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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (23278)	11/4/1999 12:44:00 PM
From: Return to Sender	Read Replies (1) \| Respond to of 108040

PTX pulled back a bit and now rallying. Loss reported for third quarter but future sounds pretty good to me: Charles M. Hansen, Jr., Chairman and CEO, stated that, ''The results reported today are embarrassing to me personally and to the Company. Over the past several days we had a number of unpleasant surprises. We have asked our outside accounting firm to provide additional assistance and to review certain procedures and controls to make sure that these surprises do not reoccur. We are taking every action necessary to protect the financial integrity of our Company. To that end, we recorded certain charges and took asset writedowns where appropriate.'' Hansen concluded, ''Our fourth quarter sales are progressing on plan and based on strong market responses we are optimistic about fiscal year 2000 sales. I am confident that we will put these difficulties behind us and return the Company to its historical performance levels.'' Statements contained in this press release that are not historical facts are forward-looking statements and could differ materially from actual results. Primary factors that could cause actual results to differ are discussed in the Company's most recently filed Form 10-K. Pillowtex Corporation, with annualized sales in excess of $1.5 billion, markets and manufactures home furnishings for the bedroom and bathroom under such industry leading brand names as ROYAL VELVET®, CANNON®, FIELDCREST®, CHARISMA®, TOUCH of CLASS® and ROYAL VELVET BIG and SOFT®. In addition, the Company also produces products under the licensed names of RALPH LAUREN and WAVERLY®. Pillowtex Corporation operates a network of manufacturing and distribution facilities in the U.S. and Canada with approximately 14,000 employees. biz.yahoo.com To all I am very long on PTX. Book value of over $17 a share. I think this is a steal at $5! Please do your own due diligence.