Foreclosure Filings Continue to Surge
Irvine, CA, April 29, 2008--The number of U.S. homes in the foreclosure process more than doubled in the first quarter from a year earlier, according to research firm RealtyTrac Inc.
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.
Lumber Liquidators' Income Doubles on Expansion
Toano, VA, April 29, 2008--Lumber Liquidators Inc. reported that net income nearly doubled to $4.3 million, or $0.16 per diluted share, in the first quarter of 2008 compared to $2.2 million, or $0.10 per diluted share, in the first quarter of 2007.
Home Prices Continue Steep Decline
New York, NY, April 29, 2008--The Standard & Poor's/Case-Shiller home price index of 20 cities shows that U.S. home prices fell by 12.7 percent in February versus last year, with 17 of the 20 metro areas reporting record annual declines.
Percentage of Vacant Homes Sets New Record
Washington, DC, April 29, 2008--The percentage of vacant homes for sale in the U.S. reached a new record high in the first quarter, according to the Census Bureau.
Retail Sales Fall in Early April
New York, NY, April 29, 2008--U.S. chain store sales fell 1.3 percent in the first two weeks of April compared with the previous month, according to Redbook Research's latest indicator of national retail sales.
U.K. Housing Market Also Slowing Down
London, England, April 29, 2008--The number of home mortgages approved in the U.K. in March was the lowest number in 15 years of record keeping, according to the The Bank of England.
Tandus Names Joyce Senior VP of Sales
Dalton, GA, April 29, 2008--Tandus has named Rusty Joyce senior vice president of sales.
Starnet Names Annual Commercial Award Winners
Darien, CT, April 28, 2008--Starnet Worldwide Commercial Flooring Partnership has named the winners of its tenth annual 2007 Design Awards competition.
Natco Adding Manufacturing Capacity in Maine
West Warwick, RI, April 28, 2008--Natco Products Corp. is expanding its domestic area rug and accent rug machine-made operations, adding 60,000 square feet to its existing 100,000-square-foot manufacturing facility in Sanford, Maine.
Oil Prices Hit Record High After Refinery Strike
Vienna, Austria, April 28, 2008--Oil prices hit an all-time high just short of $120 a barrel today after a weekend refinery strike closed a pipeline system that delivers a third of Britain's North Sea oil to refineries in the U.K.