CHATTANOOGA, Tenn. -- Carpet and rug manufacturer The Dixie Group said it expects to earn 2 cents a share in the third quarter, below analysts' expectations, due to weakening sales.
The company, which said it reduced its debt by $7 million during the quarter, also said its senior lenders have extended its credit agreement waiver until Nov. 30. The company's discussions with its lenders were delayed as a result of the Sept. 11 air attacks of the World Trade Center and Pentagon.