Quarterly report pursuant to Section 13 or 15(d)

New Accounting Standards (Tables)

v3.19.1
New Accounting Standards (Tables)
6 Months Ended
Mar. 30, 2019
Accounting Changes and Error Corrections [Abstract]  
Disaggregation of revenue
The table below identifies the amount of net sales by distribution channel and percentage of net sales (in thousands):
 
Three Months Ended
 
March 30, 2019
 
March 31, 2018
 
$
%
 
$
%
Retail
$
872

1
%
 
$
733

1
%
Direct-to-consumer ecommerce
981

1
%
 
1,060

1
%
Wholesale
100,985

98
%
 
98,211

98
%
Net Sales
$
102,838

100
%
 
$
100,004

100
%
 
Six Months Ended
 
March 30, 2019
 
March 31, 2018
 
$
%
 
$
%
Retail
$
1,884

1
%
 
$
1,616

1
%
Direct-to-consumer ecommerce
2,569

1
%
 
2,451

1
%
Wholesale
200,060

98
%
 
186,279

98
%
Net Sales
$
204,513

100
%
 
$
190,346

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:
 
Second Quarter Fiscal Year 2019
 
Net Sales
Wholesale
Retail
Ecommerce
Delta Group
$
89,526

99.4
%
0.3
%
0.3
%
Salt Life Group
13,312

90.2
%
4.4
%
5.4
%
Total
$
102,838

 
 
 
 
 
 
 
 
 
Second Quarter Fiscal Year 2018
 
Net Sales
Wholesale
Retail
Ecommerce
Delta Group
$
86,125

99.4
%
0.3
%
0.3
%
Salt Life Group
13,879

90.7
%
3.5
%
5.8
%
Total
$
100,004

 
 
 
 
Year To Date Fiscal Year 2019
 
Net Sales
Wholesale
Retail
Ecommerce
Delta Group
$
183,916

99.4
%
0.3
%
0.3
%
Salt Life Group
20,597

84.3
%
6.2
%
9.5
%
Total
$
204,513

 
 
 
 
 
 
 
 
 
Year To Date Fiscal Year 2018
 
Net Sales
Wholesale
Retail
Ecommerce
Delta Group
$
170,051

99.3
%
0.4
%
0.3
%
Salt Life Group
20,295

85.5
%
5.1
%
9.4
%
Total
$
190,346

 
 
 
Schedule of the effect of the adoption of the standard
See the table below for the effect of the adoption of the standard on our Condensed Consolidated Balance Sheets as of March 30, 2019, (in thousands), due to the change in recording provisions for customer refunds as a liability instead of netted against trade accounts receivable.
 
As Reported March 30, 2019
 
Effect of standard
 
Balances without Adoption
Accounts receivable, net
$
59,197

 
$
(847
)
 
$
58,350

Prepaid expenses and other current assets
3,002

 
(101
)
 
2,901

Total Current Assets
251,251

 
(948
)
 
250,303

Total assets
379,055

 
(948
)
 
378,107

Accrued liabilities
15,439

 
(1,093
)
 
14,346

Total current liabilities
89,790

 
(1,093
)
 
88,697

Total liabilities
233,388

 
(1,093
)
 
232,295

Total liabilities and equity
$
379,055

 
$
(1,093
)
 
$
377,962