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.

Federated’s 2Q Earnings Off

Cincinnati, OH, August 11--Federated Department Stores reported lower second-quarter profits Wednesday as a one-time cost for debt repurchases ate into earnings.

May Department Stores 2Q Earnings Up

St. Louis, August 11--May Department Stores posted higher second quarter profit, helped by cost savings and sales of items like handbags and jewelry.

Fed Ups Rates 0.25%

Washington, DC, August 10-- The Fed raised short-term interest rates by a quarter percentage point, the second such increase this summer, asserting that the U.S. economic recovery remains intact despite recent "softness."

Fed Expected to Raise Rates Today

Washington, August, 10--The Federal Reserve is scheduled to meet and its expected to hike interest rates by one-quarter of one percent.

Lane’s Acquires Manhattan Contract Dealer

New York, August 10 --Lane’s Floorcoverings, a major New York City contract dealer, has acquired Kramer Carpet Corp., another Manhattan dealership.

2Q Productivity Slows

Washington, August 10-- The productivity of U.S. workers grew at its slowest pace in 18 months in the second quarter, which spurred a jump in the growth of unit labor costs from earlier this year.

UK’s Carpetright Increases Market Share

Rainham, England, August 10—U.K. Carpet retailer Carpetright improved market share during an encouraging start to its financial year, according to Scotsman.com.

Weekly Chain Store Sales Up 0.1%

New York, August 10--Chain store sales grew in the latest week thanks to state sales tax holidays, though the pace slowed from the previous period, a report said on Tuesday.

Wholesale Inventories up 1.1% in June

Washington, DC, August 9-- Wholesalers built up their inventories again in June while sales were flat, the Commerce Department estimated Monday.

Susan Buffett Estate to Sell Berkshire Shares

Omaha, NE, August 10--Berkshire Hathaway Inc. said that the estate of recently deceased Susan Buffett would sell 1,200-1,500 of the company's class A stock over the next two years to pay taxes, expenses and other cash bequests.