Economy Grows In First Quarter
Washington, DC, Apr. 25--The U.S. economy, frozen at the start of the year by war anxieties, still managed to grow at an annual rate of 1.6% in the first three months, according to the Commerce Department.
Today's Flooring News
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Dow Chemical's Profit Falls 28 Percent
Midland, MI, April 24--Dow Chemical Co. reported a nearly 28 percent drop in first quarter profits Thursday despite a surge in revenue, as increases in raw materials and energy costs ate into the bottom line.
Pergo AB’s Sales Down
Trelleborg, Sweden, April 22--Net sales for Sweden’s Pergo AB, excluding currency effects, were down 15% in the first quarter of this year to 679 million Swedish Krona from 905 million Krona in the first quarter of 2002.
3M Earnings Up Over 11 Percent
Chicago, IL, April 21--Industrial conglomerate 3M Co. said on Monday its quarterly earnings rose over 11 percent, helped by strong sales in its new displays and graphics division and by cost controls.
Consumer Prices Rise
Washington, DC, Apr. 16--Consumer prices rose 0.3% in March, largely reflecting higher energy costs. But most other prices were under control, suggesting the nation's inflation picture looks good.
Business Inventories Rise
Washington, DC, Apr. 14--Businesses' stockpiles of unsold goods rose in February as sales fell amid prewar jitters. According to the Commerce Department, business inventories went up 0.6% in February, compared with a 0.3% rise in January.
Producer Price Index Up
Washington, DC, Apr. 11-Wholesale prices rose 1.5% in March, according to the Labor Department. The increase reflected a jump in energy costs stoked by war tensions and sharply higher prices for cars and clothes.
Florim USA Plans For Growth
Clarksville, TN, April 10-- As Florim USA launches its fourth year of operations, its parent, The Florim Group, is projecting continued growth and plans ongoing investments and improvements.
Ross May Not Bid On Burlington
Greensboro, NC, Apr. 9--Wilbur Ross, who many thought would be the lead bidder for Burlington Industries after Berkshire Hathaway dropped out, said he would step aside if another buyer put forth a good price for the bankrupt carpet and apparel maker.
Home Depot Canada Head To Run Expo
Atlanta, GA, Apr. 9--Home Depot has named Annette Verschuren to head the 53 store Expo Design Center, according to a report in the Atlanta Journal-Constitution. Verschuren will serve as interim president of the division while a replacement for Bob Wittman