NEW YORK — Last year was another tough one for the U.S. textile industry, though the nation’s mills managed, on a whole, to score improvements in sales and earnings.
According to the American Textile Manufacturers Institute’s yearend economic report, released Tuesday, the industry’s aftertax profits in 2002 came in at $1 billion, up fivefold from $200 million in 2001. Corporate sales for all classes of textile products, including those destined for home and industrial use, as well as apparel fabrics, rose 1.7 percent to $48 billion.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)