Homebuilder Credit Ratings Near Junk Status
New York, NY, August 22, 2007--Standard & Poor's Ratings Service lowered the credit ratings of four homebuilders due to the nation's slumping housing market.
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.
Congoleum Delays Filing Quarterly Report
Mercerville, NJ, August 20, 2007--Congoleum Corp. today reported that it has not filed its quarterly report for the period ended June 30 because the SEC has not completed its review of the company's financial statements.
Quick•Step Introduces Easy Floor Repair Tool
Dallas, TX, August 21, 2007--Quick•Step has introduced UniFix, a tool that makes laminate floor repairs quick and easy by allowing the removal of a single plank from anywhere in a room.
Forbo Earnings Beat Estimates on European Sales
Zurich, Switzerland, August 21, 2007--Forbo Holdings AG reported an improved first half with net profit of 46.6 million sfr, up from 19.8 million a year ago.
Interface Products Can Help Earn Extra LEED Point
LaGrange, GA, August 17, 2007– InterfaceFLOR’s entire product line can now help earn an extra Leadership in Energy and Environmental Design (LEED) credit because of a recent U.S. Green Building Council (USGBC) ruling on climate neutral products.
Leading Indicators Rise in July
Washington, DC, August 20, 2007--The Conference Board said that the leading index increased 0.4%, the coincident index increased 0.2 % and the lagging index also increased 0.2% in July.
Jobs, Housing Lower Chicago Fed Econ Gauge
Chicago, IL, August 20, 2007--The Federal Reserve Bank of Chicago said its gauge of the national economy was lower in July, hurt by weakness in employment and housing indicators.
Online Buying Rises 6.4% in Quarter
Washington, DC August 20, 2007—The Commerce Department said that retail e-commerce sales for the second quarter increased 6.4% to a seasonally adjusted $33.6 billion, from the first quarter of 2007.
Nearly Half of Americans Say Economy Declining
Rochester, NY, August 20, 2007-- As the volatility continues on Wall Street, a plurality of Americans says the economy is declining while one-third of Americans say, compared to a year ago, their own personal finances have gotten worse.
Lowe's Earnings Balloon 9% on New Store Sales
Mooresville, NC, August 20, 2007--Lowe's reported net earnings in the second quarter that increased 9% to $1.02 billion over the same period a year ago. Earnings per share increased 11.7% to $0.67 verses $0.60 in the second quarter of 2006.