SECURITIES AND EXCHANGE COMMISSION
                         Washington, D. C. 20549

                                Form 10-Q

               QUARTERLY REPORT UNDER SECTION 13 or 15(d)
                 OF THE SECURITIES EXCHANGE ACT OF 1934



FOR THE QUARTER ENDED   February 28, 1999  COMMISSION FILE NUMBER 1-5960



                      CONCORD FABRICS INC.                               
        (Exact name of Registrant as specified in its charter) 



          DELAWARE                                  13-5673758           
(State or other jurisdiction of                   (I. R. S. Employer    
incorporation or organization)                    Identification No.)    
   



    1359 Broadway, New York, New York                      10018         
(Address of principal executive offices)                 (Zip Code)     




Registrant's telephone number, including area code   (212) 760-0300      





Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the Registrant was required to file such reports) and (2) has been
subject to such filing requirements for the past 90 days.  Yes X  No   .


2,168,626 shares of Registrant's Class A Common Stock, par value $.50
per share and 1,446,451 shares of Registrant's Class B Common Stock, par
value $.50 per share were outstanding as of March 18, 1999.

                                                               1 of 18<PAGE>
  
                   CONCORD FABRICS INC. AND SUBSIDIARIES

                      QUARTERLY REPORT ON FORM 10-Q

                 FOR THE QUARTER ENDED FEBRUARY 28, 1999



                               INDEX                      Page Number 

Part I.        Financial Information

     Item 1.   Financial Statements

               Consolidated Statements of Income -    
               Twenty-Six Weeks Ended February 28, 1999
               (Unaudited) and March 1, 1998 (Unaudited)            3
                 
               Consolidated Balance Sheets - February 28, 1999
               (Unaudited), August 30, 1998 (Derived  
               from Audited Financial Statements) and
               March 1, 1998 (Unaudited)                          4-5

               Consolidated Statements of Changes in 
               Stockholders' Equity (Unaudited for the period
               August 30, 1998 to February 28, 1999)                6
 
               Consolidated Statements of Cash Flows -
               Twenty-Six Weeks Ended February 28, 1999 
               (Unaudited) and March 1, 1998 (Unaudited)          7-8

               Notes to Consolidated Financial Statements
               (Unaudited)                                       9-13

     Item 2.   Management's Discussion and Analysis
               of Financial Condition and Results of
               Operations                                       14-16  

Part II.       Other Information

     Item 6.   Exhibits and Reports on Form 8-K                    17 

               Signature Page                                      18








                         
                                                              2 of 18<PAGE>
<TABLE>
Item 1. Financial Statements
        --------------------                                                    
                         
<CAPTION>                   CONCORD FABRICS INC. AND SUBSIDIARIES

                              CONSOLIDATED STATEMENTS OF INCOME

                                         (Unaudited)

                                           (Note A)



                              For the Twenty-Six Weeks Ended  For the Thirteen Weeks Ended    
                              ------------------------------  -----------------------------  
                                 February 28,     March 1,      February 28,    March 1,      
                                     1999           1998            1999          1998    
                                 -----------     -----------    -----------    -----------
<S>                              <C>             <C>            <C>            <C>
Net Sales .....................  $42,572,578     $50,845,249    $19,975,978    $26,094,847 
                                 -----------     -----------    -----------    ----------- 
Cost of Sales .................   29,166,111      35,060,890     13,693,014     17,979,549
Merchandising Expenses ........    3,151,216       3,782,591      1,450,936      1,910,106
Selling and Shipping Expenses .    3,918,232       3,853,571      1,927,549      1,961,265
General and Administrative 
   Expenses ...................    4,712,568       4,914,938      2,362,570      2,515,303
Interest Expense (Net) ........      353,591         353,155        168,104        179,114   
                                 -----------     -----------    -----------    ----------- 
      Total ...................  $41,301,718     $47,965,145    $19,602,173    $24,545,337    
                                 -----------     -----------    -----------    -----------    
                                                                                          
Earnings before income taxes ..    1,270,860       2,880,104        373,805      1,549,510 

Income tax provision ..........      544,000       1,160,000        169,000        625,000    
                                 -----------     -----------    -----------    -----------    

Net Earnings ..................  $   726,860     $ 1,720,104    $   204,805    $   924,510  
                                 ===========     ===========    ===========    ===========

Basic Earnings Per Share ......         $.20            $.47           $.06           $.25 
                                 ===========     ===========    ===========    ===========  

Diluted Earnings Per Share ....         $.19            $.45           $.05           $.24
                                 ===========     ===========    ===========    =========== 
Weighted average shares used in  
   computing basic earnings per    
   share ......................    3,680,209       3,665,107      3,677,893      3,665,107 
                                 ===========     ===========    ===========    ===========
Weighted average shares used in  
   computing diluted earnings
   per share ..................    3,737,265       3,808,259      3,736,200      3,820,079
                                 ===========     ===========    ===========    ===========
 
Dividend per Common Share .....      NONE            NONE           NONE           NONE   
                                 ===========     ===========    ===========    ===========

                                          
The attached notes are made a part hereof.

</TABLE>                                                             3 of 18<PAGE>
   
                     CONCORD FABRICS INC. AND SUBSIDIARIES

                          CONSOLIDATED BALANCE SHEETS

                                    (Note A)

                                                   August 30,   
                                                      1998   
                                                  (Derived from   
                                   February 28,      Audited         March 1, 
                                       1999         Financial          1998     
A S S E T S                        (Unaudited)     Statements)     (Unaudited)  
-----------                        ------------    ------------    ------------

Current Assets:
   Cash and cash equivalents ..... $10,538,473     $ 8,678,053     $ 8,442,437 
   
   Held to maturity investments     
      (at cost) ..................   9,863,897      14,593,225      14,043,354
  
   Accounts receivable (less
      allowance for doubtful accounts
      of $1,592,000 on February 28,     
      1999, $1,350,000 on August 30,  
      1998, and $1,651,000 on  
      March 1, 1998) .............  15,319,590      18,003,495      19,091,254 

   Inventories (Note B) ..........  17,435,189      16,015,819      16,005,692  

   Prepaid and refundable income
      taxes ......................     -0-             -0-             255,000
   
   Prepaid expenses and other
     current assets ..............   1,260,901       1,289,839       1,444,421  

   Deferred income taxes .........   1,839,000       1,935,000       1,542,000  
                                   -----------     -----------     -----------
   Total Current Assets .......... $56,257,050     $60,515,431     $60,824,158  

Property, plant and equipment
   (at cost, less accumulated   
   depreciation and amortization of
   $8,437,389 on February 28, 
   1999, $7,538,169 on August 30,  
   1998, and $7,221,667 on  
   March 1, 1998) ................   9,600,659       9,159,596       8,131,678  

Property and plant leased to others    -0-           1,737,052       1,813,132
                                              
Property, plant, & equipment held    
   for sale (Notes H & I) ........   2,966,701       1,352,319       1,902,059
Other assets .....................   2,869,074       3,119,732       2,758,144  
                                   -----------     -----------     -----------
      T O T A L .................. $71,693,484     $75,884,130     $75,429,171
                                   ===========     ===========     ===========  
The attached notes are made a part hereof.                            4 of 18 <PAGE>
                     CONCORD FABRICS INC. AND SUBSIDIARIES

                          CONSOLIDATED BALANCE SHEETS
                                    (Note A)
                                                   August 30,   
                                                      1998  
                                                  (Derived from  
                                   February 28,      Audited         March 1,
                                       1999         Financial          1998     
L I A B I L I T I E S              (Unaudited)     Statements)     (Unaudited) 
---------------------              ------------    ------------    ------------
Current Liabilities:
   Current portion of notes payable
      insurance company (Note D) . $ 2,850,000     $ 2,850,000     $ 2,850,000
   Accounts payable ..............   4,481,457       4,608,507       5,281,383 
   Accrued expenses and taxes ....   2,071,082       3,298,883       2,820,272  
   Income taxes payable ..........      74,000          59,000         309,000
                                   -----------     -----------     ----------- 
   Total Current Liabilities ..... $ 9,476,539     $10,816,390     $11,260,655  

Notes payable - insurance      
   company (Note D) ..............  14,300,000      17,150,000      17,150,000  
Deferred income taxes ............     288,000         288,000         550,000 
Other liabilities ................     409,249         556,249         520,249
                                   -----------     -----------     -----------  
   Total Liabilities ............. $24,473,788     $28,810,639     $29,480,904 
Commitments and contingencies      -----------     -----------     ----------- 
   (Notes B and C)
 
S T O C K H O L D E R S '  E Q U I T Y 
--------------------------------------
Common stock: (Notes E & F)  
   Class A - $.50 par value 
      authorized 4,000,000 shares,
      issued 2,288,656 shares at
      February 28, 1999, 2,237,656
      shares at August 30, 1998  
      and 2,216,356 shares at
      March 1, 1998 ..............   1,144,328       1,118,828       1,108,178 
   Class B - $.50 par value
      authorized 4,000,000 shares,
      issued 1,446,451 shares at
      February 28, 1999, 1,447,451
      shares at August 30, 1998  
      and 1,448,751 shares at
      March 1, 1998 ..............     723,226         723,726         724,376 
Additional paid-in capital .......   9,399,561       9,274,561       9,192,061
Retained earnings ................  36,683,236      35,956,376      34,923,652
Treasury stock at cost              
   117,266 shares (Note J) .......    (730,655)        -0-             -0-    
                                   -----------     -----------     -----------
   Total Stockholders' Equity .... $47,219,696     $47,073,491     $45,948,267
                                   -----------     -----------     ----------- 
      T O T A L .................. $71,693,484     $75,884,130     $75,429,171
                                   ===========     ===========     ===========  
The attached notes are made a part hereof.                             5 of 18<PAGE>
 
<TABLE>                        
                                    CONCORD FABRICS INC.

<CAPTION>                    CONSOLIDATED STATEMENTS OF CHANGES

                                  IN STOCKHOLDERS' EQUITY 



                  Class A Common Stock  Class B Common Stock Additional Retained  Total          
                    Number     Dollar    Number     Dollar    Paid-in   Earnings  Stockhold-
                   of Shares   Value    of Shares   Value     Capital             ers' Equity
                   -------------------- ------------------ ---------- ----------- -----------
<S>                <C>       <C>        <C>       <C>      <C>        <C>         <C>
September 1, 1996  2,146,956 $1,073,478 1,509,401 $754,701 $9,166,123 $29,844,823 $40,839,125
                                         
Net Earnings                                                            3,358,725   3,358,725

Conversion from
   Class B shares
   to Class A 
   shares             53,300     26,650   (53,300) (26,650)

Exercise of stock
   options             8,750      4,375                        25,938                  30,313
                   -------------------- ------------------ ---------- ----------- -----------
August 31, 1997    2,209,006  1,104,503 1,456,101  728,051  9,192,061  33,203,548  44,228,163
                                                                                             
Net Earnings                                                            2,752,828   2,752,828

Conversion from
   Class B shares
   to Class A
   shares              8,650      4,325    (8,650)  (4,325)
Exercise of stock
   options            20,000     10,000                        82,500                  92,500
                   -------------------- ------------------ ---------- ----------- -----------
August 30, 1998    2,237,656  1,118,828 1,447,451  723,726  9,274,561  35,956,376  47,073,491

Net Earnings                                                              726,860     726,860

Conversion from
   Class B shares  
   to Class A
   shares              1,000        500    (1,000)    (500)                                      
Exercise of stock                                                                    
   options            50,000     25,000                       125,000                 150,000
                   -------------------- ------------------ ---------- ----------- -----------
Balance            2,288,656 $1,144,328 1,446,451 $723,226 $9,399,561 $36,683,236 $47,950,351
                   -------------------- ------------------ ---------- -----------            
Less purchase of Treasury Stock
   in Fiscal 1999                                                                    (730,655)
                                                                                  -----------
February 28, 1999                                                                 $47,219,696  
                                                                                  ===========

The data reflecting Changes in Stockholders' Equity for the period August 30, 1998 to February
28, 1999 is unaudited.


The attached notes are made a part hereof.
</TABLE>
                                                                               
                                                                       6 of 18 
<TABLE>
                             CONCORD FABRICS INC. AND SUBSIDIARIES
<CAPTION>                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                          (Unaudited)
                                            (Note A) 

                                                        For the Twenty-Six Weeks Ended   
                                                       --------------------------------
                                                        February 28,         March 1,  
                                                            1999               1998    
                                                       ------------         ----------- 
Cash flows from operating activities:                       
<S>                                                    <C>                  <C>
   Net earnings ....................................   $   726,860          $1,720,104 
      Adjustments to reconcile net earnings to net
        cash provided by operating activities:          
         Depreciation and amortization .............       790,784             797,578
         Deferred income tax .......................        96,000             231,000
         Provision for doubtful accounts ...........       239,997             298,649

         Changes in assets:
            Decrease (increase) in:
               Accounts receivable .................     2,443,908           1,922,074 
               Inventories .........................    (1,419,370)         (3,101,790)
               Prepaid expenses and other
                 current assets ....................        28,938             (27,582)
               Other assets ........................       250,658             447,001 
         Changes in liabilities:
            Increase (decrease) in:
               Accounts payable ....................      (127,050)            988,176 
               Accrued expenses and taxes ..........    (1,227,801)           (658,215)
               Income taxes payable ................        15,000             309,000 
               Other liabilities ...................      (147,000)             36,000 
                                                       ------------         -----------
   Net cash provided by operating activities .......     1,670,924           2,961,995 
                                                       ------------         -----------  
Cash flows from investing activity:  
   Proceeds from sales of held to maturity                                               
      securities ...................................    20,548,882           7,832,478
   Purchases of held to maturity securities ........   (15,819,554)         (8,353,074)
   Purchases of property, plant, and equipment .....    (1,181,127)         (1,414,916)
   Proceeds from sale of machinery and equipment ...        71,950              34,910
                                                       ------------         -----------
Net cash (used in) provided by investing activities:     3,620,151          (1,900,602)

Cash flows from financing activities:
   Decrease in notes payable - insurance company ...    (2,850,000)            -0-
   Issuance of common stock (stock options exercised)      150,000             -0-    
   Repurchase of Class A Common Stock at cost ......      (730,655)            -0-
                                                       ------------         -----------
Net cash (used in) financing activities ............    (3,430,655)            -0-    

NET INCREASE IN CASH AND CASH EQUIVALENTS ..........     1,860,420           1,061,393 
                                                       ------------         ----------- 
Cash and cash equivalents - beginning of period ....     8,678,053           7,381,044 
                                                       ------------         -----------         
CASH AND CASH EQUIVALENTS - END OF PERIOD ..........   $10,538,473          $8,442,437  
                                                       ============         ===========

The attached notes are made a part hereof.



</TABLE>                                                                7 of 18<PAGE>
<TABLE>
                             CONCORD FABRICS INC. AND SUBSIDIARIES
<CAPTION>                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                          (Unaudited)
                                            (Note A)

                                                                             Continued  
 

                                                        For the Twenty-Six Weeks Ended   
                                                       --------------------------------
                                                       February 28,          March 1,  
                                                           1999                1998    
                                                       ------------        ------------      
Supplemental Information:
Cash Paid for:                                                           
<S>                                                        <C>                 <C>
     Interest ......................................       931,000             931,000
     Income taxes ..................................       571,164             750,500           





                                         


                                             
























The attached notes are made a part hereof.









                                         
</TABLE>                                                               8 of 18 <PAGE>
                    CONCORD FABRICS INC. AND SUBSIDIARIES
                                                                 
                              NOTES TO FORM 10-Q

                            AS AT FEBRUARY 28, 1999

                                  (Unaudited)

Note A

The accompanying unaudited consolidated financial statements have been
prepared in accordance with the instructions to Form 10-Q.  Accordingly, they
do not include all of the information and footnotes required by generally
accepted accounting principles for complete financial statements.  In the
opinion of management, all adjustments of a normal recurring nature
considered necessary for a fair presentation have been included.  Operating
results for the twenty-six weeks ended February 28, 1999 are not necessarily
indicative of the results that may be expected for the fiscal year ending
August 29, 1999.  These statements should be read in conjunction with the
financial statements and notes thereto included in the Company's annual
report to shareholders and Form 10-K for the fiscal year ended August 30,
1998.

Note B - Inventories:

Inventories are summarized by as follows:

                       February 28,      August 30,       March 1,   
                           1999             1998            1998    
                       ------------     -----------     ------------
Finished goods......... $ 9,866,267     $ 8,844,722      $ 8,109,402
Work-in-process........   1,935,774       2,596,291        2,545,014
Greige goods and yarn..   5,633,148       4,574,806        5,351,276
                       ------------     -----------     ------------
   Total............... $17,435,189     $16,015,819      $16,005,692 
                       ============     ===========     ============
    
The foregoing inventory amounts at February 28, 1999 and March 1, 1998 were
derived from perpetual inventory records maintained by the Company.

At February 28, 1999, the Company had outstanding commitments to purchase
greige goods aggregating $300,000.

Note C - Notes Payable - Banks:

At February 28, 1999, the Company was free of bank debt and had total unused
bank lines of credit aggregating $20,000,000.

The Company had approximately $99,000 of letters of credit outstanding as at
February 28, 1999.

Note D - Notes Payable - Insurance Company:

On November 30, 1994, the Company obtained a $20,000,000 loan from John
                                                                   9 of 18<PAGE>
   
                     CONCORD FABRICS INC. AND SUBSIDIARIES
                                                            
                              NOTES TO FORM 10-Q

                            AS AT FEBRUARY 28, 1999

                                  (Unaudited)          


                                                           Continued

Hancock Mutual Life Insurance Company.  This unsecured loan bears interest at
9.31% a per annum and is repayable in seven equal annual installments
commencing on November 30, 1998.  The first annual installment of $2,850,000
was paid during this quarter on November 30, 1998.

The loan agreement requires maintenance of certain financial ratios and
maintenance of tangible net worth of approximately $40,055,000.  The
agreement also prohibits the pledging of assets and restricts dividends and
redemptions of capital stock to $3,000,000 plus 50% of net earnings
subsequent to August 28, 1994; the cumulative amount available for such
payments aggregated approximately $5,476,000 at February 28, 1999.

Note E - Common Stock:

The Class A and Class B shares principally differ as follows:

(1)  The Class A shares have a 15% dividend preference and a 10% liquidation
preference with respect to the Class B shares.

(2)  Holders of Class A shares are entitled to one vote a share whereas
holders of Class B shares are entitled to ten votes a share.

(3)  Holders of Class A shares voting as a separate class are entitled to
elect 25% of the Company's directors and holders of Class A shares and Class
B shares voting together are entitled to elect the remaining directors.

(4)  Class B shares are convertible into Class A shares on the basis of one
share of Class A shares for each share of Class B shares;  Class A shares
have no conversion rights.

Note F - Stock Options:

Pursuant to an Incentive Program adopted on January 10, 1989, and amended on
December 4, 1996, awards (as defined) may be granted to key employees and
directors of the Company up to a maximum of 500,000 shares of the Company's
Class A common stock.

On January 9, 1996, options to purchase an aggregate of 200,000 shares of the
Company's Class A common stock at $4.625 a share (fair market value at such


                                                                  10 of 18
<PAGE>
                     CONCORD FABRICS INC. AND SUBSIDIARIES

                              NOTES TO FORM 10-Q            

                            AS AT FEBRUARY 28, 1999

                                  (Unaudited)

                                                           Continued 

date) were granted to two employees.  The options are exercisable in four
annual installments commencing January 9, 1997 and expire ten years from the
date of the grant.

On January 9, 1996 options to purchase 5,000 shares of the Company's Class A
common stock at $4.625 (fair market value at such date) were granted to two
outside directors.  On September 2, 1996, options to purchase an additional
5,000 shares of the Company's Class A common stock at $6.625 (fair market
value at such date) were granted to those directors.

On January 14, 1997, the Company granted an option to the Chairman of the
Board of Directors to purchase an aggregate of 70,000 shares of the Company's
Class A common stock at $7.0125 a share (110% of the fair market value at
such date).  This option is exercisable in five annual installments
commencing January 14, 1998, and expires five years from the date of grant;
the Chairman was also granted an option to purchase 30,000 shares of the
Company's Class A common stock at $6.375 a share.  This option is exercisable
in five annual installments commencing January 14, 1998 and expires ten years
from the date of grant.
 
On January 13, 1998 options to purchase 7,500 shares of the Company's Class A
common stock at $8.875 (fair market value at such date) were granted to three
outside directors.  The options are exercisable January 13, 1999 and expire
five years from the date of grant.

On November 10, 1998 options to purchase 30,000 shares of the Company's Class
A common stock at $6.50 (fair market value at such date) were granted to
three outside directors (10,000 shares each). The options are exercisable
over a four year period commencing November 10, 1999 at 25% per year and
expire five years from the date of grant.

The Company accounts for equity - based awards granted to employees and
directors under APB Opinion No. 25 under which no compensation cost has been
recognized for stock options granted at fair market value.  Had compensation
cost for these stock options been determined consistent with SFAS No. 123,
the decrease in the Company's net earnings and net earnings per share would
have not been material. 

Note G - Earnings Per Share:

In 1997, the Financial Accounting Standards Board issued SFAS No. 128,
"Earnings Per Share."  SFAS No. 128 replaced the calculation of primary and   

                                                                 11 of 18<PAGE>
     
                                       
                    CONCORD FABRICS INC. AND SUBSIDIARIES

                              NOTES TO FORM 10-Q

                           AS AT FEBRUARY 28, 1999

                                 (Unaudited)

                                                           Continued         

 
fully diluted earnings per share with basic and diluted earnings per share. 
Basic earnings per share excludes any dilutive effects of options, warrants
and convertible securities.  Diluted earnings per share gives effect to all
potentially dilutive common shares that were outstanding during the period
under the Company stock option Incentive Program (Note F).  All earnings per
share amounts for all periods have been presented and, where appropriate,
restated to conform to the SFAS No. 128 requirements.

Note H - Chino, California Facility:

In February 1994, the Company leased the land and building at its Chino,
California facility for a five year period at an annual net rental of
$297,000; the lessee was also granted the option to purchase the land and
building during the lease period for $2,900,000.  In the first quarter of
fiscal 1999 the lessee chose not to exercise its purchase option and the
Company put the property up for sale.  The property has been reclassified to
property, plant, & equipment held for sale.  The estimated market value of
this asset exceeds its book value which at February 28, 1999 was $1,674,000. 
It was formerly classified as property and plant leased to others.
                                        
Note I - Washington, Georgia Facility:

In the fourth quarter of fiscal 1995 the Company decided to dispose of its
Washington, Georgia dyeing and finishing plant and has been actively
searching for a buyer; manufacturing operations ceased October 6, 1995.  At
such time, the Company reclassified the facility to property, plant and
equipment held for sale and estimated the net realizable value of the
facility and accrued expenses for an estimated disposition period.

In fiscal 1998, the Company reevaluated the facility and, in that connection,
recorded a charge of $500,000 reflecting the estimated impairment in value.  

On March 9, 1999, the Company sold the Washington plant and equipment for
$1,340,000 cash which approximated book value.                                
                                                                              
                                                                              



                                                                              
                                                                  12 of 18<PAGE>

                    CONCORD FABRICS INC. AND SUBSIDIARIES

                              NOTES TO FORM 10-Q

                           AS AT FEBRUARY 28, 1999

                                 (Unaudited)

                                                           Continued          

Note J - Stock Repurchase:

In September, 1998, the Company's Board of Directors authorized the
repurchase of up to 300,000 shares of the Company's common stock.  The
repurchases were to be made at the discretion of Concord's management
depending upon financial and market conditions and in accordance with rules
provided by the Securities and Exchange Commission and the American Stock
Exchange.  At February 28, 1999, 117,266 shares had been repurchased at an
average cost of $6.23 per share and are recorded in the Stockholders' Equity
section of the Balance Sheet as Treasury Stock.

Note K - Concord Fabrics (UK) Limited:
     
Concord Fabrics (UK) Limited, a wholly owned subsidiary of Concord Fabrics
Inc. was incorporated on February 19, 1999.  It is in the process of
acquiring inventory and other assets of an United Kingdom business.  The
transaction is expected to close in March, 1999 and will not have a material
impact on the Company's Balance Sheet or its results of operations for fiscal
1999.






















                                                                  13 of 18<PAGE>
  
                    CONCORD FABRICS INC. AND SUBSIDIARIES

                              FEBRUARY 28, 1999                       
  
Item 2..........MANAGEMENT'S DISCUSSION AND ANALYSIS OF
             FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

OPERATIONS - Twenty-Six Weeks Ended February 28, 1999 Compared With Twenty-
Six Weeks Ended March 1, 1998.

Fabric sales decreased by 16.3%.  This resulted from a 14.7% decline in yards
sold and a 1.9% decrease in average selling price.  Sales of knitted fabrics
and to a greater extent sales of Concord House fabrics declined.

Gross profit margin increased from 31% in the prior period to 31.5% in the
current period.  Lower raw material costs resulted in improved gross margins
on knitted fabric sales which offset slightly lower gross margins on Concord
House fabric sales.

Merchandising expenses declined by 16.7% or approximately $631,000.  Reduced
sales and less design related expenses resulted in the lower expenses.  In
both the current period and the prior year's period merchandising expenses
were 7.4% of sales.    

Selling and shipping expenses increased 1.7% primarily due to higher cost of
sales aids and advertising.  As a percent of sales, selling and shipping
expenses increased from 7.6% in 1998 to 9.2% in 1999.

General and administrative expenses decreased 4.1%; as a percent of sales
they increased from 9.7% in 1998 to 11.1% in 1999.

Earnings before income taxes for the first twenty-six weeks of fiscal 1999
were $1,271,000 compared with $2,880,000 for the first twenty-six weeks of
fiscal 1998.  Net earnings were $727,000 for 1999 and $1,720,000 for 1998. 
The decline in earnings was principally due to the decline in sales of
Concord House fabrics.  Expenses declined by $769,000 but as a percent of
sales they increased from 24.7% in the first twenty-six weeks of fiscal 1998
to 27.7% in the current period.  To date management has not been successful
in reducing expenses at the rate at which sales have declined.  Expense
reductions were effected in late January, 1999 and it is expected that they
will be fully reflected in the third fiscal quarter.  Customer orders for
future deliveries continue at levels below those obtained in fiscal, 1998 and
it is likely that the thirty-nine week earnings will decline from fiscal 1998
levels.

The Company's planned acquisition of the assets of a United Kingdom business
is expected to enable the Company to establish a presence in Europe and
provide the Company with an additional brand which it will market globally.

OPERATIONS - Thirteen Weeks Ended February 28, 1999 Compared With Thirteen
Weeks Ended March 1, 1998.

Fabric sales decreased by 23.4%.  This resulted from a 20.3% decline in yards
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                    CONCORD FABRICS INC. AND SUBSIDIARIES

                              FEBRUARY 28, 1999

                                                           Continued

  
Item 2..........MANAGEMENT'S DISCUSSION AND ANALYSIS OF
             FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

sold and a 4.0% decrease in average selling price.  Sales of knitted fabrics
and to a much greater extent sales of Concord House fabrics declined.

Gross profit margin increased from 31.1% in fiscal 1998 to 31.5% in fiscal
1999.  Lower raw material costs resulted in improved gross margins on knitted
fabric sales which offset slightly lower gross margins on Concord House
fabric sales.

Merchandising expenses declined by 24% or approximately $459,000.  Reduced
sales and less design related expenses resulted in the lower expenses.  In
both the current period and the prior year's period merchandising expenses
were 7.3% of sales.

Selling and shipping expenses decreased 1.7%; as a percent of sales they
increased from 7.5% in 1998 to 9.6% in 1999.

General and administrative expenses decreased 6.1%; as a percent of sales
they increased from 9.6% in 1998 to 11.8% in 1999.

Earnings before income taxes for the second quarter of fiscal 1999 were
$374,000 compared with $1,550,000 for the second quarter of fiscal 1998.  Net
earnings were $205,000 for 1999 and $925,000 for 1998.  Expenses declined by
$646,000 but as a percent of sales they increased from 24.5% in the second
quarter of fiscal 1998 to 28.7% in the current period.  To date management
has not been successful in reducing expenses at the rate at which sales have
declined.  Expense reductions were effected in late January, 1999 and it is
expected that they will be fully reflected in the third fiscal quarter.
Customer orders for future deliveries continue at levels below those obtained
in fiscal, 1998 and it is likely that third quarter earnings will decline
from fiscal 1998 levels. 

LIQUIDITY AND CAPITAL RESOURCES

During the first twenty-six weeks of fiscal 1999, the Company's operations
provided $1,671,000 cash primarily as a result of lower accounts receivable
reflective of the decline in sales.  Fixed assets in the amount of $1,181,000
were acquired ($868,000 for plant and equipment at the Company's
Milledgeville, Georgia production facility and the balance for furniture,
fixtures and leasehold improvements in the Company's New York office).  The
Company reduced its investments in held to maturity securities by $4,729,000. 
The sale of machinery and equipment produced $72,000 in cash.  The repurchase 

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                    CONCORD FABRICS INC. AND SUBSIDIARIES

                              FEBRUARY 28, 1999


                                                           Continued


Item 2 ...........MANAGEMENT'S DISCUSSION AND ANALYSIS OF
               FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS



of 117,266 shares of stock cost $731,000; the exercise of stock options
produced $150,000.  $2,850,000 was paid as the first scheduled repayment of
notes payable - insurance company.  As a result, cash increased by $1,860,000
during the period.  Working capital decreased by $2,919,000.  The Company
expects its short-term cash investments, its lines of credit, and cash flow
from operations to be adequate to finance operations and meet its cash
requirements for the rest of fiscal 1999. 

Year 2000 Compliance           

The Company believes it has taken reasonable steps in developing its Year
2000 Program.  Its computer systems provide for four digits in the year field 
so that data processing and reporting should not be disrupted at the
millennium.  Notwithstanding this, the Company cannot be certain whether
microprocessors embedded in other equipment or Year 2000 problems of its
customers, key suppliers or service providers will be discovered and or
resolved satisfactorily before the Year 2000.  The Company is requesting
information on Year 2000 issues from third parties significant to its
business 

If the Company's key suppliers, service providers, customers and other third
parties fail to adequately address their Year 2000 Problems, and there are no
alternatives available to the Company, then the Company's usual channels of
supply and distribution could be disrupted with a resulting adverse impact on
its business.  The Company does not believe that the cost of its Year 2000
program will be material to its financial position or its results of
operations.

Forward Looking Statements

This report contains forward looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and actual results could
differ materially from those contemplated by such statements.  Such forward
looking statements include references to expected future results of
operations and Year 2000 issues.  



 
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                     CONCORD FABRICS INC. AND SUBSIDIARIES

                                   FORM 10-Q
                                                                            
                                    PART II


                                                             

                    Item.6. Exhibits and reports on Form 8-K

                         (a) Exhibits - None

                         (b) No report on Form 8-K was filed by
                             the Company during the twenty-six      
                             weeks ended February 28, 1999.


                                       























                                                           








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                    CONCORD FABRICS INC. AND SUBSIDIARIES
                    -------------------------------------
                                  SIGNATURES
                                  ----------



Pursuant to the requirements of the Securities Exchange Act of 1934, Concord
Fabrics Inc. has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                                       
                                       CONCORD FABRICS INC.                   
                                       ---------------------------------
                                       Registrant
                    



Date: March 30, 1999                   By /s/ Earl Kramer
                                       Earl Kramer
                                       President and Chief Executive 
                                       Officer
 




Date: March 30, 1999                   By /s/ Martin Wolfson            
                                       Martin Wolfson
                                       Senior Vice President-Treasurer
                                       Chief Financial Officer







                  



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