Fruit of the Loom

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CANADA: High Cotton Prices Unstitch Gildan's Profit | 7 Feb 02

Higher cotton costs and weaker market demand ate into first-quarter profit at Fruit of the Loom rival Gildan Activewear Inc.

The Montreal-based clothing maker said it earned C$2.8 million ($1.8 million), or 10 Canadian cents a share, in the quarter ended 30 December, down from C$7.7 million, or 26 Canadian cents a share, in the year-earlier period.

BELGIUM: EU Clears $840m Fruit Of The Loom Purchase | 25 Jan 02

The European Union Commission yesterday cleared Berkshire Hathaway Inc's $840 million purchase of Fruit Of The Loom Ltd, the US clothing and underwear manufacturer. The deal was approved because no objections had been raised by third parties during the one-month qualifying period.

USA: Sara Lee Axes Another 1,000 Jobs Amid Earnings Fall | 20 Nov 01

Consumer goods giant Sara Lee Corp has confirmed it is to axe a further 1,000 jobs, raising the number of staff being made redundant to 14,263 - nine per cent of it's workforce. Most of the new cuts will be made in the company's intimates and underwear business, where sales have declined under pressure from discount pricing by competitors such as Fruit of the Loom.

REPUBLIC OF IRELAND: Fruit Of The Loom Axes 65 Jobs | 19 Nov 01

Troubled clothing maker Fruit of the Loom has announced plans to consolidate operations in the Republic of Ireland at its Ballymacarry plant in Buncrana with the loss of 65 jobs. The company said the move was the first step in an investment programme that would allow it to bring in a 24-hour, seven-day-week working across its textile operations.

USA: Fruit Of The Loom Close To Finding Buyer | 10 Sep 01

Fruit of the Loom Ltd, the 130-year-old Chicago-based apparel group that filed for bankruptcy protection in late 1999, is thought to be close to finding a buyer. A story filed by The Deal LLC says that creditors controlling the company chose a buyer late last week. The article says that although the buyer has not been named, "some observers speculated that Berkshire Hathaway Inc filed a late bid that bested three competing proposals that were likely not better than $750 million each. A spokeswoman for Omaha-based Berkshire declined to comment."

USA: Renfro Speeds Up Retail Data Analysis | 8 Aug 01

Renfro Corporation, which markets and manufactures socks, including the Fruit of the Loom, Starter, and Gitano brands among others, has licensed DataAlchemy, Bristol Technology's software application, to enable it to integrate data from multiple sources. The investment will help Renfro fortify its position as 'Category Captain' with one of the United States' largest retailers, and automate its store level and store-clustering detail - a process that had previously been performed manually.

CANADA: Gildan Bids For Fruit Of The Loom | 6 Aug 01

T-shirt company Gildan Activewear Inc was reported to have teamed up with US holding company Texas Pacific Group Inc to bid for Fruit of the Loom Ltd, the 130-year-old Chicago-based apparel group in bankruptcy protection since late 1999, the Financial Post reported. But Laurence Sellyn, Gildan's chief financial officer, refused to comment on the report. In June, analysts said it would be logical for Gildan to bid, since success would eliminate a big competitor.

USA: Zellweger Supplies Machinery For Renovated Mill | 3 Aug 01

Zellweger Uster, Inc is to join forces with Fruit of the Loom in the renovation of Leesburg Yarn Mills in Leesburg, Alabama. Uster quality systems will measure and control the quality at spinning and drawing, which will be complemented by the extensive Uster yarn-testing laboratory. The Uster Quantum Yarn Clearers will be installed on all Rieter R20 open end spinning machines making this the largest single installation of its type in the world. In addition, Uster SliverGuard will be installed at the drawing process to assure consistent quality sliver will be available for spinning.

USA: Fruit Of The Loom Resolves Gildan Lawsuit | 18 Jul 01

Fruit of the Loom has called off legal proceedings against Gildan Activewear. In April, it accused rival t-shirt manufacturer Gildan Activewear of industrial espionage saying Gildan stole the company's operating plans and lured away some of its top executives. A US district court judge in Illinois had issued an order for a return of the documents and that Gildan not use or disclose any information contained in them, including sales strategies, customer information, product development plans and pricing strategies.

USA: Perry Ellis Licenses Retroactive For Pro Player Brand | 30 May 01

Perry Ellis International has signed a multi-year licensing agreement with Retroactive Apparel LLC for the design, merchandising, sales and distribution of Pro Player apparel and footwear. The Pro Player trademark and its sub-brands were acquired from Fruit of the Loom, and are the latest additions to the table of brands held by Perry Ellis International.

USA: Mediator Appointed For Fruit Of The Loom | 11 May 01

James White, a professor at the University of Michigan law school, has been appointed as a mediator in the furore over US giant, Fruit of the Loom.   An unsecured creditors' committee has won the right to call for an independent examiner and to stop the firm's reorganisation plan proceedings.

IRELAND: Fruit Of The Loom Plant Closures Rumoured | 9 May 01

Employees working for US giant Fruit of the Loom at its two factories in Londonderry and Donegal fear their jobs could be on the line.   Speculation is rife that management is planning to close down the plants at Campsie, on the outskirts of Londonderry, and Buncrana in Donegal.  

USA: Gildan Agrees To Extension In Fruit Of The Loom Action | 23 Apr 01

Gildan Activewear Inc has consented to a preliminary injunction in the lawsuit filed against it by Fruit of the Loom. The preliminary injunction, agreed by lawyers for the two corporations, incorporates the same conditions as the temporary restraining order previously entered by the court on April 5, 2001.

CANADA: Gildan Fights Fruit of the Loom Lawsuit | 12 Apr 01

Gildan Activewear, a Montreal-based maker of sportswear, announced today that, having had the opportunity to review the lawsuit brought against it by Fruit of the Loom, it will defend the lawsuit vigorously and expects to be vindicated. Gildan Activewear also said that it does not anticipate the lawsuit will have a material adverse effect on the company's business or its financial condition.

USA: Fruit Of The Loom Sues Gildan Over Industrial Espionage | 9 Apr 01

Fruit of the Loom Inc is to sue rival t-shirt manufacturer Gildan Activewear over allegations of industrial espionage. Fruit of the Loom filed suit in the US court on allegations that Gildan Activewear stole the company's operating plans and lured away some of its top executives. "This case is about industrial espionage at the highest corporate level and the lengths to which predatory competitors will go to obtain commercial advantage," Fruit of the Loom said in its filing.

USA: Gildan Activewear Confirms Lawsuit | 6 Apr 01

Gildan Activewear Inc has confirmed that Fruit of the Loom Inc has filed a lawsuit alleging possession and use of confidential information by former Fruit of the Loom employees now in the employ of Gildan. At the request of Fruit of the Loom, and in the absence of any representatives from Gildan Activewear or its attorneys, a judge of the District Court for the Northern District of Illinois, Eastern Division, issued a temporary order restricting the improper use of any such information to remain in effect until April 23, 2001.

Quickwash tackles testing times | 21 Mar 01

US-based Raitech has come up with a product that promises to reduce costs, increase speed to market and cancel out expensive consumer returns and chargebacks. Sounds too good to be true? Clients like Gap, M&S and Levi Strauss don't think so.

IT investment slows down | 2 Mar 01

A cutback in spending - particularly on investments such as information technology - is a natural accompaniment to economic slowdown. Apparel and retail companies are no exception, and the changes that have taken place in this sector over recent months are now showing up in reduced computer and software purchases. By Bob Shallow, MBA.

USA: Fruit of the Loom Signs Up With IBSS | 18 Dec 00

Integrated Business Systems & Services, Inc (Nasdaq-NM: IBSS - news) has announced a deal with Fruit of the Loom to provide software for data collection at the clothing manufacturers various locations. Harry Langley, president and CEO of IBSS, said: "IBSS continues to receive acceptance of its Synapse technology in the market place. Being selected by Fruit of the Loom further demonstrates the enormous acceptance of Synapse among major corporations."

USA: Fruit Of The Loom Closing Plant; 793 Lose Jobs | 21 Nov 00

A Fruit of the Loom textile plant employing 793 people will close in mid-January as part of a company restructuring under a bankruptcy filing. The Arkansas-based plant, which makes and dyes fabric for underwear, shirts, and pants, had been operated by Fruit of the Loom since 1987. Plant managers had thought it would survive the company's cutbacks. Instead, the plant will close January 15.

USA: Fruit of the Loom Reports Improved Results | 1 Nov 00

Fruit of the Loom, marketer and manufacturer of basic family apparel, today reported operating results for its third quarter. Dennis Bookshester, CEO said: "We have made significant progress in restructuring the operations of the company that will permit us to emerge from bankruptcy. Our third quarter financial results reflect the operational and cost improvements in the first nine months of 2000 versus 1999."The company reported sales of $396.4m for its third quarter ended September 30, 2000 compared to $480.5m for the third quarter of 1999. Lower sales volume was primarily due to the elimination of non-core businesses (including the company's Gitano jeanswear division) and low volume/unprofitable products, along with a weaker back-to-school selling season and an extremely competitive activewear market. The net loss for the third quarter of 2000 was $16.2m ($.24 per share) compared to a net loss of $166.4m ($2.49 per share) for the third quarter of 1999.For the nine months ended September 30, 2000, the company reported sales of $1,217.3m compared to $1,368.8m for the corresponding period in 1999. As was the case in the third quarter, lower sales volume was primarily due to the elimination of non-core businesses (including the company's Gitano jeanswear division) and low volume/unprofitable products, along with a weaker back-to-school selling season and an extremely competitive Activewear market. The net loss for the nine months ended September 30, 2000 was $153.9m ($2.30 per share) compared to a net loss of $177.7m ($2.61 per share) for the corresponding period in 1999.

GERMANY: Gerber Launches Web-Based PD Tool Jane Mallin | 24 Oct 00

Leading integrated computer hardware and software provider Gerber Technology announced last week the launch of a new e-business solution. The company has invested $20m in WebPDM spec and WebPDM B2B, which are based on the existing WebPDM v3.8, and will continue to provide a further $5m a year, said Marc Jaspers, managing director Europe at Gerber Technology's Information System Division. The new products have been designed to manage the time-consuming and costly product development process for the apparel industry.Gerber said that 27 companies, which were based in Europe, the USA, and Asia, and were split equally between the manufacturing and retail sectors, were quizzed on their product development needs. The companies' responses dictated the development of the final versions of the WebPDM products.Product development, a process that has been managed in the electronic, automotive, and pharmaceutical industries for some years, is still not managed by the apparel industry, Jaspers claimed. Speaking at a press conference held in Germany last week, he added that it was time the apparel sector caught up with other businesses: "Product development is still considered an art, but - although creativity is important - this is a business procedure like all the others in the company."At the moment, anywhere from four to eight departments get involved in product development: collection designers, marketing, the costing estimation department, quality, buyers, raw materials, sample makers, sales staff, the e-commerce division and all the offshore manufacturers that produce the garments. Although all those departments are necessary to develop the style, often nobody in the whole organisation is managing the process."

USA: Warnaco In Trouble As Shareholders File Class Action Company Press Release | 23 Aug 00

On August 22, 2000 a Class Action was filed in the US District Court for the Southern District of New York on behalf of all persons and entities who purchased Warnaco Group, Inc (NYSE: WAC) common stock during the period from December 11, 1997 through July 20, 2000 (the "Class Period "), by attorneys Laurence D. Paskowitz, Esq. and Roy L. Jacobs, Esq. Counsel have many years of successful experience in litigating class actions. The lawsuit alleges that during the Class Period, Warnaco and two of its top officers and directors issued materially false and misleading statements regarding Warnaco's earnings, prospects and business practices. In particular, the suit alleges that Warnaco inflated sales through knowing violations of a jeanswear distribution license obtained from Calvin Klein, Inc and the Calvin Klein Trademark Trust ("Klein"). On May 30, 2000, Klein sued Warnaco over these alleged violations. The suit also asserts that Warnaco stock was inflated during the Class Period by misleading earnings forecasts, and that all of the alleged misconduct was motivated by the defendants' interest in profiting from salary, bonuses and stock sales. The complaint further alleges that, during the Class Period, Warnaco and certain of its officers and directors, violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by the issuance of the materially false public statements described above. Plaintiff seeks to recover damages on behalf of the Class and is represented by Laurence D. Paskowitz, Esq. and Roy Jacobs, Esq., attorneys with many years of experience in prosecuting investor class actions. Please contact the undersigned if you have any questions about this Notice, the action, or your rights. You may also learn more about class actions in general by visiting

USA: Troubled Fruit of the Loom Reports Improved Results Company Press Release | 21 Aug 00

Fruit of the Loom, Ltd (OTC Bulletin Board: FTLAQ), one of the world's leading marketers and manufacturers of basic family apparel, today reported operating results for its second quarter. Dennis Bookshester, CEO said: "We have made significant progress in restructuring the operations of the company in our effort to emerge from bankruptcy.

USA: Ambassador Sorini Joins TextilEdge Board Jane Mallin | 2 Aug 00

TextilEdge, Inc the e-commerce marketplace for sourcing and procurement in the global apparel and textile industries, today announced the appointment of Ambassador Ron Sorini to its board.Ambassador Sorini has been active in international trade for almost 20 years. In 1989, he was appointed by President Bush and confirmed by the US Senate as Ambassador and Chief Textile Negotiator. Serving in this capacity until 1993, he was the principal negotiator on textile and apparel matters for NAFTA, the GATT/WTO agreement and bilateral agreements with over forty nations. Ambassador Sorini has previously served as senior vice president for international development and government relations at Fruit of the Loom, Inc. He currently serves as senior vice president of Sandler, Travis & Rosenberg LLC, a law firm specializing in global trade issues, particularly in the textile and apparel industry."Ron's wealth of knowledge, experience and contacts within the textile and apparel industry make him an invaluable addition to the TextilEdge board of directors," said William Harris, CEO of TextilEdge. "Ron's thorough understanding of the domestic and global issues for apparel and textiles will be a tremendous benefit to TextilEdge and the industry as a whole as we continue to drive its shift to e-commerce.""I see this as a great opportunity to help the apparel and textile industries make some dramatic changes and improvements," said Ambassador Sorini.

USA: Worldtex Currently Below NYSE Continued Listing Standards Company Press Release | 21 Jul 00

Worldtex, Inc (NYSE: WTX) announced today that it has been notified by the New York Stock Exchange ("NYSE") that it does not currently meet the newly effective NYSE continued listing standards. These standards require, among other things, that listed companies have a total market capitalization of not less than $50 million and total stockholders' equity of not less than $50 million.As required by the NYSE, Worldtex, Inc has presented a plan to the NYSE's Listings and Compliance Committee outlining how the company plans to comply with the continued listing standards. After reviewing the plan, the Committee will either accept it (following which the Company will be subject to quarterly monitoring for compliance with the plan), or not (in which event the Company will be subject to NYSE trading suspension and delisting.Worldtex has been adversely affected by a decline in demand for ladies hosiery that utilizes covered elastic yarn, softness in the European textile market and strengthening of the US dollar, a sales shift toward lower margin narrow elastic fabrics and the bankruptcy filing of its largest customer, Fruit of the Loom. However, Barry D. Setzer, chairman and chief executive officer, said: "Our experienced management team is working diligently to improve Worldtex's financial results, notwithstanding these challenging times for the textile industry. Worldtex is proud to have been listed on the New York Stock Exchange since 1992, and we are optimistic that the Exchange will continue our listing."With current annual revenues of nearly $300 million, Worldtex is a market leader in the covered elastic yarn and narrow elastic fabric markets throughout the Americas and Europe. Worldtex supplies a broad range of component products to the apparel, textile, medical and specialty end-use markets.

USA: Perry Ellis Acquires Pro-Player Brand From Fruit Of The Loom Company Press Release | 6 Jul 00

The Supreme International division of Perry Ellis International, Inc (NASDAQ:PERY) announced today that is has acquired the Pro-Player intellectual property from Fruit of the Loom which includes the following trademarks: Pro-Player, Artex, Fun Gear and Salem Sportswear. Oscar Feldenkreis, President and COO, stated: "Pro-Player has a great history and is a well-known brand in the sports apparel business with distribution in department stores and middle market retailers.

USA: VF To Acquire Gitano Brand Company Press Release | 13 Jun 00

VF Corporation (NYSE: VFC) announced today that it has received bankruptcy court approval to acquire the trademarks and inventory of the Gitano brand from Fruit of the Loom, Inc for approximately 18 million dollars."Gitano rounds out our portfolio of jeans brands that are specifically targeted to women shopping at mass merchandise stores," said Mackey J. McDonald, president and chief executive officer of VF Corporation. "The Gitano and Chic brands, together with a growing Wrangler and Riders women's business, give us the ability to offer a variety of brands and products at a range of price points to female consumers." The Gitano brand will become part of VF's mass jeanswear operation.

USA: Wechsler Harwood Halebian & Feffer LLP Announces Class Periods Company Press Release | 5 Jun 00

The following is an announcement from the law firm of Wechsler Harwood Halebian & Feffer LLP: BRISTOL-MYERS SQUIBB Co. (NYSE:BMY), e.spire COMMUNICATIONS, Inc. (NASDAQ:ESPI), FRUIT OF THE LOOM, Inc. (NYSE:FTL), and KITTY HAWK, Inc. (NASDAQ:KTTEQ) Notice to persons who transacted in the following securities and respective class periods:

USA: Imperial Home Decor Group Inc. Appoints Douglas R. Kelly as President and Chief Executive Officer | 22 May 00

The Imperial Home Decor Group Inc., the world's largest designer, manufacturer and distributor of residential wallcovering products, today announced that Douglas R. Kelly has been named president and chief executive officer. "Doug Kelly's broad business experience in marketing and sales in a creative consumer-products category combined with his operational expertise is exactly what's needed to lead IHDG to the next level," said chairman of the board R.




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