Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, September 23, 1994                   TAG: 9409240054
SECTION: BUSINESS                    PAGE: A7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

IN BUSINESS

VF Corp., the Wyomissing, Pa.-based parent of Bassett-Walker Inc. in Martins-ville, said Thursday it has entered a joint venture that is the first significant entry of a major brand of American jeans into the Chinese market.

Through the agreement, VF, maker of Lee brand jeans, will hold a majority stake in a new company, the Guangdong Taishan Lee Clothing Co. Ltd.

Other partners are the Famous Horse Group, a large textile and apparel manufacturer based in Hong Kong and China, and the Taishan Textiles Import and Export Co., a Chinese government agency. The joint venture plans eventually to change its name to the China Lee Jeans Co.

The new company first will market Lee jeans to department stores and specialty stores in the southern province of Guangdong, China's wealthiest province.

The company plans to then expand to Beijing, Shanghai and other major cities throughout China.

- Staff report

Food Lion reports rise in income

Food Lion Inc., the Salisbury, N.C., supermarket chain, reported net income of $36.6 million, or 8 cents per share, for its third quarter ended Sept. 10, compared with $24.7 million, or 5 cents per share, a year earlier.

Sales for the quarter were $1.85 billion, up from $1.81 billion. For the first nine months, net income was $102.5 million, or 21 cents per share, compared with $77.3 million, or 16 cents per share, a year earlier. Sales for the nine months were $5.48 billion, up from $5.21 billion.

- Staff report