Today's Flooring News

Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.

UK Firm Close To Buying Pillowtex

Kannapolis, NC, June 20--Pillowtex Corp. a maker of sheets and towels which emerged from bankruptcy protection 13 months ago, is close to being bought by UK-based Homestead Fabrics Ltd. in a $300 million deal, a source familiar with the situation said on

Economists Expect Small Rate Cut

Washington, DC, June 19--A small cut in interest rates from the Federal Reserve next week should be the last with the U.S. economy soon pulling out of its doldrums, a top bankers' group forecast on Wednesday

Housing Starts Rise

Washington, DC, June 18--Builders ramped up the pace at which they started work on new homes and apartments in May to a seasonally adjusted annual rate of 1.73 million units

Consumer Price Index Flat

Washington, DC, June 17--Consumer prices were flat in May as falling costs for energy products and clothing offset rising prices for medical care and lodging.

Formica's Restructuring Plan Progressing

WARREN, NJ, June 13--Formica Corp. announced that it has taken an important step necessary to implement the restructuring of its balance sheet and emerge from Chapter 11.

Producer Prices Slip 0.3 Percent

Washington, DC, June 13--Wholesale prices fell in May as the end to the Iraq war caused energy prices to tumble, the government said on Friday, but the drop was mild enough to soothe worries about economy-wide price declines.

Retail Sales Edge Up

Washington, DC, June 12--Shoppers, after cutting back in April, opened their pocketbooks and wallets a bit wider in May, pushing up sales at the nation's retailers by 0.1 percent.

DuPont: AIC Ltd. Tenders 10.7 Million DuPont Cda S

Wilmington, DL, June 12--Chemical maker DuPont Co. on Wednesday said one of the larger minority holders of its DuPont Canada unit sold back about 16 percent of the shares DuPont does not already own, bringing DuPont closer to buying the unit.

Jobless Rate Hits Nine Year High

Washington, DC, June 9--The nation's unemployment rate climbed to a nine year high of 6.1 percent in May, but a slowing in the rate of job losses raised hopes that the weak economy is starting to recharge.

Retailers Gear Up For Possible Tax Boost

Chicago, IL, June 9--Attention shoppers. We welcome your tax-rebate checks. Family oriented retailers and restaurants may get a lift in sales this summer as millions of consumers with children receive tax rebates in the mail.