Delta Report

In: Business and Management

Submitted By cxxtvxq
Words 1070
Pages 5
Delta Apparel Inc. (DLA)

Corporate Overview
Delta Apparel, Inc., through its subsidiaries, operates as an international design, marketing, manufacturing, and sourcing company that features a portfolio of branded and private label activewear apparel and headwear. The company primarily offers casual and athletic products for men, women, juniors, youth, and children under the Soffe, The Cotton Exchange, Intensity Athletics, Junk Food, and The Game brand names. It also markets apparel garments for the entire family under Delta Pro Weight, Delta Magnum Weight, Quail Hollow, Healthknit, and FunTees brand names. In addition, the company engages in designing, marketing, and manufacturing private label custom knit t-shirts primarily to branded sportswear companies. It sells its products to specialty and boutique shops, upscale and traditional department stores, mid-tier retailers, sporting goods stores, screen printers, private label accounts, college bookstores, and the United States military. The company also sells its products directly to consumers on its Web sites at,,, and It has operations primarily in the United States, Honduras, El Salvador, and Mexico. Delta Apparel, Inc. was founded in 1999 and is headquartered in Greenville, South Carolina.

Discounted Cash Flow Valuation
I use the FCFF model to evaluate Delta’s price. The three-stage model assumes that the firm will have an impressive growth first, and then has a more moderate growth rate during the second period. The third stage is the growth to infinity.

Based on historical data, sales growth rates in 2010 and 2011 are 19.5% and 12.0%, respectively, and combined with the analysts’ estimates, I decided to project the sales growth rate for 2012 and 2013 to be 10%. From 2014 to 2016, as the market becomes more saturated, I use a slightly lower…...

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... Delta Airlines Cynthia Howard-Morgan BUS499 Professor Anderson July 29, 2012 Introduction The longest-running airline carrier, Delta Airlines began in 1924 as a crop-dusting company called Huff Deland Dusters. Delta has since become a world leader in providing efficient, on-time travel, since 1941, the company has been based in Atlanta, where Hartsfield-Jackson International Airport serves as its largest domestic hub and primary base for flights to over 57 countries. The airline also operates four other hubs in major U.S. notably Los Angeles which it has recently reestablished (Delta, 2011). Due to competition from lost-cost airlines, the negative effects of 911 on travel and skyrocketing fuel prices, the company held over $20 billion in debt as of September 2005 Delta declared bankruptcy. Delta was able to emerge from bankruptcy in 2007, achieving profitability that same year. In April, 2008, Delta announced its intention to purchase Northwest Airlines. The two companies combined created the world’s largest airline. Currently it is the only airline to service all six permanently inhabited continents in the world. The company's structure and management approach have constantly evolved in order to maintain competitive in the cutthroat airline industry (Delta, 2011). Delta vision will able them continue to be the world’s largest and the world’s greatest airline. Segments of General Environment Segments that rank the highest would be suppliers and...

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Delta Analysis

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Improving Delta

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Delta Airlines

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Delta Airlines

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Delta 2010 Annual Report

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St of Delta

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Depreciation at Delta

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Delta which we first start delta leaning (E/RE-0.25) and the price at which we would be working stock first, we can draw the following stock line: , where: P_n = stock price x_n = number of contracts jumper is willing to do at P_n P_StockFirst = price at which we would work an opportunity stock first P_FirstContract = price at which jumper would do its first contract (x = 1) P_DeltaLean = price at which we first start delta leaning Logic: When the opportunity size (Opp_Size) gets smaller, we should check if it is greater than the delta position we have on in contracts (z = ∆_actual/∆_option ) multiplied by our tolerance (n). If the condition is met, we will reference the stock price, the number of contracts we are willing to take at that price, and take off our deltas up to that contract number. For example, if the opportunity size is 100, the delta risk we have on in contracts is 51, and our tolerance is 2, if the stock is at〖 P〗_4, we will take off up to x_4 contracts since 51*2 > 100. If we do end up taking x_4 contracts and the price improves to〖 P〗_5 and z*n>Opp_size, we will take off x_5-x_4 contracts. Thus, as long as the opportunity is in the gap feed, we will keep the number of contracts that we take at each subsequent price level in memory and only be allowed to take up to x contracts if z*n > Opp_Size. If at any point the stock crosses our stock first price (P_StockFirst), we will hedge our deltas to zero by taking z ......

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Delta Airlines

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