Cone Mills improves 3Q earnings

Greensboro, NC — Despite weakened sales in its home furnishings segments, Cone Mills Corp. reported net sales of $111.7 million and a net income of $3.8 million, or $0.11 per share, after preferred dividends for the three-month period ending Sept. 29, a significant improvement over last year's third quarter.

For the corresponding quarter of fiscal 2001, Cone reported net sales of $107 million and a net loss of $4.6 million, or $0.22 per share, after preferred dividends.

Overall sales were up 4.4 percent for the third quarter of 2002, as compared with the third quarter of 2001. The increase in sales for the quarter was driven by the denim segment, as Cone's home furnishings segments, Carlisle Finishing and Cone Jacqaurds, experienced sharply weaker market conditions.

Third quarter 2002 sales for the decorative fabrics segment were $5.7 million, down 47.3 percent from the same quarter for 2001.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!