Housing Starts Up
Washington, DC, Dec. 17--U.S. housing starts rose 2.4% in November, only partially reversing a big slide the month before, as low mortgage rates lured buyers.
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.
Nordstjernan to Acquire Ownership Interest in Vali
Stockholm, Sweden, Dec. 12--Nordstjernan AB (Nordstjernan) has reached an agreement with the Pervan family to acquire an ownership interest in Valinge Holding AB 1 (Valinge), which is the parent company of Valinge Aluminium AB (Valinge Aluminium).
ServiceMaster To Elect New Board Members
Downers Grove, IL, Dec. 18--ServiceMaster's Board of directors will elect two new board members, Betty Jane Scheihing and Roberto R. Herencia, at its upcoming January meeting.
Ecommerce Comes to Flooring Industry
Dalton, GA, Dec. 13--The floorcovering industry continues to capitalize on the growth of the Internet to simplify the way business gets done.
Kmart Shares Delisted
Troy, MI, Dec. 19--Bankrupt retailer Kmart Corp.'s shares will begin trading on the Pink Sheets electronic quotation system on Thursday under the symbol "KMRTQ.PK", ending an 84 year run on the New York Stock Exchange.
UK Carpetright Profits Rise
London, England, Dec. 17--Britain's biggest floorcovering retailer, Carpetright Plc posted a 15.7% rise in first half profit and reported slowing same store sales growth at the start of the second half.
AFA Forms Communication Partnership
Dalton, GA, Dec. 18--The American Floorcovering Alliance (AFA) has formed a marketing relationship with Atlanta based LecStar Telecom, Inc.
Flooring America Names New Advisory Council Member
Manchester, NH, Dec. 13--Flooring America has named five new members to its Advisory Council.
Lowe¹s Poised To Expand
Wilkesboro, NC, Dec. 18--Lowe's, which is adding about 60 stores in the greater New York area over the next several years, will spend $80 million to $100 million to add five stores and improve existing ones in northern New Jersey.
Wholesale Prices Drop
Washington, DC, Dec. 13--Wholesale prices dropped 0.4% in November, the biggest decline in six months. The sizable drop in the Producer Price Index, which measures prices of goods before they reach consumers, came after wholesale prices jumped 1.1% in Oct