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To: re3 who wrote (74355)	11/8/1999 7:34:00 PM
From: flatsville	Read Replies (1) \| Respond to of 86076

Speaking of which Fruit of the Loom takes it in the er, uh, shorts over a computer problem. I love this part-- >>>The apparelmaker has been beset by production and customer-service problems for months, although Bookshester expressed optimism for the future based on rising demand and a 6 percent quarterly growth in sales of men's and boys' underwear, a Fruit of the Loom mainstay.<<< No doubt the rising demand is from their own investors who are busy turning their white briefs brown...Notice no mention that the problem is fixed, just "expressed optimism for the future." library.northernlight.com Fair Use/etc... Fruit of the Loom Has $166.4M Loss Story Filed: Thursday, November 04, 1999 6:02 PM EST CHICAGO (AP) -- Fruit of the Loom Inc.'s stock fell more than 10 percent Thursday after the company reported a steep third-quarter loss and predicted its troubles will continue into the fourth quarter. The apparelmaker said it lost $166.4 million, or $2.49 a share, compared to net earnings of $50.4 million, or 70 cents a share, a year earlier. The loss reflected $90 million in charges, including $30 million each for inventory adjustments and provisions for slow-selling and discontinued products. Sales fell to $548 million from $593.7 million. The company's stock fell 31 1/4 cents to $3.06 1/4 a share in trading at 5:15 p.m. on the New York Stock Exchange. Acting chief executive Dennis Bookshester blamed ''manufacturing inefficiencies'' which he said will continue to affect the Chicago-based company in the fourth quarter. He said more charges are anticipated in the final quarter and that the company is working to sell non-core assets. Gains in retail sales were more than offset by lower sales in the The apparelmaker has been beset by production and customer-service problems for months, although Bookshester expressed optimism for the future based on rising demand and a 6 percent quarterly growth in sales of men's and boys' underwear, a Fruit of the Loom mainstay. sports and licensing division due to weaker demand in outerwear apparel and sales declines in Europe, the company said. Long-time chief executive William Farley departed that post in August because of the difficulties, some of which were blamed on Fruit's computer system. Fruit of the Loom, which has about 40,000 employees in over 60 locations worldwide, makes underwear, casual wear, sports wear and children's wear under the brand names Fruit of the Loom, BVD and Gitano, among others. For the nine months ended Oct. 2, Fruit of the Loom reported a loss of $177.7 million, or $2.61 a share, compared to a gain of $146.9 million, or $2.04 a share, for the same period of 1998. Nine-month sales fell to $1.51 billion from $1.68 billion. Copyright © 1999 Associated Press Information Services, all rights reserved.