Quarterly report pursuant to Section 13 or 15(d)

Inventories

Inventories

3 Months Ended

Dec. 28, 2013

Inventories, net of reserves of $6.6 million as of December 28, 2013, and $6.9 million as of September 28, 2013, consist of the following (in thousands):



	December 28, 2013		September 28, 2013
Raw materials	$	10,993	$	11,917
Work in process	14,429		15,121
Finished goods	148,776		138,152
	$	174,198	$	165,190

Raw materials include finished yarn and direct materials for the basics segment and include direct embellishment materials and undecorated garments and headwear for the branded segment. We regularly review inventory quantities on hand and record reserves for obsolescence, excess quantities, irregulars and slow-moving inventory based on historical selling prices, current market conditions, and forecasted product demand, to reduce inventory to its net realizable value.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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