follow us

WPS: good news and bad

WestPoint Stevens Inc. said late Friday that its stock will be delisted from the New York Stock Exchange on Jan. 30 — then said sales and operating profits for the fourth quarter of 2002 came in higher than expected.

With its stock trading at less than $1.00 per share, WestPoint was threatened with delisting six months ago, After Jan. 30, its shares will trade on the OTC Bulletin Board.

In good news, the mill said fourth-quarter sales grew by roughly eight percent, rebounding from a third-quarter shortfall caused by Kmart store closings. Operating profits are now expected at $55 to $57 million, up from an earlier forecast of $50 to $55 million.

Featured Video

  • Online Moves From Afterthought To Main Thought For Textiles Suppliers

    Camera Icon More Videos

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today