WestPoint Home Boosts Sales, Narrows Operating Loss
Staff Staff -- Home Textiles Today, September 2, 2010
NEW YORK - Better volume from existing accounts pushed sales ahead for WestPoint home during the recently concluded quarter.
"We're seeing demand slightly up," Dan Ninivaggi, president of WestPoint parent company Icahn Enterprises, said during the company's quarterly analyst call last week. Sales volume in the last several weeks "seems to be flattening out," he added.
Sales rose 24% to $107 million for the second quarter ended June 30. Operating loss narrowed to $10 million from $16 million in the year-ago period.
For the first half of the fiscal year, sales were up 12% to $190 million, while operating loss declined to $24 million from $34 million in last year's first six months.
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