Quarterly report pursuant to Section 13 or 15(d)

Note D - Revenue Recognition

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Note D - Revenue Recognition
 6 Months Ended
Mar. 28, 2020
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]
 
Note D—Revenue Recognition
 
We only recognize revenue to the extent that it is probable that we will
not
recognize a significant reversal of revenue when the uncertainties related to the variability are ultimately resolved. In determining our estimates for discounts, allowances, chargebacks, and returns, we consider historical and current trends, agreements with our customers and retailer performance. We record these discounts, returns and allowances as a reduction to net sales in our Condensed Consolidated Statements of Operations and as a refund liability in our accrued expenses in our Condensed Consolidated Balance Sheets, with the estimated value of inventory expected to be returned in prepaid and other current assets in our Condensed Consolidated Balance Sheets. As of 
March 28, 2020,
and
September 28, 2019,
there was
$1.0
million in refund liabilities for customer returns, allowances, markdowns and discounts within accrued expenses.
 
Our revenue streams consist of retail stores, direct-to-consumer ecommerce, and wholesale channels which are included in our Condensed Consolidated Statements of Operations. The table below identifies the amount and percentage of net sales by revenue stream (in thousands):
 
   
Three Months Ended
  
   
March 28, 2020
    
March 30, 2019
  
   
$
    
%
    
$
    
%
  
Retail
   $
962
      
1
%
   $
872
      
1
%
Direct-to-consumer ecommerce
    
1,084
      
1
%
    
1,019
      
1
%
Wholesale
    
94,614
      
98
%
    
100,947
      
98
%
Net Sales
   $
96,660
      
100
%
   $
102,838
      
100
%
 
   
Six Months Ended
   
March 28, 2020
  
March 30, 2019
   
$
    
%
    
$
    
%
  
Retail
   $
2,195
  
1
 %   $
1,884
  
1
 %
Direct-to-consumer ecommerce
  
2,767
  
1
 %  
2,601
  
1
 %
Wholesale
  
187,588
  
98
 %  
200,028
  
98
 %
Net sales
   $
192,550
  
100
 %   $
204,513
  
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 2020
   
Net Sales
  
Retail
  
ecommerce
  
Wholesale
Delta Group
   $
84,191
  
0.2
 %  
0.2
 %  
99.6
 %
Salt Life Group
  
12,469
  
6.4
 %  
7.1
 %  
86.5
 %
Total
   $
96,660
    
 
      
 
      
 
  
 
   
Second Quarter Fiscal Year 2019
   
Net Sales
  
Retail
  
ecommerce
  
Wholesale
Delta Group
   $
89,526
  
0.3
 %  
0.3
 %  
99.4
 %
Salt Life Group
  
13,312
  
4.4
 %  
5.7
 %  
89.9
 %
Total
   $
102,838
    
 
      
 
      
 
  
 
   
Year To Date Fiscal Year 2020
   
Net Sales
  
Retail
  
ecommerce
  
Wholesale
Delta Group
   $
173,143
  
0.3
 %  
0.3
 %  
99.4
 %
Salt Life Group
  
19,407
  
8.9
 %  
11.9
 %  
79.2
 %
Total
   $
192,550
    
 
      
 
      
 
  
 
   
Year To Date Fiscal Year 2019
   
Net Sales
  
Retail
  
ecommerce
  
Wholesale
Delta Group
   $
183,916
  
0.3
 %  
0.3
 %  
99.4
 %
Salt Life Group
  
20,597
  
6.1
 %  
9.7
 %  
84.2
 %
Total
   $
204,513