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Article: FIELDCREST CANNON EXPECTS LOWER EARNINGS
- Article from:
- PR Newswire
- Article date:
- June 6, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. 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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EDEN, N.C., June 6 /PRNewswire/ -- Fieldcrest Cannon (NYSE: FLD) announced that lower than anticipated sales during April and May of this year and delays in implementation of certain price increases are expected to adversely impact second quarter 1995 earnings. The Company anticipates earnings for the quarter to be substantially below the $.64 per common share reported for the second quarter of 1994, possibly at a break-even level.
The impact of lower than expected sales volumes and related reduced mill activity have compounded the effect of cost increases in cotton and other raw materials. Also, certain of the price increases implemented to recover the higher ...
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