Thursday October 9, 1:00 pm ET CHATTANOOGA, Tenn.--(BUSINESS WIRE)--The Dixie Group, Inc. (NASDAQ:DXYN - News ) today announced that its earnings for the third quarter ended September 27, 2008, will be adversely affected by continuing weakness in the sales of new and existing homes and deteriorating credit conditions. In response to the difficult economic environment, the Company has developed cost-reduction initiatives that will begin to be implemented during the fourth fiscal quarter of 2008 to better utilize its facilities and reduce costs. "We are disappointed that residential carpet markets have continued to weaken and commercial carpet sales have declined faster than anticipated," commented Dan K. Frierson, chairman and chief executive officer. "As a result, we expect to report a loss from continuing operations for the...
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