Document And Entity Information
Document And Entity Information | 9 Months Ended | |
Jul. 02, 2022 | Jul. 19, 2022 shares | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001101396 | |
Entity Registrant Name | DELTA APPAREL, INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --10-01 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jul. 02, 2022 | |
Document Transition Report | false | |
Entity File Number | 1-15583 | |
Entity Incorporation, State or Country Code | GA | |
Entity Tax Identification Number | 58-2508794 | |
Entity Address, Address Line One | 2750 Premier Parkway, Suite 100 | |
Entity Address, City or Town | Duluth | |
Entity Address, State or Province | GA | |
Entity Address, Postal Zip Code | 30097 | |
City Area Code | 678 | |
Local Phone Number | 775-6900 | |
Title of 12(b) Security | Common Stock, par value $0.01 | |
Trading Symbol | DLA | |
Security Exchange Name | NYSEAMER | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 6,914,939 | |
Entity Number of Employees | 9,100 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jul. 02, 2022 | Oct. 02, 2021 |
Assets | ||
Cash and cash equivalents | $ 542 | $ 9,376 |
Accounts receivable, less allowances of $91 and $251, respectively | 68,435 | 66,973 |
Other receivables | 1,433 | 761 |
Income tax receivable | 0 | 356 |
Inventories, net | 227,671 | 161,703 |
Prepaid expenses and other current assets | 3,798 | 3,794 |
Total current assets | 301,879 | 242,963 |
Property, plant and equipment, net of accumulated depreciation of $105,998 and $99,225, respectively | 75,144 | 67,564 |
Goodwill | 37,897 | 37,897 |
Intangibles, net | 24,627 | 26,291 |
Deferred income taxes | 1,164 | 1,854 |
Operating lease assets | 47,570 | 45,279 |
Equity method investment | 10,277 | 10,433 |
Other assets | 2,893 | 2,007 |
Total assets | 501,451 | 434,288 |
Liabilities: | ||
Accounts payable | 76,244 | 52,936 |
Accrued expenses | 25,936 | 29,949 |
Income taxes payable | 666 | 379 |
Current portion of finance leases | 8,265 | 6,621 |
Current portion of operating leases | 8,044 | 8,509 |
Current portion of long-term debt | 7,615 | 7,067 |
Current portion of contingent consideration | 563 | 0 |
Total current liabilities | 127,333 | 105,461 |
Long-term income taxes payable | 2,841 | 3,220 |
Long-term finance leases | 18,802 | 15,669 |
Long-term operating leases | 40,940 | 38,546 |
Long-term debt | 128,230 | 101,680 |
Long-term contingent consideration | 0 | 1,897 |
Other non-current liabilities | 1,591 | 3,621 |
Total liabilities | 319,737 | 270,094 |
Shareholder's equity: | ||
Preferred stock - $0.01 par value, 2,000,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock - $0.01 par value, 15,000,000 authorized, 9,646,972 shares issued, and 6,914,939 and 6,974,660 shares outstanding as of June 2022 and September 2021, respectively | 96 | 96 |
Additional paid-in capital | 60,822 | 60,831 |
Retained earnings | 166,882 | 146,860 |
Accumulated other comprehensive loss | (7) | (786) |
Treasury stock - 2,732,033 and 2,672,312 shares as of June 2022 and September 2021, respectively | (45,432) | (42,149) |
Equity attributable to Delta Apparel, Inc. | 182,361 | 164,852 |
Equity attributable to non-controlling interest | (647) | (658) |
Total equity | 181,714 | 164,194 |
Total liabilities and equity | $ 501,451 | $ 434,288 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jul. 02, 2022 | Oct. 02, 2021 |
Allowances for accounts receivable | $ 91 | $ 251 |
Property, plant and equipment, accumulated deprecation | $ 105,998 | $ 99,225 |
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 outstanding (in shares) | 6,914,939 | 6,974,660 |
Treasury stock (in shares) | 2,732,033 | 2,672,312 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 02, 2022 | Jul. 03, 2021 | Jul. 02, 2022 | Jul. 03, 2021 | |
Net sales | $ 126,875 | $ 118,666 | $ 369,319 | $ 322,015 |
Cost of goods sold | 96,182 | 88,427 | 282,100 | 246,677 |
Gross profit | 30,693 | 30,239 | 87,219 | 75,338 |
Selling, general and administrative expenses | 22,416 | 19,914 | 59,613 | 53,005 |
Other (income), net | (1,018) | (1,578) | (1,947) | (218) |
Operating income | 9,295 | 11,903 | 29,553 | 22,551 |
Interest expense, net | 1,971 | 1,735 | 5,370 | 5,225 |
Earnings before provision for income taxes | 7,324 | 10,168 | 24,183 | 17,326 |
Provision for income taxes | 1,087 | 2,019 | 4,149 | 4,032 |
Consolidated net earnings | 6,237 | 8,149 | 20,034 | 13,294 |
Net (loss) income attributable to non-controlling interest | (3) | (12) | 11 | (149) |
Net earnings attributable to shareholders | $ 6,240 | $ 8,161 | $ 20,023 | $ 13,443 |
Basic earnings per share (in dollars per share) | $ 0.90 | $ 1.17 | $ 2.87 | $ 1.93 |
Diluted earnings per share (in dollars per share) | $ 0.88 | $ 1.14 | $ 2.84 | $ 1.90 |
Weighted average number of shares outstanding (in shares) | 6,946 | 6,975 | 6,966 | 6,956 |
Dilutive effect of stock awards (in shares) | 119 | 153 | 95 | 121 |
Weighted average number of shares assuming dilution (in shares) | 7,065 | 7,128 | 7,061 | 7,077 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 02, 2022 | Jul. 03, 2021 | Jul. 02, 2022 | Jul. 03, 2021 | |
Net earnings attributable to shareholders | $ 6,240 | $ 8,161 | $ 20,023 | $ 13,443 |
Other comprehensive income related to unrealized gain on derivatives, net of income tax | 186 | 105 | 779 | 429 |
Consolidated comprehensive income | $ 6,426 | $ 8,266 | $ 20,802 | $ 13,872 |
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 Oct. 03, 2020 | 9,646,972 | 2,756,854 | |||||
Balance at Oct. 03, 2020 | $ 96 | $ 61,005 | $ 126,564 | $ (1,322) | $ (43,133) | $ (524) | $ 142,686 |
Net earnings | 0 | 0 | 883 | 0 | 0 | 0 | 883 |
Other comprehensive income (loss) | 0 | 0 | 0 | 125 | 0 | 0 | 125 |
Net (loss) income attributable to non-controlling interest | $ 0 | 0 | 0 | 0 | $ 0 | (40) | (40) |
Vested stock awards (in shares) | 0 | (84,542) | |||||
Vested stock awards | $ 0 | (2,117) | 0 | 0 | $ 984 | 0 | (1,133) |
Stock based compensation | 0 | 676 | 0 | 0 | 0 | 0 | 676 |
Net earnings attributable to shareholders | 0 | 0 | 883 | 0 | 0 | 0 | 883 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | 125 | $ 0 | 0 | 125 |
Balance (in shares) at Jan. 02, 2021 | 9,646,972 | 2,672,312 | |||||
Balance at Jan. 02, 2021 | $ 96 | 59,564 | 127,447 | (1,197) | $ (42,149) | (564) | 143,197 |
Balance (in shares) at Oct. 03, 2020 | 9,646,972 | 2,756,854 | |||||
Balance at Oct. 03, 2020 | $ 96 | 61,005 | 126,564 | (1,322) | $ (43,133) | (524) | 142,686 |
Net earnings | 13,443 | ||||||
Net (loss) income attributable to non-controlling interest | (149) | ||||||
Net earnings attributable to shareholders | 13,443 | ||||||
Balance (in shares) at Jul. 03, 2021 | 9,646,972 | 2,672,312 | |||||
Balance at Jul. 03, 2021 | $ 96 | 60,284 | 140,006 | (893) | $ (42,149) | (673) | 156,671 |
Balance (in shares) at Jan. 02, 2021 | 9,646,972 | 2,672,312 | |||||
Balance at Jan. 02, 2021 | $ 96 | 59,564 | 127,447 | (1,197) | $ (42,149) | (564) | 143,197 |
Net earnings | 0 | 0 | 4,398 | 0 | 0 | 0 | 4,398 |
Other comprehensive income (loss) | 0 | 0 | 0 | 199 | 0 | 0 | 199 |
Net (loss) income attributable to non-controlling interest | 0 | 0 | 0 | 0 | 0 | (97) | (97) |
Vested stock awards | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Stock based compensation | 0 | 278 | 0 | 0 | 0 | 0 | 278 |
Purchase of common stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Net earnings attributable to shareholders | 0 | 0 | 4,398 | 0 | 0 | 0 | 4,398 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | 199 | $ 0 | 0 | 199 |
Balance (in shares) at Apr. 03, 2021 | 9,646,972 | 2,672,312 | |||||
Balance at Apr. 03, 2021 | $ 96 | 59,842 | 131,845 | (998) | $ (42,149) | (661) | 147,975 |
Net earnings | 0 | 0 | 8,161 | 0 | 0 | 0 | 8,161 |
Other comprehensive income (loss) | 0 | 0 | 0 | 105 | 0 | 0 | 105 |
Net (loss) income attributable to non-controlling interest | 0 | 0 | 0 | 0 | 0 | (12) | (12) |
Stock based compensation | 0 | 442 | 0 | 0 | 0 | 0 | 442 |
Net earnings attributable to shareholders | 0 | 0 | 8,161 | 0 | 0 | 0 | 8,161 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | 105 | $ 0 | 0 | 105 |
Balance (in shares) at Jul. 03, 2021 | 9,646,972 | 2,672,312 | |||||
Balance at Jul. 03, 2021 | $ 96 | 60,284 | 140,006 | (893) | $ (42,149) | (673) | $ 156,671 |
Balance (in shares) at Oct. 02, 2021 | 9,646,972 | 2,672,312 | 6,974,660 | ||||
Balance at Oct. 02, 2021 | $ 96 | 60,831 | 146,860 | (786) | $ (42,149) | (658) | $ 164,194 |
Net earnings | 0 | 0 | 3,645 | 0 | 0 | 0 | 3,645 |
Other comprehensive income (loss) | 0 | 0 | 0 | 212 | 0 | 0 | 212 |
Net (loss) income attributable to non-controlling interest | $ 0 | 0 | 0 | 0 | $ 0 | 25 | 25 |
Vested stock awards (in shares) | 0 | (76,460) | |||||
Vested stock awards | $ 0 | (1,766) | 0 | 0 | $ 674 | 0 | (1,092) |
Stock based compensation | 0 | 140 | 0 | 0 | 0 | 0 | 140 |
Purchase of common stock | 0 | 0 | 0 | 0 | (2,143) | 0 | (2,143) |
Net earnings attributable to shareholders | 0 | 0 | 3,645 | 0 | 0 | 0 | 3,645 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | 212 | $ 0 | 0 | 212 |
Purchase of common stock (in shares) | 0 | 74,232 | |||||
Balance (in shares) at Jan. 01, 2022 | 9,646,972 | 2,670,084 | |||||
Balance at Jan. 01, 2022 | $ 96 | 59,205 | 150,505 | (574) | $ (43,618) | (633) | $ 164,981 |
Balance (in shares) at Oct. 02, 2021 | 9,646,972 | 2,672,312 | 6,974,660 | ||||
Balance at Oct. 02, 2021 | $ 96 | 60,831 | 146,860 | (786) | $ (42,149) | (658) | $ 164,194 |
Net earnings | 20,023 | ||||||
Net (loss) income attributable to non-controlling interest | 11 | ||||||
Net earnings attributable to shareholders | $ 20,023 | ||||||
Balance (in shares) at Jul. 02, 2022 | 9,646,972 | 2,732,033 | 6,914,939 | ||||
Balance at Jul. 02, 2022 | $ 96 | 60,822 | 166,882 | (7) | $ (45,432) | (647) | $ 181,714 |
Balance (in shares) at Jan. 01, 2022 | 9,646,972 | 2,670,084 | |||||
Balance at Jan. 01, 2022 | $ 96 | 59,205 | 150,505 | (574) | $ (43,618) | (633) | 164,981 |
Net earnings | 0 | 0 | 10,137 | 0 | 0 | 0 | 10,137 |
Other comprehensive income (loss) | 0 | 0 | 0 | 381 | 0 | 0 | 381 |
Net (loss) income attributable to non-controlling interest | 0 | 0 | 0 | 0 | 0 | (11) | (11) |
Stock based compensation | 0 | 714 | 0 | 0 | 0 | 0 | 714 |
Purchase of common stock | 0 | 0 | 0 | 0 | (846) | 0 | (846) |
Net earnings attributable to shareholders | 0 | 0 | 10,137 | 0 | 0 | 0 | 10,137 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | 381 | $ 0 | 0 | 381 |
Purchase of common stock (in shares) | 0 | 28,015 | |||||
Balance (in shares) at Apr. 02, 2022 | 9,646,972 | 2,698,099 | |||||
Balance at Apr. 02, 2022 | $ 96 | 59,919 | 160,642 | (193) | $ (44,464) | (644) | 175,356 |
Net earnings | 0 | 0 | 6,240 | 0 | 0 | 0 | 6,240 |
Other comprehensive income (loss) | 0 | 0 | 0 | 186 | 0 | 0 | 186 |
Net (loss) income attributable to non-controlling interest | 0 | 0 | 0 | 0 | 0 | (3) | (3) |
Stock based compensation | 0 | 903 | 0 | 0 | 0 | 0 | 903 |
Purchase of common stock | 0 | 0 | 0 | 0 | (968) | 0 | (968) |
Net earnings attributable to shareholders | 0 | 0 | 6,240 | 0 | 0 | 0 | 6,240 |
Other comprehensive income (loss) | $ 0 | 0 | 0 | 186 | $ 0 | 0 | $ 186 |
Purchase of common stock (in shares) | 0 | 33,934 | 33,934 | ||||
Balance (in shares) at Jul. 02, 2022 | 9,646,972 | 2,732,033 | 6,914,939 | ||||
Balance at Jul. 02, 2022 | $ 96 | $ 60,822 | $ 166,882 | $ (7) | $ (45,432) | $ (647) | $ 181,714 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Jul. 02, 2022 | Jul. 03, 2021 | |
Operating activities: | ||
Consolidated net earnings | $ 20,034 | $ 13,294 |
Adjustments to reconcile net earnings to net cash used in operating activities: | ||
Depreciation and amortization | 11,272 | 10,212 |
Amortization of deferred financing fees | 244 | 244 |
Provision for inventory market reserves | 1,484 | 1,447 |
Change in reserves for allowances on accounts receivable, net | (160) | (511) |
Provision for deferred income taxes | 488 | 912 |
Non-cash stock compensation | 1,756 | 1,396 |
Loss (gain) on disposal of equipment | 348 | (2) |
Other, net | (2,263) | (1,672) |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (1,251) | (5,458) |
Inventories, net | (67,452) | (8,244) |
Prepaid expenses and other current assets | 602 | (2,136) |
Other non-current assets | 199 | 1,264 |
Accounts payable | 23,390 | (5,191) |
Accrued expenses | (1,737) | 3,592 |
Net operating lease liabilities | 409 | 543 |
Income taxes | 264 | 1,939 |
Other liabilities | (1,049) | (626) |
Net cash (used in) provided by operating activities | (13,422) | 11,003 |
Investing activities: | ||
Purchases of property and equipment | (10,931) | (1,676) |
Proceeds from equipment purchased under finance leases | 0 | 2,312 |
Proceeds from sale of equipment | 33 | 422 |
Cash paid for intangible asset | (132) | (6,655) |
Cash paid for business | (583) | (2,527) |
Net cash used in investing activities | (11,613) | (8,124) |
Financing activities: | ||
Proceeds from long-term debt | 411,600 | 346,841 |
Repayment of long-term debt | (383,919) | (346,131) |
Repayment of finance lease obligations | (5,604) | (5,415) |
Payment of contingent consideration | 0 | (2,110) |
Payment of deferred financing cost | (850) | |
Repurchase of common stock | (3,934) | 0 |
Payment of withholding taxes on stock awards | (1,092) | (1,133) |
Net cash provided by (used in) financing activities | 16,201 | (7,948) |
Net decrease in cash and cash equivalents | (8,834) | (5,069) |
Cash and cash equivalents at beginning of period | 9,376 | 16,458 |
Cash and cash equivalents at end of period | 542 | 11,389 |
Supplemental cash flow information | ||
Finance lease assets exchanged for finance lease liabilities | 10,381 | 12,290 |
Operating lease assets exchanged for operating lease liabilities | $ 6,869 | $ 1,032 |
Note A - Description of Busines
Note A - Description of Business and Basis of Presentation | 9 Months Ended |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Delta Apparel, Inc. (collectively with DTG2Go, DTG2Go's may We design and internally manufacture the majority of our products. More than 90% 1999, We operate on a 52 53 September 30. 2022 52 October 1, 2022 ( 2022" 10 third 2022. 2021 52 October 2, 2021 ( 2021" For presentation purposes herein, all references to period ended relate to the following fiscal years and dates: Period Ended Fiscal Year Date Ended June 2021 Fiscal 2021 July 3, 2021 September 2021 Fiscal 2021 October 2, 2021 December 2021 Fiscal 2022 January 1, 2022 March 2022 Fiscal 2022 April 2, 2022 June 2022 Fiscal 2022 July 2, 2022 We prepared the accompanying interim Condensed Consolidated Financial Statements in accordance with the instructions for Form 10 10 X. not three nine June 2022 not may 2022. June December 10 2021, Our Condensed Consolidated Financial Statements include the accounts of Delta Apparel and its wholly-owned and majority-owned domestic and foreign subsidiaries. We apply the equity method of accounting for our investment in 31% of the outstanding capital stock of a Honduran company. During the nine June 2022 June 2021, nine June 2022, nine June 2021, June 2020 We make available copies of materials we file with, or furnish to, the SEC free of charge at https://ir.deltaapparelinc.com. The information found on our website is not no 2750 100, 30097. 864 232 5200, |
Note B - Accounting Policies
Note B - Accounting Policies | 9 Months Ended |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Our accounting policies are consistent with those described in our Significant Accounting Policies in our Annual Report on Form 10 2021, |
Note C - New Accounting Standar
Note C - New Accounting Standards | 9 Months Ended |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Recently Adopted Standards In December 2019, No. 2019 12, Simplifying the Accounting for Income Taxes 2019 12” 740, 2019 12 2022. 2019 12 not Standards Not In June 2016, No. 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13” 2016 13, 326, 326” 326 2024. 326 In March 2020, 2020 04, Reference Rate Reform (Topic 848 2020 04 may may December 31, 2022. not . |
Note D - Revenue Recognition
Note D - Revenue Recognition | 9 Months Ended |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Our Condensed Consolidated Statements of Operations include revenue streams from retail sales at our branded retail stores; direct-to-consumer ecommerce sales on our consumer-facing web sites; and sales from wholesale channels, which includes our business-to-business ecommerce and DTG2Go Three Months Ended June 2022 June 2021 Retail $ 4,412 3 % $ 3,543 3 % Direct-to-consumer ecommerce 1,145 1 % 2,105 2 % Wholesale 121,318 96 % 113,018 95 % Net sales $ 126,875 100 % $ 118,666 100 % Nine Months Ended June 2022 June 2021 Retail $ 9,685 3 % $ 8,429 3 % Direct-to-consumer ecommerce 3,199 1 % 5,393 2 % Wholesale 356,435 96 % 308,193 95 % Net sales $ 369,319 100 % $ 322,015 100 % The table below provides net sales by reportable segment and the percentage of net sales by distribution channel for each reportable segment (in thousands): Three Months Ended June 2022 Net Sales Retail Direct-to-consumer ecommerce Wholesale Delta Group $ 106,020 0.1 % 0.4 % 99.5 % Salt Life Group 20,855 20.8 % 3.4 % 75.8 % Total $ 126,875 Three Months Ended June 2021 Net Sales Retail Direct-to-consumer ecommerce Wholesale Delta Group $ 102,562 0.2 % 0.3 % 99.5 % Salt Life Group 16,104 20.6 % 11.1 % 68.3 % Total $ 118,666 Nine Months Ended June 2022 Net Sales Retail Direct-to-consumer ecommerce Wholesale Delta Group $ 323,276 0.1 % 0.3 % 99.6 % Salt Life Group 46,043 20.3 % 5.0 % 74.7 % Total $ 369,319 Nine Months Ended June 2021 Net Sales Retail Direct-to-consumer ecommerce Wholesale Delta Group $ 284,404 0.3 % 0.3 % 99.4 % Salt Life Group 37,611 20.6 % 12.1 % 67.3 % Total $ 322,015 |
Note E - Inventories
Note E - Inventories | 9 Months Ended |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Inventories, net of reserves of $17.4 million and $15.9 million as of June 2022 September 2021, June 2022 September 2021 Raw materials $ 23,660 $ 17,204 Work in process 23,005 20,954 Finished goods 181,006 123,545 $ 227,671 $ 161,703 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 |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | Note F—Debt Credit Facility On May 10, 2016, DTG2Go, November 27, 2017, March 9, 2018, October 8, 2018, November 19, 2019, April 27, 2020, August 28, 2020. On June 2, 2022, 1 3 not The Amended Credit Agreement allows us to borrow up to $170 million (subject to borrowing base limitations), including a maximum of $25 million in letters of credit. Provided that no 470, Debt 470" not As of June 2022, of 3.4% led $30.8 millio June 2022 September 2021 s $25.0 milli Promissory Note On October 8, 2018, January 2, 2019, October 1, 2021. three December 2021. Honduran Debt Since March 2011, December 2020, five May 2022, five first not June 2022 June 2022 Revolving credit facility established December 2020, interest at 7.25% August 2025 $ 2,000 Term loan established December 2020, interest at 7.5% December 2025 7,100 Term loan established May 2022, interest at 7.5% May 2027 3,656 |
Note G - Selling, General and A
Note G - Selling, General and Administrative Expense | 9 Months Ended |
Jul. 02, 2022 | |
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 $5.6 million and $5.2 million for the June 2022 2021 nine June 2022 2021, |
Note H - Stock-based Compensati
Note H - Stock-based Compensation | 9 Months Ended |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note H—Stock-Based Compensation On February 6, 2020, 2020 "2020 2010 February 4, 2015 September 14, 2020. 2020 2010 2020 2020 may 2020 not 2020 2020 2010 2020 may 2020 Compensation expense is recorded within SG&A in our Condensed Consolidated Statements of Operations over the vesting periods. During the June 2022 2021 three June 2022 June 2021, nine June 2022 June 2021, nine June 2022 June 2021. During the December 2021 10 2021, During the December 2021 10 2022 During the December 2021 2023. During the December 2021 10 2024 During the March 2022 2023. During the March 2022 2024. During the June 2022 10 2022 2023. 2024. During the June 2022 10 2023. 10 2024. As of June 2022, 4.9 mill 2020 |
Note I - Purchase Contracts
Note I - Purchase Contracts | 9 Months Ended |
Jul. 02, 2022 | |
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 2022, Yarn $ 30,480 Finished fabric 7,620 Finished products 11,059 $ 49,159 |
Note J - Business Segments
Note J - Business Segments | 9 Months Ended |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note J—Business Segments Our operations are managed and reported in two The Delta Group is comprised of our business units primarily focused on core activewear styles, and includes our DTG2Go The Salt Life Group is comprised of our lifestyle brand focused on a broad range of apparel garments, headwear and related accessories to meet consumer preferences and fashion trends, and includes our Salt Life business unit. 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 brand 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 earnings"). Our segment operating earnings may not 2 10 2021, Three Months Ended Nine Months Ended June 2022 June 2021 June 2022 June 2021 Segment net sales: Delta Group $ 106,020 $ 102,562 $ 323,276 $ 284,404 Salt Life Group 20,855 16,104 46,043 37,611 Total net sales $ 126,875 $ 118,666 $ 369,319 $ 322,015 Segment operating earnings: Delta Group (1) $ 10,701 $ 13,869 $ 33,557 $ 28,394 Salt Life Group 3,574 2,916 7,037 4,726 Total segment operating earnings $ 14,275 $ 16,785 $ 40,594 $ 33,120 ( 1 2021, two December 2020 The following table reconciles the segment operating earnings to the consolidated earnings before provision for income taxes (in thousands): Three Months Ended Nine Months Ended June 2022 June 2021 June 2022 June 2021 Segment operating earnings $ 14,275 $ 16,785 $ 40,594 $ 33,120 Unallocated corporate expenses 4,980 4,882 11,041 10,569 Unallocated interest expense 1,971 1,735 5,370 5,225 Consolidated earnings before provision for income taxes $ 7,324 $ 10,168 $ 24,183 $ 17,326 |
Note K - Income Taxes
Note K - Income Taxes | 9 Months Ended |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note K—Income Taxes The Tax Cuts and Jobs Act of 2017 December 22, 2017, eight 163 50% 163 not 30% 163 not Our effective income tax rate on operations for the nine June 2022 2021. |
Note L - Derivatives and Fair V
Note L - Derivatives and Fair Value Measurements | 9 Months Ended |
Jul. 02, 2022 | |
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 2022, none June 2022 Notional Effective Date Amount Fixed LIBOR Rate Maturity Date Interest Rate Swap July 25, 2018 $20.0 million 3.18% July 25, 2023 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 2022 September 2021 ( June 2022 September 2021 Deferred tax assets $ 1 $ 266 Other non-current liabilities (8 ) (1,052 ) Accumulated other comprehensive loss $ (7 ) $ (786 ) From time to time, we may not No June 2022 September 2021. ASC 820, Fair Value Measurements and Disclosures 820” three ○ Level 1 ○ Level 2 ○ Level 3 no The following financial 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 2022 $ (8 ) — $ (8 ) — September 2021 $ (1,052 ) — $ (1,052 ) — Contingent Consideration June 2022 $ (563 ) — — $ (563 ) September 2021 $ (1,897 ) — — $ (1,897 ) 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 2022 September 2021, 2 The DTG2Go April 1, 2018, September 29, 2018, 2019, 2020, 2021 2022. June 2022, September 2021 |
Note M - Legal Proceedings
Note M - Legal Proceedings | 9 Months Ended |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | Note M—Legal Proceedings 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 |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | Note N—Repurchase of Common Stock As of September 28, 2019, June 2022 June 2022, 10b 18. June 2022, not |
Note O - Goodwill and Intangibl
Note O - Goodwill and Intangible Assets | 9 Months Ended |
Jul. 02, 2022 | |
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 2022 September 2021 Cost Accumulated Amortization Net Value Cost Accumulated Amortization Net Value Economic Life Goodwill $ 37,897 $ — $ 37,897 $ 37,897 $ — $ 37,897 N/A Intangibles: Tradename/trademarks $ 16,000 $ (4,717 ) $ 11,283 $ 16,000 $ (4,317 ) $ 11,683 20 – 30 yrs Customer relationships 7,400 (3,028 ) 4,372 7,400 (2,473 ) 4,927 20 yrs Technology 10,083 (2,385 ) 7,698 9,952 (1,715 ) 8237 10 yrs License agreements 2,100 (914 ) 1,186 2,100 (837 ) 1,263 15 – 30 yrs Non-compete agreements 1,657 (1,569 ) 88 1,657 (1,476 ) 181 4 – 8.5 yrs Total intangibles $ 37,240 $ (12,613 ) $ 24,627 $ 37,109 $ (10,818 ) $ 26,291 Goodwill represents the acquired goodwill net of the $0.6 million impairment losses recorded in fiscal year 2011. June 2022, Depending on the type of intangible asset, amortization is recorded under cost of goods sold or selling, general and administrative expenses. Amortization expense for intangible assets for the June 2022 June 2021 nine June 2022 June 2021 September 2022, September 2023, $2.2 September 2024, 2025 2026. On June 1, 2021, DTG2Go, $1.4 three one third 2022 two 2017 01, Clarifying the Definition of a Business June 1, 2021 October 2, 2021, 2022 2026. fourth |
Note P - Subsequent Events
Note P - Subsequent Events | 9 Months Ended |
Jul. 02, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note P—Subsequent Events None. |
Note D - Revenue Recognition (T
Note D - Revenue Recognition (Tables) | 9 Months Ended |
Jul. 02, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended June 2022 June 2021 Retail $ 4,412 3 % $ 3,543 3 % Direct-to-consumer ecommerce 1,145 1 % 2,105 2 % Wholesale 121,318 96 % 113,018 95 % Net sales $ 126,875 100 % $ 118,666 100 % Nine Months Ended June 2022 June 2021 Retail $ 9,685 3 % $ 8,429 3 % Direct-to-consumer ecommerce 3,199 1 % 5,393 2 % Wholesale 356,435 96 % 308,193 95 % Net sales $ 369,319 100 % $ 322,015 100 % Three Months Ended June 2022 Net Sales Retail Direct-to-consumer ecommerce Wholesale Delta Group $ 106,020 0.1 % 0.4 % 99.5 % Salt Life Group 20,855 20.8 % 3.4 % 75.8 % Total $ 126,875 Three Months Ended June 2021 Net Sales Retail Direct-to-consumer ecommerce Wholesale Delta Group $ 102,562 0.2 % 0.3 % 99.5 % Salt Life Group 16,104 20.6 % 11.1 % 68.3 % Total $ 118,666 Nine Months Ended June 2022 Net Sales Retail Direct-to-consumer ecommerce Wholesale Delta Group $ 323,276 0.1 % 0.3 % 99.6 % Salt Life Group 46,043 20.3 % 5.0 % 74.7 % Total $ 369,319 Nine Months Ended June 2021 Net Sales Retail Direct-to-consumer ecommerce Wholesale Delta Group $ 284,404 0.3 % 0.3 % 99.4 % Salt Life Group 37,611 20.6 % 12.1 % 67.3 % Total $ 322,015 |
Note E - Inventories (Tables)
Note E - Inventories (Tables) | 9 Months Ended |
Jul. 02, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 2022 September 2021 Raw materials $ 23,660 $ 17,204 Work in process 23,005 20,954 Finished goods 181,006 123,545 $ 227,671 $ 161,703 |
Note F - Debt (Tables)
Note F - Debt (Tables) | 9 Months Ended |
Jul. 02, 2022 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | June 2022 Revolving credit facility established December 2020, interest at 7.25% August 2025 $ 2,000 Term loan established December 2020, interest at 7.5% December 2025 7,100 Term loan established May 2022, interest at 7.5% May 2027 3,656 |
Note I - Purchase Contracts (Ta
Note I - Purchase Contracts (Tables) | 9 Months Ended |
Jul. 02, 2022 | |
Notes Tables | |
Long-Term Purchase Commitment [Table Text Block] | Yarn $ 30,480 Finished fabric 7,620 Finished products 11,059 $ 49,159 |
Note J - Business Segments (Tab
Note J - Business Segments (Tables) | 9 Months Ended |
Jul. 02, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Nine Months Ended June 2022 June 2021 June 2022 June 2021 Segment net sales: Delta Group $ 106,020 $ 102,562 $ 323,276 $ 284,404 Salt Life Group 20,855 16,104 46,043 37,611 Total net sales $ 126,875 $ 118,666 $ 369,319 $ 322,015 Segment operating earnings: Delta Group (1) $ 10,701 $ 13,869 $ 33,557 $ 28,394 Salt Life Group 3,574 2,916 7,037 4,726 Total segment operating earnings $ 14,275 $ 16,785 $ 40,594 $ 33,120 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Three Months Ended Nine Months Ended June 2022 June 2021 June 2022 June 2021 Segment operating earnings $ 14,275 $ 16,785 $ 40,594 $ 33,120 Unallocated corporate expenses 4,980 4,882 11,041 10,569 Unallocated interest expense 1,971 1,735 5,370 5,225 Consolidated earnings before provision for income taxes $ 7,324 $ 10,168 $ 24,183 $ 17,326 |
Note L - Derivatives and Fair_2
Note L - Derivatives and Fair Value Measurements (Tables) | 9 Months Ended |
Jul. 02, 2022 | |
Notes Tables | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | Notional Effective Date Amount Fixed LIBOR Rate Maturity Date Interest Rate Swap July 25, 2018 $20.0 million 3.18% July 25, 2023 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | June 2022 September 2021 Deferred tax assets $ 1 $ 266 Other non-current liabilities (8 ) (1,052 ) Accumulated other comprehensive loss $ (7 ) $ (786 ) |
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 2022 $ (8 ) — $ (8 ) — September 2021 $ (1,052 ) — $ (1,052 ) — Contingent Consideration June 2022 $ (563 ) — — $ (563 ) September 2021 $ (1,897 ) — — $ (1,897 ) |
Note O - Goodwill and Intangi_2
Note O - Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Jul. 02, 2022 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | June 2022 September 2021 Cost Accumulated Amortization Net Value Cost Accumulated Amortization Net Value Economic Life Goodwill $ 37,897 $ — $ 37,897 $ 37,897 $ — $ 37,897 N/A Intangibles: Tradename/trademarks $ 16,000 $ (4,717 ) $ 11,283 $ 16,000 $ (4,317 ) $ 11,683 20 – 30 yrs Customer relationships 7,400 (3,028 ) 4,372 7,400 (2,473 ) 4,927 20 yrs Technology 10,083 (2,385 ) 7,698 9,952 (1,715 ) 8237 10 yrs License agreements 2,100 (914 ) 1,186 2,100 (837 ) 1,263 15 – 30 yrs Non-compete agreements 1,657 (1,569 ) 88 1,657 (1,476 ) 181 4 – 8.5 yrs Total intangibles $ 37,240 $ (12,613 ) $ 24,627 $ 37,109 $ (10,818 ) $ 26,291 |
Note A - Description of Busin_2
Note A - Description of Business and Basis of Presentation (Details Textual) $ in Millions | 9 Months Ended | |
Jul. 02, 2022 USD ($) | Jul. 03, 2021 USD ($) | |
Entity Number of Employees | 9,100 | |
Ceiba Textiles Manufacturing Facility Lease [Member] | ||
Operating Lease, Payments | $ 1.3 | $ 1.8 |
Honduran Equity Method Investment [Member] | ||
Equity Method Investment, Ownership Percentage | 31% | |
Proceeds from Equity Method Investment, Distribution | $ 1.1 | $ 0.9 |
Note D - Revenue Recognition -
Note D - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 02, 2022 | Jul. 03, 2021 | Jul. 02, 2022 | Jul. 03, 2021 | |
Net sales | $ 126,875 | $ 118,666 | $ 369,319 | $ 322,015 |
Sales in percentage | 100% | 100% | 100% | 100% |
Delta Group [Member] | ||||
Net sales | $ 106,020 | $ 102,562 | $ 323,276 | $ 284,404 |
Salt Life Group [Member] | ||||
Net sales | 20,855 | 16,104 | 46,043 | 37,611 |
Retail [Member] | ||||
Net sales | $ 4,412 | $ 3,543 | $ 9,685 | $ 8,429 |
Sales in percentage | 3% | 3% | 3% | 3% |
Retail [Member] | Delta Group [Member] | ||||
Sales in percentage | 0.10% | 0.20% | 0.10% | 0.30% |
Retail [Member] | Salt Life Group [Member] | ||||
Sales in percentage | 20.80% | 20.60% | 20.30% | 20.60% |
Ecommerce [Member] | ||||
Net sales | $ 1,145 | $ 2,105 | $ 3,199 | $ 5,393 |
Sales in percentage | 1% | 2% | 1% | 2% |
Ecommerce [Member] | Delta Group [Member] | ||||
Sales in percentage | 0.40% | 0.30% | 0.30% | 0.30% |
Ecommerce [Member] | Salt Life Group [Member] | ||||
Sales in percentage | 3.40% | 11.10% | 5% | 12.10% |
Wholesale [Member] | ||||
Net sales | $ 121,318 | $ 113,018 | $ 356,435 | $ 308,193 |
Sales in percentage | 96% | 95% | 96% | 95% |
Wholesale [Member] | Delta Group [Member] | ||||
Sales in percentage | 99.50% | 99.50% | 99.60% | 99.40% |
Wholesale [Member] | Salt Life Group [Member] | ||||
Sales in percentage | 75.80% | 68.30% | 74.70% | 67.30% |
Note E - Inventories (Details T
Note E - Inventories (Details Textual) - USD ($) $ in Millions | Jul. 02, 2022 | Oct. 02, 2021 |
Inventory Valuation Reserves | $ 17.4 | $ 15.9 |
Note E - Inventories - Inventor
Note E - Inventories - Inventories (Details) - USD ($) $ in Thousands | Jul. 02, 2022 | Oct. 02, 2021 |
Raw materials | $ 23,660 | $ 17,204 |
Work in process | 23,005 | 20,954 |
Finished goods | 181,006 | 123,545 |
Inventory, Net, Total | $ 227,671 | $ 161,703 |
Note F - Debt (Details Textual)
Note F - Debt (Details Textual) $ in Thousands | 1 Months Ended | 6 Months Ended | 9 Months Ended | ||||||||
Jun. 02, 2022 | May 31, 2022 USD ($) | Dec. 31, 2020 USD ($) | Apr. 02, 2022 | Jul. 02, 2022 USD ($) | Jul. 03, 2021 USD ($) | Oct. 02, 2021 USD ($) | Aug. 28, 2020 USD ($) | Apr. 27, 2020 | Jan. 02, 2019 | Oct. 08, 2018 USD ($) | |
Repayments of Long-term Debt, Total | $ 383,919 | $ 346,131 | |||||||||
Promissory Note [Member] | |||||||||||
Debt Instrument, Face Amount | $ 7,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||||||||||
Term Loan Established December 2020 [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.50% | ||||||||||
Term Loan Established December 2020 [Member] | Banco Ficohsa [Member] | |||||||||||
Debt Instrument, Term (Year) | 5 years | ||||||||||
Repayments of Long-term Debt, Total | $ 1,100 | ||||||||||
Term Loan Established May 2022 [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.50% | ||||||||||
Term Loan Established May 2022 [Member] | Banco Ficohsa [Member] | |||||||||||
Debt Instrument, Term (Year) | 5 years | ||||||||||
Debt Instrument, Face Amount | $ 3,700 | ||||||||||
Revolving Credit Facility [Member] | Line of Credit [Member] | Banco Ficohsa [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | ||||||||||
Repayments of Long-term Debt, Total | $ 9,500 | ||||||||||
Amended Credit Agreement [Member] | Revolving Credit Facility [Member] | |||||||||||
SOFR Floor Rate | 0% | ||||||||||
Debt Instrument, Term (Year) | 5 years | ||||||||||
Debt Covenant Fixed Charge Coverage Ratio Term (Month) | 12 months | ||||||||||
Fixed Charge Coverage Ratio Requirement | 1 | 1.1 | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 170,000 | ||||||||||
Line Of Credit Facility Maximum Capacity For Capital Leases | 25,000 | ||||||||||
Line of Credit Facility Including Additional Borrowing Capacity Maximum | $ 200,000 | ||||||||||
Long-Term Line of Credit, Total | $ 122,800 | ||||||||||
Line of Credit Facility, Interest Rate During Period | 3.40% | ||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | 30,800 | ||||||||||
Retained Earnings Amount Available For Dividends And Stock Repurchases | $ 25,000 | ||||||||||
Amended Credit Agreement [Member] | Revolving Credit Facility [Member] | One Month SOFR [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.10% | ||||||||||
Amended Credit Agreement [Member] | Revolving Credit Facility [Member] | Three Month SOFR [Member] | |||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.15% | ||||||||||
Amended Credit Agreement [Member] | Letter of Credit [Member] | |||||||||||
Retained Earnings Amount Available For Dividends And Stock Repurchases | $ 19,000 |
Note F - Debt - Long-term Debt
Note F - Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Jul. 02, 2022 | Oct. 02, 2021 |
Long-term debt | $ 128,230 | $ 101,680 |
Line of Credit [Member] | Revolving Credit Facility [Member] | Banco Ficohsa [Member] | ||
Long-term debt | 2,000 | |
Term Loan Established December 2020 [Member] | ||
Long-term debt | 7,100 | |
Term Loan Established May 2022 [Member] | ||
Long-term debt | $ 3,656 |
Note F - Debt - Long-term Deb_2
Note F - Debt - Long-term Debt (Details) (Parentheticals) | Jul. 02, 2022 |
Line of Credit [Member] | Revolving Credit Facility [Member] | Banco Ficohsa [Member] | |
Long-term debt, interest rate | 7.25% |
Long-term debt, maturity date | Aug. 31, 2025 |
Term Loan Established December 2020 [Member] | |
Long-term debt, interest rate | 7.50% |
Long-term debt, maturity date | Dec. 31, 2025 |
Term Loan Established May 2022 [Member] | |
Long-term debt, interest rate | 7.50% |
Long-term debt, maturity date | May 31, 2027 |
Note G - Selling, General and_2
Note G - Selling, General and Administrative Expense (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jul. 02, 2022 | Jul. 03, 2021 | Jul. 02, 2022 | Jul. 03, 2021 | |
Production and Distribution Costs | $ 5.6 | $ 5.2 | $ 16.8 | $ 15.6 |
Note H - Stock-based Compensa_2
Note H - Stock-based Compensation (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Jul. 02, 2022 | Apr. 02, 2022 | Jan. 01, 2022 | Jul. 03, 2021 | Jul. 02, 2022 | Jul. 03, 2021 | |
Share-Based Payment Arrangement, Expense | $ 1.1 | $ 0.5 | $ 2.4 | $ 2 | ||
Share-Based Payment Arrangement, Expense, Tax Benefit | $ 0.2 | $ 0.1 | 0.4 | $ 0.5 | ||
Performance Shares [Member] | Upon Filing of Annual Report in 2021 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 47,700 | |||||
Performance Shares [Member] | Upon Filing of Annual Report in 2023 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | 59,625 | ||||
Performance Shares [Member] | Upon Filing of Annual Report in 2023, Paid in Stock [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,000 | |||||
Performance Shares [Member] | Upon Filing of Annual Report in 2023, Paid in Cash [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,000 | |||||
Performance Shares [Member] | Upon Filing of Annual Report in 2024 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | |||||
Performance Shares [Member] | Upon Filing of Annual Report in 2024, Paid in Stock [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,000 | |||||
Performance Shares [Member] | Upon Filing of Annual Report in 2024, Paid in Cash [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,000 | |||||
Restricted Stock Units (RSUs) [Member] | Upon Filing of Annual Report in 2021 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 95,000 | |||||
Restricted Stock Units (RSUs) [Member] | Upon Filing of Annual Report in 2022 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | 5,000 | ||||
Restricted Stock Units (RSUs) [Member] | Upon Filing of Annual Report in 2023 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | 42,000 | 59,625 | |||
Restricted Stock Units (RSUs) [Member] | Upon Filing of Annual Report in 2023, Paid in Stock [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,000 | 21,000 | ||||
Restricted Stock Units (RSUs) [Member] | Upon Filing of Annual Report in 2023, Paid in Cash [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,000 | 21,000 | ||||
Restricted Stock Units (RSUs) [Member] | Upon Filing of Annual Report in 2024 [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | 42,000 | 13,000 | |||
Restricted Stock Units (RSUs) [Member] | Upon Filing of Annual Report in 2024, Paid in Stock [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,000 | 21,000 | ||||
Restricted Stock Units (RSUs) [Member] | Upon Filing of Annual Report in 2024, Paid in Cash [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,000 | 21,000 | ||||
Restricted Stock Units and Performance Units [Member] | Upon Filing of Annual Report in 2021, Paid in Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 96,350 | |||||
Restricted Stock Units and Performance Units [Member] | Upon Filing of Annual Report in 2021, Paid in Cash [Member] | ||||||
Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Other than Options Vested in Period, Payable in Cash (in shares) | 46,350 | |||||
Restricted Stock Units and Performance Units [Member] | Upon Filing of Annual Report in 2023, Paid in Stock [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 64,625 | |||||
Restricted Stock Units and Performance Units [Member] | Upon Filing of Annual Report in 2023, Paid in Cash [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 54,625 | |||||
The 2020 Stock Plan [Member] | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 4.9 | $ 4.9 | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 4 months 24 days |
Note I - Purchase Contracts - M
Note I - Purchase Contracts - Minimum Payments Under Contracts (Details) $ in Thousands | Jul. 02, 2022 USD ($) |
Outstanding minimum payments | $ 49,159 |
Yarn [Member] | |
Outstanding minimum payments | 30,480 |
Finished Fabric [Member] | |
Outstanding minimum payments | 7,620 |
Finished Products [Member] | |
Outstanding minimum payments | $ 11,059 |
Note J - Business Segments (Det
Note J - Business Segments (Details Textual) $ in Millions | 9 Months Ended | 12 Months Ended |
Jul. 02, 2022 | Oct. 02, 2021 USD ($) | |
Number of Operating Segments | 2 | |
Other Nonrecurring Expense | $ 1.3 |
Note J - Business Segments - Sc
Note J - Business Segments - Schedule of Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jul. 02, 2022 | Jul. 03, 2021 | Jul. 02, 2022 | Jul. 03, 2021 | ||
Net sales | $ 126,875 | $ 118,666 | $ 369,319 | $ 322,015 | |
Segment operating income | 9,295 | 11,903 | 29,553 | 22,551 | |
Delta Group [Member] | |||||
Net sales | 106,020 | 102,562 | 323,276 | 284,404 | |
Salt Life Group [Member] | |||||
Net sales | 20,855 | 16,104 | 46,043 | 37,611 | |
Operating Segments [Member] | |||||
Net sales | 126,875 | 118,666 | 369,319 | 322,015 | |
Segment operating income | 14,275 | 16,785 | 40,594 | 33,120 | |
Operating Segments [Member] | Delta Group [Member] | |||||
Net sales | 106,020 | 102,562 | 323,276 | 284,404 | |
Segment operating income | [1] | 10,701 | 13,869 | 33,557 | 28,394 |
Operating Segments [Member] | Salt Life Group [Member] | |||||
Net sales | 20,855 | 16,104 | 46,043 | 37,611 | |
Segment operating income | $ 3,574 | $ 2,916 | $ 7,037 | $ 4,726 | |
[1]In fiscal 2021, the Delta Group operating earnings included $1.3 million of expense, reported within "Other loss (income), net", related to two catastrophic hurricanes that disrupted operations during the December 2020 quarter. |
Note J - Business Segments - Se
Note J - Business Segments - Segment Operating Income to the Consolidated Income Before Provision for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jul. 02, 2022 | Jul. 03, 2021 | Jul. 02, 2022 | Jul. 03, 2021 | |
Segment operating earnings | $ 9,295 | $ 11,903 | $ 29,553 | $ 22,551 |
Unallocated corporate expenses | 22,416 | 19,914 | 59,613 | 53,005 |
Unallocated interest expense | 1,971 | 1,735 | 5,370 | 5,225 |
Consolidated earnings before provision for income taxes | 7,324 | 10,168 | 24,183 | 17,326 |
Corporate, Non-Segment [Member] | ||||
Segment operating earnings | 14,275 | 16,785 | 40,594 | 33,120 |
Unallocated corporate expenses | 4,980 | 4,882 | 11,041 | 10,569 |
Unallocated interest expense | 1,971 | 1,735 | 5,370 | 5,225 |
Consolidated earnings before provision for income taxes | $ 7,324 | $ 10,168 | $ 24,183 | $ 17,326 |
Note K - Income Taxes (Details
Note K - Income Taxes (Details Textual) | 9 Months Ended | 12 Months Ended | |
Jul. 02, 2022 | Jul. 03, 2021 | Oct. 02, 2021 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 17.20% | 23.10% | 21.90% |
Note L - Derivatives and Fair_3
Note L - Derivatives and Fair Value Measurements (Details Textual) $ in Millions | 9 Months Ended |
Jul. 02, 2022 USD ($) | |
Business Combination, Contingent Consideration, Liability, Total | $ 0.6 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ (1.3) |
Note L - Derivatives and Fair_4
Note L - Derivatives and Fair Value Measurements - Outstanding Instruments (Details) - Interest Rate Swap Maturing July 25, 2023 [Member] $ in Millions | Jul. 02, 2022 USD ($) |
Notional amount | $ 20 |
Fixed LIBOR Rate | 3.18% |
Note L - Derivatives and Fair_5
Note L - Derivatives and Fair Value Measurements - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands | Jul. 02, 2022 | Oct. 02, 2021 |
Deferred Tax Assets [Member] | ||
Derivative assets (liabilities) | $ 1 | $ 266 |
Other Noncurrent Liabilities [Member] | ||
Derivative assets (liabilities) | (8) | (1,052) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Derivative assets (liabilities) | $ (7) | $ (786) |
Note L - Derivatives and Fair_6
Note L - Derivatives and Fair Value Measurements - Financial Assets (Liabilities) Measured at Fair Value (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Jul. 02, 2022 | Oct. 02, 2021 |
Interest Rate Swap [Member] | ||
Derivative Liabilities | $ (8) | $ (1,052) |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative Liabilities | 0 | 0 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative Liabilities | (8) | (1,052) |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative Liabilities | 0 | 0 |
Contingent Consideration [Member] | ||
Derivative Liabilities | (563) | (1,897) |
Contingent Consideration [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative Liabilities | 0 | 0 |
Contingent Consideration [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative Liabilities | 0 | 0 |
Contingent Consideration [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative Liabilities | $ (563) | $ (1,897) |
Note N - Repurchase of Common_2
Note N - Repurchase of Common Stock (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 33 Months Ended | ||||
Jul. 02, 2022 | Apr. 02, 2022 | Jan. 01, 2022 | Apr. 03, 2021 | Jul. 02, 2022 | Sep. 28, 2019 | |
Stock Repurchase Program, Authorized Amount | $ 60,000 | |||||
Treasury Stock, Shares, Acquired (in shares) | 33,934 | 3,735,114 | ||||
Treasury Stock, Value, Acquired, Cost Method | $ 968 | $ 846 | $ 2,143 | $ 0 | $ 56,400 | |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 3,600 | $ 3,600 |
Note O - Goodwill and Intangi_3
Note O - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Jun. 01, 2021 | Jul. 02, 2022 | Jul. 03, 2021 | Dec. 31, 2022 | Jul. 02, 2022 | Jul. 03, 2021 | Apr. 02, 2022 | Oct. 02, 2021 | |
Goodwill, Acquired During Period | $ 600 | |||||||
Goodwill, Ending Balance | $ 37,897 | 37,897 | $ 37,897 | |||||
Amortization of Intangible Assets | 600 | $ 500 | 1,800 | $ 1,200 | ||||
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year | $ 2,300 | |||||||
Finite-Lived Intangible Asset, Expected Amortization, Year One | 2,200 | |||||||
Finite-Lived Intangible Asset, Expected Amortization, Year Two | $ 2,200 | |||||||
Payments to Acquire Intangible Assets | $ 132 | $ 6,655 | ||||||
Technology-Based Intangible Assets [Member] | ||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | |||||||
DTG2Go, LLC [Member] | Fan Print Inc. Autoscale.ai Technology and Immaterial Net Working Capital [Member] | ||||||||
Asset Acquisition, Consideration Transferred, Total | $ 8,000 | |||||||
Payments to Acquire Intangible Assets | 6,600 | |||||||
DTG2Go, LLC [Member] | Fan Print Inc. Autoscale.ai Technology and Immaterial Net Working Capital [Member] | Technology-Based Intangible Assets [Member] | ||||||||
Finite-lived Intangible Assets, Fair Value Disclosure | $ 8,100 | |||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | |||||||
DTG2Go, LLC [Member] | Fan Print Inc. Autoscale.ai Technology and Immaterial Net Working Capital [Member] | Forecast [Member] | ||||||||
Payments to Acquire Intangible Assets | $ 1,400 | |||||||
Delta Group [Member] | ||||||||
Goodwill, Ending Balance | 18,000 | $ 18,000 | ||||||
Salt Life Group [Member] | ||||||||
Goodwill, Ending Balance | $ 19,900 | $ 19,900 |
Note O - Goodwill and Intangi_4
Note O - Goodwill and Intangible Assets - Goodwill and Components of Intangible Assets (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Jul. 02, 2022 | Oct. 02, 2021 | |
Goodwill, cost | $ 37,897 | $ 37,897 |
Goodwill | 37,897 | 37,897 |
Intangibles, Cost | 37,240 | 37,109 |
Intangibles, Accumulated Amortization | (12,613) | (10,818) |
Intangibles, Net Value | 24,627 | 26,291 |
Trademarks and Trade Names [Member] | ||
Intangibles, Cost | 16,000 | 16,000 |
Intangibles, Accumulated Amortization | (4,717) | (4,317) |
Intangibles, Net Value | $ 11,283 | 11,683 |
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 | 7,400 |
Intangibles, Accumulated Amortization | (3,028) | (2,473) |
Intangibles, Net Value | $ 4,372 | 4,927 |
Economic Life (Year) | 20 years | |
Technology-Based Intangible Assets [Member] | ||
Intangibles, Cost | $ 10,083 | 9,952 |
Intangibles, Accumulated Amortization | (2,385) | (1,715) |
Intangibles, Net Value | $ 7,698 | 8,237 |
Economic Life (Year) | 10 years | |
Licensing Agreements [Member] | ||
Intangibles, Cost | $ 2,100 | 2,100 |
Intangibles, Accumulated Amortization | (914) | (837) |
Intangibles, Net Value | $ 1,186 | 1,263 |
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 | 1,657 |
Intangibles, Accumulated Amortization | (1,569) | (1,476) |
Intangibles, Net Value | $ 88 | $ 181 |
Noncompete Agreements [Member] | Minimum [Member] | ||
Economic Life (Year) | 4 years | |
Noncompete Agreements [Member] | Maximum [Member] | ||
Economic Life (Year) | 8 years 6 months |