WestPoint sales down in 2Q
Furniture Today Staff -- Furniture Today, August 10, 2011
New York - Executives at WestPoint Home parent Icahn Enterprises cited a soft housing market and the exit from some unprofitable programs for WestPoint Home's 23% sales decline in the second quarter.
For the period ended June 30, revenues for Icahn's home fashions division (WestPoint) fell to $82 million, with gross margin down 42%.
For the first six months, sales fell 5% to $190 million, with gross margin off 17%.
Icahn executives offered no additional remarks about the home business during a conference call with analysts or in the presentation materials.
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