Existing Home Sales Slid 4.1% in October
Washington, DC, November 21, 2023—Total existing-home fell 4.1% from September to a seasonally adjusted annual rate of 3.79 million in October, according to the National Association of Realtors.
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.
Lowe's Q3 Sales Decline 12.8%, Earnings Rose to $1.8 Billion
Mooresville, NC, November 21, 2023-Lowe’s reported Q3 2023 net sales of $20.5 billion, a 12.8% decline compared to sales of $23.5 billion in the same quarter last year.
Cyncly Opens AI Innovation Center
London, UK, November 21, 2023 – Cyncly, a global provider of software and content solutions, has announced the opening of its AI Innovation Center, an AI strategy and engineering resource that will develop and integrate AI solutions across a range of Cyncly products.
Beaulieu & Lokar with ITR Present Economic Forecast at NAFCD
Colorado Springs, CO, November 17, 2023-Two ITR Economics economists presented at the NAFCD convention in Colorado Springs, Colorado.
Office Sector Landlords Can't Get Loans
New York, NY, November 20, 2023-"The office sector’s credit crunch is intensifying. By one measure, it’s now worse than during the 2008-09 global financial crisis,” reports the Wall Street Journal.
Rick Holden to Retire as COO of Derr Flooring Company
Fort Washington, PA, November 20, 2023—A celebration dinner was held last week in Philadelphia in honor of Rick Holden’s retirement from Derr Flooring Company.
I4F Settles IP Dispute with Complete Floors
Turnhout, Belgium, November 20, 2023-I4F, a group of companies providing patents and technologies to the flooring industry, announced an out-of-court settlement with Australian distributor, Complete Floors and its suppliers.
Housing Starts Rose 1.9% in October
Washington, DC, November 17, 2023— Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,372,000, according to the U.S. Census Bureau, 1.9% above the revised September estimate of 1,346,000 but 4.2% below the October 2022 rate of 1,432,000.
NAFCD Announces New Board & Officers at 2023 Convention
Colorado Springs, CO, November 17, 2023-The North American Association of Floor Covering Distributors (NAFCD) elected new board members and officers at the group’s annual convention, which wrapped up yesterday.
Mohawk Marks Ten Years of Partnership with Tunnels to Towers
Calhoun, GA. November 17, 2023—This week, Mohawk is celebrating a decade of partnership with the Tunnel to Towers Foundation.