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Article: Salant posts wider loss in 1st quarter as sales drop 19.3%. (Salant Corp., clothing trade)
- Article from:
- WWD
- Article date:
- May 20, 1991
CopyrightCOPYRIGHT 1991 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SALANT POSTS WIDER LOSS IN 1ST QUARTER AS SALES DROP 19.3%
NEW YORK (FNS) -- Salant Corp., which is reorganizing in Chapter 11 proceedings, said it lost $3,259,000 in the first quarter ended March 30.
Salant had a $2.31 million loss in the same quarter last year.
Sales declined 19.3 percent to $82,302,000 from $101,931,000.
The company said the decrease in sales reflected discontinuation of some operations that were active last year. Results included Denton Mills, a subsidiary, which filed a Chapter 11 petition with the parent company on June 27, 1990.
Salant said the loss reflected lower gross margins caused by reduced prices ...
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