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  September 5, 2001
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Home > Company Index > Consumer Products-Non-Durables  > Apparel Clothing > Ithaca Industries, Inc.

Ithaca Industries, Inc.
OTC: ITHI
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 PROFILE
Ithaca Industries may keep underwear private, but the secret is out that the company is in debt. Ithaca makes private-label underwear and T-shirts for men, women, and children in more than 260 styles. It sells its products through more than 10,000 stores, led by JCPenney (50% of sales), The Gap, and Sears. The company filed for Chapter 11 bankruptcy protection in May 2000 in the wake of declining sales and increased competition. Ithaca sold its hosiery unit and shut down US plants in 1999 in an effort to shore up apparel operations. It assembles some products in Central America and has others made through Asian contractors. Northwestern Mutual owns 24% of Ithaca; DDJ Capital Management owns 18%.

 COMPETITION
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 FINANCIAL OVERVIEW
Fiscal Year-End: January
1999 Sales (mil.): 187.70
1-Yr. Sales Growth: (20.8)%
Employees: 4,611
Revenue per employee: $40,707.00

 KEY PEOPLE
• Jim D. Waller
    CEO
• Richard P. Thrush
    CFO

 CONTACT INFO
Hwy. 268 West, Box 620
Wilkesboro, NC 28697
US
Phone: 336-667-5231
Fax: 336-667-2979

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