NEW YORK — Cone Mills Corp.’s "reinvention plan" paid off in the second quarter as the textile maker reported its highest quarterly earnings in six years.
For the three months ended June 30, the Greensboro, N.C.-based fabric producer reported net income of $3.1 million, or 8 cents a diluted share. That compares favorably with last year’s period when Cone Mills lost $26.5 million, or $1.08 a share. Earnings per share beat Wall Street forecasts by a penny.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"