Like Lowe's, Home Depot Earnings Slide Sharply
Atlanta, GA, February 26, 2008--Earnings for The Home Depot fell 27 percent in the fourth quarter compared to a year ago, the company reported.
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.
Solutia, Banks Reach Agreement on Financing
St. Louis, MO, February 26, 2008--Solutia Inc. on Monday said it will be able to emerge from Chapter 11 bankruptcy on Feb. 28 after it reached an agreement Monday with lenders on its exit financing package.
Consumer Confidence at Lowest Level in 14 Years
Washington, DC, February 26, 2008--Consumer confidence dropped sharply in February to the lowest level in more than 14 years, according to the Conference Board.
INSTALL Gets Sports Artificial Surface Training
Chicago, IL, February 25, 2008 –Three INSTALL regions converged at the Chicago Regional Carpenters Training Center in Elk Grove Village for installation training in sports and recreation artificial surfaces.
Foreclosures Soar in January Compared to Last Year
Irvine, CA, February 26, 2008--The number of homes facing foreclosure jumped 57 percent in January.
December Decline in Home Prices Sets a Record
New York, NY, February 26, 2008--Home prices fell in December by the most on record, according to the S&P/Case-Shiller home-price index.
Samling To Acquire Chinese Hardwood Maker
Hong Kong, China, February 26, 2008--Timber firm Samling Global Ltd said it will acquire Elegant Living (HK) Ltd, Elegant Living International Holding Ltd and New Elegant Living Timber Manufacturing (Zhongshan) Ltd for $38.3 million
Wholesale Price Jump 1% in January
Washington, DC, February 26, 2008 – Wholesale inflation soared 1 percent in January due to higher costs for food, energy and medicine, according to the Labor Department.
South African Flooring Firm on Acquisition Trail
Johannesburg, South Africa, February 26, 2008--Resilient and rubber flooring maker Safic Holdings is on the acquisition trail as it plans to benefit from increased government infrastructure spending and exports to other African countries this year.
Lowe's Earnings Plummet in Fourth Quarter
Mooresville, N.C., February 25, 2008-- Lowe's said fourth quarter earnings declined 33.4 percent over a year ago. The world's second largest home improvement retailer reported net earnings of $408 million for the quarter ended Feb. 1.