WestPoint Sales Down in 2Q
Home Textiles Today Staff -- Home Textiles Today, 9/13/2011 4:38:01 AM
NEW YORK - Executives at WestPoint Home parent Icahn Enterprises cited a soft housing market and the exit from some unprofitable programs for West- Point Home's 23% sales decline in the second quarter.
For the period ended June 30, revenues for Icahn's home fashions division (WestPoint) fell to $82 million, with gross margin down 42%.
For the first six months, sales fell 5% to $190 million, with gross margin off 17%.
Icahn executives offered no additional remarks about the home business during a conference call with analysts or in the presentation materials.
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