ALBA-WALDENSIAN STRONG: Things kept looking better and better for Alba-Waldensian last week.
On Tuesday the Valdese, N.C., firm, which makes women’s innerwear and legwear as well as men’s socks and sweaters, estimated fourth-quarter earnings would come in at 22 cents a share, sharply above a year ago. Then on Thursday it issued another forecast for the quarter, calling for earnings of $585,000, or 32 cents a share. In the fourth quarter of a year ago, the company earned $16,133, or 1 cent.
Thomas F. Schuster, president and chief executive officer, said the earlier projection was overly conservative.
If fourth-quarter earnings hit the latest target, full-year per-share earnings would be $1.24, against 54 cents, the firm said.
“Obviously, we’ve had a very strong year, and we expect our momentum to carry on through 1995,” said Schuster. In the first nine months of 1994, Alba-Waldensian’s earnings rose 73.8 percent to $1.7 million, or 91 cents, while sales gained 14.1 percent to $42.8 million.
In another development, Alba-Waldensian has opened its first outlet store — a unit in the Factory Merchants Outlet Mall in Branson, Mo.
WACOAL WEIGHS IN: Wacoal Corp., the giant Japanese innerwear maker, recently reported pretax profit for the first half ended Sept. 30 rose 8.1 percent, but net profit was off 2 percent. Sales for the period rose 2.5 percent.
Pretax earnings for the six months came to $71.6 million (7.18 billion yen) at current exchange, with net profit of $34.4 million (3.45 billion yen) on sales of $665.6 million (66.71 billion yen).
A year ago, the intimate apparel maker reported pretax earnings of 6.65 billion yen for the first half, net profit of 3.52 billion yen and sales of 65.1 billion yen.