Today's Flooring News

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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.

Federated Raises 2Q Outlook

Cincinnati, OH, May 16, 2006--Federated Department Stores raised its second-quarter financial forecast by $0.33 per share, due to a favorable tax settlement with the Internal Revenue Service.

Saks 1Q Earnings Up on One-Time Gain

Birmingham, AL, May 16, 2006--Saks Inc. reported net income in the first quarter that rose to $81.5 million, or $0.60 per share, from $16.2 million, or $0.11 per share, a year ago.

Producer Prices Rise 0.9%

Washington, DC, May 16, 2006--Producer prices rose 0.9% in April, led by higher energy costs, but prices outside of energy were well contained, according to Labor Department data released Tuesday.

Chain Store Sales Unchanged Last Week

New York, NY, May 16, 2006--Chain store sales were unchanged in the latest week as spending ahead of Mother's Day offset cool, wet weather and rising gasoline prices, according to a report on Tuesday.

Wal-Mart 1Q Earnings Up

Bentonville, AR, May 16, 2006--Wal-Mart Stores eported a stronger-than-expected 6.3% increase in first-quarter profit on sales in line with Wall Street's consensus estimate.

Builder Confidence Declines In May

Washington, DC, May 16, 2006--Rising mortgage rates, deepening affordability issues and the retreat of investors/speculators from the marketplace are prompting single-family home builders to further adjust their perspectives on the new-home market.

ServiceMaster CEO Resigns

Downers Grove, IL, May 16, 2006--ServiceMaster Co., said that its chairman and chief executive, Jonathan Ward, has resigned.