Annual report pursuant to Section 13 and 15(d)

Inventories

v2.4.0.6
Inventories
12 Months Ended
Jun. 30, 2012
Inventory Disclosure [Abstract]  
Inventories
Inventories, net of reserves of $5.2 million and $3.7 million in fiscal years 2012 and 2011, respectively, consist of the following (in thousands):
 
June 30,
2012
 
July 2,
2011
Raw materials
$
11,759

 
$
20,970

Work in process
18,986

 
34,599

Finished goods
130,888

 
103,640

 
$
161,633

 
$
159,209


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. In fiscal year 2011, raw materials included $6.6 million of undecorated garments related to The Cotton Exchange. Upon the integration of The Cotton Exchange with Soffe in fiscal year 2012, these undecorated garments are being classified as finished goods. In fiscal year 2011, work in process included $9.6 million in products that were in-transit to our distribution centers. Beginning in fiscal year 2012, these products in-transit to our distribution centers are being classified as finished goods.