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Hoffman Estates, IL, January 28—Sears reported an 86 percent drop in fourth-quarter net earnings Thursday after shedding its profitable credit-card unit a year earlier, its results now solely dependent on sagging retail sales.
Charlotte, NC, January 27--Stark Carpet Corp., will open its new 30,000-square-foot Charlotte facility in February.
London, England, January 27--Iran's carpet exports have declined significantly in the past months, said a senior Persian carpet industry official on Tuesday, expressing serious concern about the downward trend, according to Iranmania.com.
New York, NY, January 27--The nation's retailers added space in the fourth quarter, pushing down vacancy rates in malls and strip malls while driving rents almost 1% higher, according to a new survey.
Washington, DC, January 26--Existing single-family home sales surged in 2004, well above the previous record set in 2003, while the December pace declined from a monthly record in November.
Dallas, Texas, January 26--Homebuilder Centex Corp. reported earnings in the third quarter that rose 28% to $253.8 million, or $1.91 a share, up from $198.7 million, or $1.52 a share, a year earlier.
Lancaster, PA, Jan. 25--A federal bankruptcy judge has allowed Armstrong World Industries to hire a new chief financial officer for more than $800,000.
Hoffman Estates, IL, January 26--Sears, Roebuck and Co. said it would not provide a 2005 profit forecast during its upcoming earnings conference call because of its impending acquisition by Kmart Holdings Corp.
St. Louis, MO, January 26--Citing fierce competition overseas, Solutia said it will close its acrylic fibers business, cutting in half, to 250 people, its work force at an Alabama factory as the company presses to emerge from bankruptcy.
New York, NY, January 26--The Conference Board's Consumer Confidence Index, which had improved in December, edged up in January. The Index now stands at 103.4 (1985=100), up from 102.7 in December.