Weyerhaeuser Swings To Loss in Quarter
Federal Way, WA, February 8, 2008--Weyerhaeuser Co. said deteriorating conditions in the U.S. Housing markets contributed to a fourth-quarter loss and the company believes the 2008 will be a difficult year.
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.
D.R. Horton Posts Loss on Land Charges
Fort Worth, TX, February 7, 2008--D.R. Horton Inc. said Thursday it posted to a loss in its fiscal first quarter, due to substantial charges to write off inventory and land values. The nation's largest homebuilder lost $128.8 million in the quarter.
Pending Home Sales Fall in December
Washington, DC, February 7, 2008—Pending U.S. home sales fell 1.5 percent in December.
Solutia Files Complaint Against Exit Lenders
St. Louis, MO, February 6, 2008--Solutia Inc. filed a complaint in the U.S. Bankruptcy Court for the Southern District of New York against the three banks that had agreed to provide $2 billion in exit financing.
Initial Jobless Claims Fall by 22,000
Washington, DC, February 7, 2008—First time jobless claims dropped by 22,000 in the week ended Feb. 2, reversing the trend from the previous week.
Consumers Still Cautious on Discretionary Spending
New York, NY, February 7, 2008--The decrease in consumer spending at the end of last year has apparently continued into 2008, according to Discover Financial Services.
Oil Prices Fall on Inventory Reports
Bangkok, Thailand, February 7, 2008--Oil prices fell Thursday in Asia to under $87 per barrel after the U.S. government reported large jumps in stockpiles of crude, gasoline and heating oil.
Costco Same Store Sales Rise in Month
Issaquah, WA, February 7, 2008-- Costco said same-store sales rose 7 percent in January, led by its overseas operation.
UK's Flowcrete May Be in Sale Talks
Sandbach, England, February 7, 2008--Specialty flooring firm Flowcrete may be for sale, according to published reports.
Carpetright Founder Says Son Will Take His Place
Lord Harris of Peckham, founder of Carpetright, plans to step down as chief executive in a year and install his son at the helm of the flooring retailer.