Cone records 1Q profit despite slowing sales
April 24, 2002,
Greensboro, NC — Climbing back on track and returning to profitability on the strength of operational improvements — and gaining despite continued top-line erosion — Cone Mills Corp. recorded a first-quarter profit of $1.4 million, compared with a year-before loss of $2.9 million.
But sales at the diversified textiles company continued to weaken, falling by 20.2 percent, to $105.8 million form $132.7 million last year, hard hit by weakness in its core denim business and persistent softness in its home fashions business.
Related Content By Author
The Countdown to the ICON Honors
Home & Textiles Today eDaily