USA: Textiles Producer Galey & Lord Widens Fourth-Quarter Loss
Weak apparel sales and cheap imports saw textiles manufacturer Galey & Lord Inc post a wider fourth-quarter loss from last year and force it to issue a warning that it does not see an end to its business downturn in the current quarter. The Greensboro, North Carolina-based firm reported a fourth-quarter net loss of $71.3 million, or $5.94 per common share, compared with a net loss of $40.1m, or $3.35 per common share, in the year-earlier quarter.
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