Concord Fabrics profits soar.(Brief Article)

Daily News Record, January, 1997

NEW YORK (FNS) -- Propelled by higher margins and lower costs, profits at Concord Fabrics Inc. quadrupled to $542,799, or 15 cents a share, from $133,500, or 4 cents, in the first quarter ended Dec. 1.

However, sales dropped 21.2 percent to $27 million from $34.3 million.

Concord said in a statement that its decision to de-emphasize the merchandising and marketing of woven fabrics to the apparel manufacturing trade has proven to be effective. The textile firm added that it will continue to seek to expand the distribution of its knitted fabrics line and grow its Concord House Division, which markets proprietary printed fabrics.

"Although sales are expected to continue to compare unfavorably with prior years' levels, earnings should continue to show...

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