Spinners Optimistic Despite Continuing Slump

Spinners Optimistic Despite Continuing Slump
Sales of commodity yarns continue to be stagnant mid-year, with many spinners reporting results significantly below projections. At the same time, while the downturn has been a disappointment, it does not, at least to this point, compare with the disastrous declines experienced in years past.
“I don’t think you could say we’re disappointed in our sales,” said one spinner. “Certainly, from the perspective of where we were last year at this time, we are well below expectations. But, we haven’t dropped
as far or as fast as we have experienced in the past. Our hope is that this is a temporary correction based on over-ordering in previous quarters and that business will return to normal levels in the very near future.”