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Article: Bobbin and weaving: mills fight to survive. (textile/apparel industry in North Carolina)(Industry Overview)
- Article from:
- Business North Carolina
- Article date:
- February 1, 1997
CopyrightCOPYRIGHT 1997 Business North Carolina. 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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Falling prices for cotton, wool and polyester helped some textile and apparel manufacturers rebound in 1996 after a year they'd like to write off. But some of the profit-draining conditions of 1995 didn't go away. Overseas producers are still eating into domestic market share, and fierce competition at retail outlets is keeping a lid on wholesale prices. "Profit margins are a little better, but they're still pretty lame," says Mark Vitner, an economist at Charlotte-based First Union Corp.
Still, he adds, "they should be better in 1997." Raw-material prices are coming back to earth. Clothing sales started improving in late 1996, and mortgage rates dipped, creating a ...