May CEO's Exit Sparks Buyout Speculation
St. Louis, MO, January 19--May Department Stores Co. stock surged Tuesday amid renewed optimism for the company in the wake of chief executive Gene S. Kahn's abrupt resignation Friday.
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.
Ryland 4Q Earnings Up 26%
Calabasas, CA, January 19—-Homebuilder Ryland Group posted 26 percent growth in fourth-quarter profit and increased its 2005 outlook.
Solutia's Board Approves Funding For Incentive
Washington, DC, January 19--Solutia Inc. said Tuesday in a regulatory filing that its board approved funding for the company's 2004 incentive program.
Fire Damages Silo at a Robbins Plant
Ishpeming, MI, January 19--A fire in a silo at the Robbins Inc. flooring mill kept more than two dozen firefighters on the scene for nearly 12 hours in bitter cold Monday according to the Detroit Free Press.
December CPI Up 0.1%
Washington, DC, January 19--Consumer prices were off 0.1 percent in December, led by a drop in gasoline and heating oil prices, according to a Labor Department report. The core index, which excludes food and energy increased 0.2%.
Oregon Rug Dealer Moves to Larger Quarters
Phoenix, OR, January 19--Bug in a Rug blended well for many years inside New West Imports in Medford. The area-rug dealer eventually outgrew its habitat, however, and needed a place of its own, according to the Medford, Oregon, Mail Tribune.
HMI: Builders Confident in Housing Market
Washington, DC, January 19--The nation’s home builders expect the housing market to remain strong as a growing economy helps offset the impact of slowly rising mortgage interest rates, according to the National Association of Home Builders/Wells Fargo Hou
MeadWestvaco Sells Papers Business
Stamford, CO, January 18--MeadWestvaco Corp. has agreed to sell its papers business, including several mills and forest land, for $2.3 billion to a private buyout group so it can focus on its packaging business.
NRF Forecasts '05 Retail Sales Growth of 3.5%
New York, NY, January 18--The National Retail Federation (NRF) released its 2005 forecast today, predicting that general merchandise store sales will in increase 3.5 percent from last year.
Faus Licenses Berry Floor
Dalton, GA, January 18--Faus announced that it has granted Berry a patent license on its Embossed-In-Register and Joint Guard beveled edge patents.