Newspapers / Amco News (High Point, … / Dec. 1, 1987, edition 1 / Page 2
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Page 2 A Chat With The Chairman Christmas is a very special time for all of us. It’s a time when we share so much with others. We share our memories. We share our gifts. We share our joys. We share our love. We share our selves. As we gather with friends and family during this season I hope we all will count our many blessings and share them appropriately. This is a time when we look forward to a new year as well. I hope the new year will bring joy, peace and prosperity to each member of the Adams-Millis Family. As “Tiny Tim,” the character in Charles Dic kens’ “A Christmas Carol,” puts it, “God bless us, every one! ” I wish for you a very Merry Christmas and your happiest and most prosperous new year ever. AMCONEWS December 1987 Vol.43,No.4 AMCO NEWS is edited and produced quarterly by Adams—Millis Cor poration, 225 North Elm Street, High Point, North Carlina, 27261. Contributions, comm ents and suggestions are always welcomed by your staff. Jackie Barnard, Editor Earnings The President’s Corner One of the “constants” that exists with any growing bmi ness IS change. During the past three years there has bepn lots of change within Adams-Millis. During that time we acquired Silver Knit, Hanes Socks and Maro Hosiery more than doubling the size of Adams Millis Corporation. With that much growth we must expect a proportionate amount of change. Since Maro became part of Adams-Millis in May 1986 we have been particularly busy trying to mesh the two com panies in a smooth transition. We know some of the changes n3V6 ups6t th6 norrnsl routin6 of some employees. We regret that this has to happen in a transition of this type, but It is a fact of life. What we are going through might be compared to a mar riage m which the two partners after the wedding each make adjustments to make their life together run more smoothly and efficiently. First there is a learning process in which each learns niore about the other. They then evaluate what must be changed and decide the most effective (and hopefully the last disruptive) way to make the change. changes usually cannot be made at once but through a transition period in which various changes are in place. It then becomes a matter of smoothing the rough edges or refining what has taken place. At Adarns-Millis we have gone through the learning pro cess and have decided on changes to be made and made others to follow. ^ the changes are necessary and potentially dis- p ive, with those changes are opportunities for both the and individual employees to grow. QnH being done should result in greater productivity Aa Adams-Millis which will benefit the entire Adams-Millis family. assure you that our “marriage” is going well and we hope to live happily ever after. hope it will be happy and pro sperous for each of you. / /h /^M^' James H. Millis, Sr., Chairman and Chief Ex ecutive Officer of Adams- Millis Corporation, reported net sales and earnings for the 39 weeks ended Sep tember 27, 1987 were $140,249,000 and $3,946,000 ($.83 per share) as compared to $120,252,000 and $3,782,000 ($.81 per share) for the same period last year. Third quarter net sales Dividend Adams-Millis Corporation Board of Directors declared a regular quarterly dividend of six cents per share pay able November 30, 1987, to shareholders of record Nov ember 17, 1987. and earnings were $50,539,000 and $1,766,000 ($.37 per share) for 1987 as compared to $53,778,000 and $1,841,000 ($.39 per share) for the 1986 third quarter. The increase in net sales for the 39 weeks is due pri marily to sales generated by Maro Hosiery Corp. which r986 April 30, Wall Street analysts have reported a slump in retail apparel sales. This slump combined with strong com pressures have re sulted m a decrease in sales and earnings during the third quarter. Some retailers planned to the holiday selling period which could lead to reduced orders for new merchandise during the fourth quarter. Merry Christmas and Happy New Year! From your Credit Union manager and represen tatives: JoanTremlett, Admin. Off. Betty Barbry, Human Resources Lydia Shelton, Plant 2 Jean Blaylock, Plants Helen Yount, Plante Portia Jenkins, Plants Rochelle Ester, Plant 1 Deby Earnhardt, Plants Pearl Willard, Plant 4 Teresa Campbell, Plant 7 Debbie Combs, Plant 11
Amco News (High Point, N.C.)
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Dec. 1, 1987, edition 1
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