SPRINGS INDUSTRIES ANNOUNCES EARNINGS EXPECTATIONS
SPRINGS INDUSTRIES ANNOUNCES EARNINGS EXPECTATIONS FORT MILL, S.C., Dec. 16 /PRNewswire/ -- Springs Industries, Inc.
(NYSE: SMI) announced today that sales in the fourth quarter of 1991 will be only about three percent above last year, reflecting the impact of weakened shipments of its window hardware and industrial fabric businesses. As a result, the company is anticipating little, if any, improvement in net earnings over the fourth quarter of 1990.
While the performance of the bed and bath products and the restructured finished fabrics businesses has improved substantially versus a year ago, this improvement is largely offset by the weakness in sales and earnings for the window hardware and industrial fabrics businesses. -0- 12/16/91 /CONTACT: Robert E. Slough, Director of Public Relations, Springs Industries, Inc., 803-547-3738/ (SMI) CO: Springs Industries, Inc. ST: South Carolina IN: TEX SU: ERN
DF -- CH009 -- 2675 12/16/91 16:51 EST
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|Date:||Dec 16, 1991|
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