APPAREL

Fruit of the Loom Inc. to Shorten Workweek: The company said its U.S. plants will move to a four-day, 32-hour workweek in the first quarter of 1994 to reduce inventories. The firm also said that all U.S. plants will be closed during the first week of January. The maker of T-shirts, underwear and fleece wear was hurt in the fourth quarter by soft retail apparel sales. Earlier this month, Fruit of the Loom said fourth-quarter earnings would fall short of analyst estimates due to higher operating costs because plants weren’t being fully utilized. Separately, Fruit of the Loom signed a letter of intent to buy Josten Inc.’s sportswear division, a Josten’s spokesman said.