Home    Resource Store    Past Issues    Buyers' Guide    Career Center    Subscriptions    Advertising    E-Newsletter    Contact

Textile World Photo Galleries
November/December 2015 November/December 2015

View Issue  |

Subscribe Now  |


From Farm To Fabric: The Many Faces Of Cotton - The 74th Plenary Meeting of the International Cotton Advisory Committee (ICAC)
12/06/2015 - 12/11/2015

Capstone Course On Nonwoven Product Development
12/07/2015 - 12/11/2015

2nd Morocco International Home Textiles & Homewares Fair
03/16/2016 - 03/19/2016

- more events -

- submit your event -

Printer Friendly
Full Site
Textile News

Cone Shows Lower Earnings Announces Restructuring

Cone Mills Corp., Greensboro, N.C., announced that fourth quarter 1998 results will be lower than analysts expectations as a result of reduced shipments of denim and yarn-dyed sportswear fabrics and costs associated with a restructuring program.Slower than planned shipments were the result of weaker retail sales associated with unseasonably warm weather and shifts from basic to fashion-styled jeans, the company said.John L. Bakane, president and CEO, also announced a comprehensive restructuring program to accelerate the earnings recovery of the company. Elements of the program include: streamlining the product offering of the companys sportswear division, including the closing of the Salisbury plant, which produces yarn-dyed shirting fabrics; reorganizing and downsizing the corporate administrative staff with a mid-first-quarter 1999 target implementation date; and reorganizing the apparel products group sales and administrative organizations in order to reduce costs and more effectively service the changing global marketplace.

February 1999