Westpoint Home Revenue Dives To $425m In 2008

摘要

WestPoint Home, once a $2 billion home textiles manufacturing goliath, saw its sales shrink by 37.8% to $425 million for the year ended Dec. 31, 2008, down from $683 million in 2007.rnFourth-quarter sales slid 29.6% to $107 million, downrnfrom $152 million in 2007.rnAs WestPoint continued to cut costs, however, it narrowed its operating loss to $95 million for the year, down from an operating loss of $159 million in 2007. Gross margin, just $2 million in 2007, grew to $31 million last year, which the company said "came from shifting manufacturing capacity from thernU.S. to lower cost countries."