Vornado to Back Sears-Kmart Deal
Paramus, NJ, March 22--Vornado Realty Trust said it would support Kmart's $12 billion acquisition of Sears, quashing speculation the real estate company would make its own bid for the struggling department store.
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.
UK Carpetmaker Hugh Mackay in Administration
Durham, England, March 22--The firm has made carpets for palaces and leading hotels, but now one of the country's leading carpet makers has put its factory in Durham into administration, according to the BBC.
Lennar's 1Q Earnings Up 39%
Miami, FL, March 22—-Homebuilder Lennar Corp. said Tuesday that first-quarter earnings grew 39 percent year-over-year, as pricing power in land-constrained markets drove strong margins.
Producer Prices Up 0.4%
Washington, DC, March 22—-The producer price index rose 0.4 percent in February helped by a jump in energy prices, according to the Labor Department.
Chain Store Sales Up 0.2% Last Week
Washington, DC, March 22—-Chain store sales increased 0.2 percent last week, according to data released Tuesday by the International Council of Shopping Centers and UBS.
Georgia May Permit Logging River Bottoms
Cairo, GA, March 22--A century after loggers stopped using Georgia's rivers to move their product, the state Legislature is considering a bill to let divers extract sinkers.
Research and Markets Offers Info on Chinese Market
Dublin, Ireland, March 22--Research and Markets has announced the addition of Chinese Markets for Building Materials 2005 to their offering.
Wal-Mart Forecasts March Sales Growth
Bentonville, AR, March 21--Wal-Mart estimated its March same-store sales would show a similar or greater rate of growth than in February, when sales at U.S. stores open at least a year increased 4.1 percent.
Pakistani Carpet Exports Set to Reach $235M This Y
Lahore, Pakistan, March 21--Pakistan's carpet exports are likely to touch the mark of US$235 million during the year 2004-05 against last fiscal year's $222 million.
Flooring Zone Owner Seeks Investors
Ponte Vedra Beach, FL, March 21--It's not easy asking for $20 million, but Jimmy Lee had the best possible setting for his March 16 pitch, according to the Jacksonville Business Journal.