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Article: TEXTILE STOCKS WEAVING A NEW IMAGE ON WALL STREET: AFTER YEARS OF LAGGING, ANALYSTS SEE MILL SHARES MAKING A POSSIBLE COMEBACK.
- Article from:
- Daily News Record
- Article date:
- May 8, 1998
- Author:
CopyrightCOPYRIGHT 1998 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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NEW YORK -- Textile stocks have largely been ignored by the eight-year bull market, but many Wall Street analysts say this could be a comeback year for many issues.
That spells relief for mills, which have been getting squeezed by a tidal wave of cheaper Asian imports, rising raw material prices, particularly cotton, a generally tough apparel market and ongoing consolidations among textile players. Indeed, 1992 was the last time the textile group in Fairchild's stock index outperformed the Dow Jones Industrial Average.
However, Wall Street said many issues have recently rallied as a result of some sales improvement resulting from the NAFTA free-trade ...