Delta Apparel sags, expects to clock loss in Q3
Shares of Delta Apparel, Inc. (AMEX:DLA) are plummeting this morning after the marketer of activewear apparel after Thursday’s close lowered its fiscal third-quarter guidance below the consensus on Wall Street and said that it expects to clock a loss in the quarter due to restructuring charges associated with the company’s textile reconstruction plan as well as its inability to achieve previously forecasted sales targets due to languishing consumer demand for apparel. High energy, transportation and raw material costs also contributed.
Shares swooned 18%, or $1.26, to $5.75 at 10:31 a.m. ET. For detailed price information and recent news stories about Delta Apparel, click DLA.
