (Details Textual) $ in Thousands | Nov. 26, 2018USD ($) | Jun. 29, 2019USD ($) | Dec. 29, 2018USD ($) | Jun. 29, 2019USD ($) | Sep. 29, 2018USD ($) |
Number of Operating Segments | 2 | ||||
Litigation Settlement, Expense | $ 2,500 | ||||
Assets, Total | $ 381,425 | $ 381,425 | $ 343,609 | ||
Delta Group [Member] | |||||
Litigation Settlement, Expense | $ 2,500 | ||||
Increase (Decrease} in Assets | 32,700 | ||||
Assets, Total | 316,600 | 316,600 | |||
Salt Life Group [Member] | |||||
Gain (Loss) Related to Litigation Settlement, Total | 1,300 | ||||
Increase (Decrease} in Assets | 6,100 | ||||
Assets, Total | $ 61,100 | $ 61,100 |
Note J - Business Segments - Sc
Note J - Business Segments - Schedule of Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jun. 29, 2019 | Jun. 30, 2018 | Jun. 29, 2019 | Jun. 30, 2018 | ||
Net sales | $ 119,260 | $ 112,182 | $ 323,773 | $ 302,528 | |
Segment operating income | 8,336 | 6,668 | 11,071 | 14,019 | |
Selling, general and administrative expenses | 17,931 | 17,936 | 51,771 | 49,654 | |
Consolidated income (loss) before provision for income taxes | 6,347 | 5,146 | 5,332 | 9,812 | |
Delta Group [Member] | |||||
Net sales | 107,409 | 102,107 | 291,325 | 272,157 | |
Segment operating income | [1] | 9,248 | 9,137 | 15,393 | 19,337 |
Salt Life Group [Member] | |||||
Net sales | 11,851 | 10,075 | 32,448 | 30,371 | |
Corporate, Non-Segment [Member] | |||||
Selling, general and administrative expenses | 3,508 | 3,554 | 1,989 | 1,522 | |
Operating Segments [Member] | |||||
Segment operating income | 11,844 | 10,222 | 21,001 | 23,632 | |
Operating Segments [Member] | Delta Group [Member] | |||||
Net sales | 107,409 | 102,107 | 291,325 | 272,157 | |
Operating Segments [Member] | Salt Life Group [Member] | |||||
Segment operating income | [2] | $ 2,596 | $ 1,085 | $ 5,608 | $ 4,295 |
[1] | In the quarter ended December 29, 2018, the Delta Group operating income included $2.5 million of expense incurred in connection with the settlement of litigation related to the 2016 bankruptcy filing of The Sports Authority. See Note M - Legal Proceedings. | ||||
[2] | In the quarter ended June 29, 2019, the Salt Life Group operating income included a discrete gain of $1.3 million realized from the settlement of a commercial litigation matter. |
Note K - Income Taxes (Details
Note K - Income Taxes (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 29, 2018 | Dec. 30, 2017 | Jun. 29, 2019 | Jun. 30, 2018 | Sep. 28, 2019 | Sep. 29, 2018 | |
Tax Cuts and Jobs Act, Incomplete Accounting, Provisional Income Tax Expense (Benefit), Total | $ 0.1 | $ 10.6 | $ 10.6 | $ 10.7 | ||
Tax Cuts and Jobs Act, Incomplete Accounting, Transition Tax Payment Term | 8 years | |||||
Effective Income Tax Rate Reconciliation, Percent, Total | 16.80% | 10.50% | 1.70% | |||
Open Tax Year | 2015 2016 2017 | |||||
Forecast [Member] | Minimum [Member] | ||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 17.00% | |||||
Forecast [Member] | Maximum [Member] | ||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 19.00% |
Note L - Derivatives and Fair_3
Note L - Derivatives and Fair Value Measurements (Details Textual) - USD ($) $ in Millions | Mar. 09, 2019 | Mar. 30, 2019 | Jun. 29, 2019 | Sep. 29, 2018 | Sep. 29, 2018 |
Payment for Contingent Consideration Liability, Operating Activities | $ 0.6 | ||||
Salt Life Acquisition [Member] | |||||
Business Combination, Contingent Consideration, Liability, Total | 0.2 | ||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ (1.1) | ||||
Teeshirt Ink, Inc [Member] | |||||
Business Combination, Contingent Consideration, Liability, Total | 9.4 | ||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ 0.6 | $ (1.1) | |||
Payments to Acquire Businesses, Gross | $ 16.6 | ||||
Payment for Contingent Consideration Liability, Operating Activities | $ 0.6 | ||||
Teeshirt Ink, Inc [Member] | Other Operating Income (Expense) [Member] | |||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ 0.5 |
Note L - Derivatives and Fair_4
Note L - Derivatives and Fair Value Measurements - Outstanding Instruments (Details) $ in Millions | Jun. 29, 2019USD ($) |
Interest Rate Swap Maturing July 19, 2019 [Member] | |
National amount | $ 10 |
Fixed LIBOR Rate | 1.74% |
Interest Rate Swap Maturing May 10, 2021 [Member] | |
National amount | $ 10 |
Fixed LIBOR Rate | 1.99% |
Interest Rate Swap Maturing July 25, 2023 [Member] | |
National amount | $ 20 |
Fixed LIBOR Rate | 3.18% |
Note L - Derivatives and Fair_5
Note L - Derivatives and Fair Value Measurements - Financial Assets (Liabilities) Measured at Fair Value (Details) - USD ($) $ in Thousands | Jun. 29, 2019 | Sep. 29, 2018 |
Interest Rate Swap [Member] | ||
Derivative Liabilities | $ (1,184) | |
Derivative asset | $ 183 | |
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative Liabilities | ||
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative Liabilities | (1,184) | |
Derivative asset | 183 | |
Interest Rate Swap [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative Liabilities | ||
Cotton Options [Member] | ||
Derivative Liabilities | (110) | |
Cotton Options [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative Liabilities | (110) | |
Cotton Options [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative Liabilities | ||
Cotton Options [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative Liabilities | ||
Contingent Consideration [Member] | ||
Derivative Liabilities | (9,394) | (10,542) |
Contingent Consideration [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative Liabilities | ||
Contingent Consideration [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative Liabilities | ||
Contingent Consideration [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative Liabilities | $ (9,394) | $ (10,542) |
Note L - Derivatives and Fair_6
Note L - Derivatives and Fair Value Measurements - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands | Jun. 29, 2019 | Sep. 29, 2018 |
Other Assets [Member] | ||
Derivative assets (liabilities) | $ 182 | |
Deferred tax assets [Member] | ||
Derivative assets (liabilities) | 297 | (46) |
Other Noncurrent Liabilities [Member] | ||
Derivative assets (liabilities) | (1,184) | |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Derivative assets (liabilities) | $ (887) | $ 136 |
Note M - Legal Proceedings (Det
Note M - Legal Proceedings (Details Textual) $ in Millions | Nov. 26, 2018USD ($) |
Litigation Settlement, Expense | $ 2.5 |
Note N - Repurchase of Common_3
Note N - Repurchase of Common Stock (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 234 Months Ended | ||||||||
Jun. 29, 2019 | Mar. 30, 2019 | Dec. 29, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 30, 2017 | Jun. 29, 2019 | Jun. 01, 2019 | May 04, 2019 | Sep. 29, 2018 | |
Stock Repurchase Program, Authorized Amount | $ 60,000 | |||||||||
Treasury Stock, Shares, Acquired | 14,000 | 3,498,962 | ||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 309 | $ 717 | $ 1,709 | $ 1,210 | $ 1,463 | $ 3,000 | $ 50,500 | |||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 9,500 | $ 9,500 | $ 9,500 | $ 9,900 |
Note N - Repurchase of Common_4
Note N - Repurchase of Common Stock - Summary of Purchases of Common Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 9 Months Ended | ||
Jun. 29, 2019 | Jun. 01, 2019 | May 04, 2019 | Jun. 29, 2019 | |
Average price paid per share (in dollars per share) | $ 21.97 | $ 21.97 | ||
Dollar value of shares that my yet be purchased | $ 9.5 | $ 9.5 | $ 9.9 | $ 9.5 |
Common Stock [Member] | ||||
Stock repurchased (in shares) | 14,000 | 14,000 | ||
Common Stock [Member] | Publicly Announced Plan [Member] | ||||
Stock repurchased (in shares) | 14,000 | 14,000 |
Note O - Goodwill and Intangi_3
Note O - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Jun. 29, 2019 | Jun. 30, 2018 | Jun. 29, 2019 | Jun. 30, 2018 | Oct. 01, 2011 | Oct. 08, 2018 | Sep. 29, 2018 | |
Goodwill, Acquired During Period | $ 600 | ||||||
Goodwill, Ending Balance | $ 37,897 | $ 37,897 | $ 33,217 | ||||
Amortization of Intangible Assets, Total | 400 | $ 400 | 1,400 | $ 900 | |||
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | 2,000 | 2,000 | |||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 1,800 | 1,800 | |||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 1,700 | 1,700 | |||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 1,700 | 1,700 | |||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 1,700 | 1,700 | |||||
Delta Group [Member] | |||||||
Goodwill, Ending Balance | 18,000 | 18,000 | |||||
Salt Life Group [Member] | |||||||
Goodwill, Ending Balance | $ 19,900 | $ 19,900 | |||||
SSI [Member] | |||||||
Goodwill, Ending Balance | $ 4,500 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 2,900 |
Note O - Goodwill and Intangi_4
Note O - Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Jun. 29, 2019 | Sep. 29, 2018 | |
Goodwill, cost | $ 37,897 | $ 33,217 |
Goodwill, Accumulated Amortization | ||
Goodwill | 37,897 | 33,217 |
Intangibles, Cost | 28,967 | 26,047 |
Intangibles, Accumulated Amortization | (6,908) | (5,549) |
Intangibles, Net Value | 22,059 | 20,498 |
Trademarks and Trade Names [Member] | ||
Intangibles, Cost | 16,090 | 16,090 |
Intangibles, Accumulated Amortization | (3,143) | (2,736) |
Intangibles, Net Value | $ 12,947 | 13,354 |
Trademarks and Trade Names [Member] | Minimum [Member] | ||
Economic Life (Year) | 20 years | |
Trademarks and Trade Names [Member] | Maximum [Member] | ||
Economic Life (Year) | 30 years | |
Customer Relationships [Member] | ||
Intangibles, Cost | $ 7,400 | 4,500 |
Intangibles, Accumulated Amortization | (808) | (253) |
Intangibles, Net Value | $ 6,592 | 4,247 |
Customer Relationships [Member] | Minimum [Member] | ||
Economic Life (Year) | 8 years | |
Customer Relationships [Member] | Maximum [Member] | ||
Economic Life (Year) | 10 years | |
Technology-Based Intangible Assets [Member] | ||
Intangibles, Cost | $ 1,720 | 1,720 |
Intangibles, Accumulated Amortization | (1,243) | (1,105) |
Intangibles, Net Value | $ 477 | 615 |
Economic Life (Year) | 10 years | |
Licensing Agreements [Member] | ||
Intangibles, Cost | $ 2,100 | 2,100 |
Intangibles, Accumulated Amortization | (604) | (527) |
Intangibles, Net Value | $ 1,418 | 1,573 |
Licensing Agreements [Member] | Minimum [Member] | ||
Economic Life (Year) | 15 years | |
Licensing Agreements [Member] | Maximum [Member] | ||
Economic Life (Year) | 30 years | |
Noncompete Agreements [Member] | ||
Intangibles, Cost | $ 1,657 | 1,637 |
Intangibles, Accumulated Amortization | (1,110) | (928) |
Intangibles, Net Value | $ 625 | $ 709 |
Noncompete Agreements [Member] | Minimum [Member] | ||
Economic Life (Year) | 4 years | |
Noncompete Agreements [Member] | Maximum [Member] | ||
Economic Life (Year) | 8 years 182 days |