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

DATE: WEDNESDAY, June 7, 1995                   TAG: 9506070041
SECTION: BUSINESS                    PAGE: B-6   EDITION: METRO 
SOURCE: Bloomberg Business News
DATELINE:                                 LENGTH: Short

PRICE DELAYS TO CUT FIELDCREST EARNINGS

Fieldcrest Cannon Inc., Eden, N.C., textiles maker operating a towel mill in Henry County, said Tuesday it expects delays in price increases to result in a substantial decline in second-quarter earnings. In the year-ago quarter, the company had earnings of $8.7 million, or 64 cents per share.

The company said results could be break-even, as lower-than-expected sales volume and reduced mill activity have compounded the effect of cost increases in cotton and other raw materials.

Also, certain of the price increases implemented to make up for the higher raw materials are now expected to occur in the third quarter. The company had said price increases ranging from 5 percent to 8 percent on all of its textiles would take effect March 1.

by CNB