Lear 1Q Earnings Off 7%
Southfield, MI, January 28--Lear Corp., the maker of automotive carpet and interiors, said earnings in the latest quarter fell 7 percent from a year earlier, hurt mainly by higher raw-material prices.
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.
Shopping-Mall Vacancy Rates Decline to 5.3%
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.
Iran's Carpet Revenues Declining
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.
Stark Carpet Opens in Charlotte
Charlotte, NC, January 27--Stark Carpet Corp., will open its new 30,000-square-foot Charlotte facility in February.
Solutia Dropping Acrylics Business
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.
Consumer Confidence Index Edges Up in January
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.
Judge Approves Armstrong Naming New CFO
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.
Sears Will Not Provide Forecasts in 2005
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.
Existing-Home Sales Off in December, Set Record in
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.
Centex 3Q Earnings Up 28%
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.