Retail Sales Rose 0.6% in June, 18% YOY
Washington, DC, July 16, 2021—Advance estimates of U.S. retail and food services sales for June 2021 were $621.3 billion, an increase of 0.6% from the previous month and 18.0% above June 2020.
Today's Flooring News
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Distributive Trade Sales Slid 0.3% in May
Washington, DC, July 16, 2021—The combined value of distributive trade sales and manufacturers’ shipments for May was estimated at $1,615.9 billion, down 0.3% from April 2021, but was up 28.7% from May 2020, according to the U.S. Census Bureau.
Remodel Market Will Continue to Strengthen in Second Half of 2021
Cambridge, MA, July 15, 2021—Annual gains in homeowner improvement and maintenance spending are set to accelerate in the second half of the year and remain elevated through mid-year 2022, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Federal Reserve Expects Inflation to Ease, Says Jerome Powell
Washington, DC, July 15, 2021-“Federal Reserve Chairman Jerome Powell said the central bank wouldn’t hesitate to raise interest rates to keep inflation under control but repeatedly emphasized he still expects price pressures to ease later this year,” reports the Wall Street Journal.
Tarkett Participation Ends Stock Purchase
Paris, FR, July 15, 2021-Tarkett Participation (the “bidder”) announces the final results of the public simplified tender offer on all the Tarkett shares (the “offer”)-published by the Autorité des Marchés Financiers (AMF)-following the closing of the offer on July 9, 2021.
Armstrong Announces Price Increase of 3% to 10% on Select Products
Lancaster, PA, June 25, 2021-Armstrong Flooring will increase prices effective August 15, which are aimed at offsetting rising costs.
CTEF Creates Dan Hecox Service Award, Announces First Winner
Orlando, FL, July 15, 2021-The Ceramic Tile Education Foundation (CTEF) created the Dan Hecox Service Award to be given out annually at Coverings.
Shaw Flooring Network Announces Details of Open on Mainstreet
Dalton, GA, July 15, 2021—Shaw Industries, a subsidiary of Berkshire Hathaway, has announced an upcoming virtual event, SFN Open on Mainstreet, for its Shaw Flooring Network (SFN) of aligned retailers.
Industrial Production Increased 0.4% in June
Washington, DC, July 15, 2021—Industrial production increased 0.4% in June after moving up 0.7% in May, according to the Federal Reserve.
NTCA Announces Awardwinners & Scholarship Recipients
Orlando, FL, July 15, 2021—The National Tile Contractors Association (NTCA) honored numerous members and scholarship winners during a special in-person awards ceremony on Thursday, July 8th at the Coverings trade show held in Orlando, Florida.