Penney's Profit Falls, Macy's Takes a Loss
New York, NY, May 15, 2008--Retailer J.C. Penney Co. reported a 50 percent drop in quarterly profit on Thursday as weak demand forced it to cut prices to clear unsold merchandise.
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.
New York, U.S. Manufacturing Declines in May
New York, NY, May 15, 2008--New York manufacturing contracted in early May for the third time in four months, as a drop in orders caused businesses to pull back.
Marazzi Controlling Shareholder To De-list Firm
Milan, Italy, May 14, 2008--The controlling shareholder of the Italian ceramic tile producer Marazzi SpA said he plans to de-list the company, two years after its initial public offer.
Beaulieu Int'l Wins Patent Dispute With Pergo
Racine, WI, May 13, 2008--United States District Court for the Eastern District of Wisconsin on May 1 confirmed the earlier jury verdict of December 14, 2007 ruling that Beaulieu International Group did not infringe any of Pergo's patents.
Fire Hits Bealieu Plant, Extent of Damage Unknown
Dalton, GA, May 14, 2008—Beaulieu of America confirmed that a fire occurred in its Memofil Plant in Dalton, Georgia on Tuesday. All personnel were safely evacuated and no one was injured during the incident.
Inalco Wins Grand Prize for Coverings Display
Orlando, FL, May 14, 2008--Coverings tile show recognized outstanding booth design and product display with its Best in Show Booth Awards. (Editor's Note: See today's interview on FloorDaily, which was conducted in the winning Inalco booth.)
Foreclosures Show No Signs of Easing
Irvine, CA, May 14, 2008--Foreclosures rose 65 percent in April compare to a year ago as more homeowners fell behind on mortgage payments last month, according to research firm RealtyTrac Inc.
Home Prices Plummet on Fewer High End Sales
Washington, DC, May 13, 2008--Single-family home prices in the first quarter fell by the largest year-over-year amount since at least 1982, according to the National Association of Realtors.
Solutia Expanding Resin Production
St. Louis, MO, May 14, 2008--Solutia plans to expand its resin capacity for the third time in two years.
WFCA In Aggressive Awareness Campaign
Anaheim, CA, May 14, 2008--Through ongoing and aggressive initiatives designed to increase floor covering awareness, the World Floor Covering Association (WFCA) said it is reaching target consumers in record numbers.