Today's Flooring News

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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.

Hovnanian Cuts 2Q Guidance

Red Bank, NJ, May 2, 2006--Home builder Hovnanian Enterprises Inc., slashed its second-quarter and full-year outlook on Monday, citing slowing sales, production delays and increased use of concessions and incentives.

New Cleaning Products Get CRI Approval

Dalton, GA, May 2, 2006—A total of seven new cleaning solutions have earned a designation as CRI Seal of Approval certified products after passing a series of stringent tests performed by an independent laboratory.

Layoffs Down in April

Chicago, IL, May 2, 2006--Employers in April, for the fourth consecutive month, planned fewer job cuts than in the preceding 4-week period.

Layoffs at Memphis Hardwood Flooring

Memphis, TN, May 2, 2006--According to the Memphis Business Journal, Memphis Hardwood Flooring Company Inc., recently laid off 112 of its 450 employees.

Pier 1 Drops on Downgrade

New York, NY, May 2, 2006--Pier 1 Imports Inc., shares slumped on Monday, weighed by a bearish note from Lehman Brothers saying sharply higher energy prices would pressure the retailer's budget-minded customers.

Sears Defends offer for Sears Canada

Hoffman Estates, IL, May 2, 2006--Sears Holdings Corp., denied that shareholders Scotia Capital and Bank of Nova Scotia, which backed its plan to completely acquire Sears Canada, were acting on its behalf.

USG Joins Environmental Alliance

Chicago, IL, May 2, 2006--Leading building materials manufacturer USG Corporation has joined the Alliance for Sustainable Built Environments.