2022 Emerging Leaders Award Now Accepting Nominations
Chattanooga, TN, December 16, 2021-The submissions period for the 2022 Emerging Leaders Award is now open.
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.
E.J. Welch to Acquire Cheney Carpet & Vrooman Carpet
Minneapolis, MN, December 15, 2021—A letter of intent has been signed for E.J. Welch Company, a division of Center Rock Capital Partners’ Merit Distribution Group, to acquire Cheney Carpet and Vrooman Carpet, a specialty flooring distributor in the Upper Midwest.
Retail Sales Inched Up 0.3% in November, Slowing from Oct.'s 1.8%
Washington, DC, December 15, 2021-Advance estimates of U.S. retail and food services sales for November 2021 were $639.8 billion, an increase of 0.3% from the previous month and 18.2% above November 2020, according to the U.S. Census Bureau.
Builder Sentiment Rose 1 Point to 84 in December
Washington, DC, December 15, 2021—Builder sentiment in the market for newly built single-family homes moved one point higher to 84 in December, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This ties the highest reading of the year that was posted in February.
Millennials Driving Housing Market Demand
New York, NY, December 15, 2021-"For years, conventional wisdom held that millennials, born from 1981 to 1996, would become the generation that largely spurned homeownership,” reports the Wall Street Journal.
CARE's Q3 Recycling Rate Hits 28%
Dalton, GA, December 15, 2021-Following a solid performance in Q1 and Q2 2021, the California Program’s recycling rate for Q3 2021 was 28%, indicating that Carpet America Recovery Effort (CARE) could meet its target of 26% for the year, a major program accomplishment.
Holiday Spending Expected to be Strong
New York, NY, December 15, 2021—"Consumer spending has been a primary driver of strong economic growth this year. Retail sales rose nearly 15% in October, from a year earlier, showing low unemployment, rising wages and savings from stimulus payments are giving Americans the capacity to spend more, even when accounting for historically strong inflation,” reports the Wall Street Journal.
Import Prices Rose 0.7% in November; Export Prices Rose 1.0%
Washington, DC, December 15, 2021—Prices for U.S. imports rose 0.7% in November following a 1.5% increase in October, the U.S. Bureau of Labor Statistics reported.
Mortgage Applications Declined 4% in First Full Week of December
Washington, DC, December 15, 2021—Mortgage applications decreased 4.0% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending December 10, 2021.
Shaw Raises $318K for St. Jude at Memphis Marathon Weekend
Dalton, GA, December 15, 2021—On December 4, Shaw celebrated its eighth year running the St. Jude Memphis Marathon Weekend with its largest team ever of 129 Shaw associates, customers, suppliers and partners.