Producer Prices Up
Washington, DC, May 13--U.S. inflation in the production pipeline stayed mild last month despite strong economic growth, validating the Federal Reserve's view that it will not need to raise interest rates rapidly this 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.
Sears Sees Potential for 500 Sears Grand Stores
Hoffman Estates, IL, May 13--Sears, Roebuck and Co., which until now has announced plans for only five freestanding Sears Grand discount stores, now believes its new off-mall format has the potential for up to 500 locations.
Retail Sales Fall in April
Washington, DC, May 13--Retail sales retreated more than expected during April, pulled back by an auto sector decline.
Oil Prices Crimp Profits for Carpet Industry
New York, NY, May 12--According to a report from Reuters a rapid surge in oil prices has pulled the rug out from under the U.S. carpet industry.
Armstrong DD GrassMaster Gets Olympic Workout
Lancaster, PA, May 13--The 2004 Olympic Games’ football (soccer) competitions scheduled in the Panthessaliko Stadium in Volos, Greece will play out on DD GrassMaster.
Armstrong Wins Golden Hammer Award
Lancaster, PA, May 12--Armstrong Flooring, the leading manufacturer of resilient, hardwood, laminate and ceramic floor products for the professional and retail markets is a Golden Hammer Award winner for the third consecutive year.
Wal-Mart's Earnings Rise
Bentonville, AR, May 13--Wal-Mart on Thursday reported a 16% increase in earnings for the latest quarter on a 14% rise in sales.
Federated Profit Jumps
Cincinnati, OH, May 12--Federated Department Stores reported better-than-expected quarterly earnings as it sold more full-priced spring clothing and kept costs in check, and raised its forecasts for the rest of the year.
Robert De Monaco, Karastan Veteran, Dies
New York, NY, May 11--Robert De Monaco, a veteran of the carpet industry for nearly half a century, including several decades with Karastan, has died on April 28.
May Department Stores' Earnings Up Slightly
St. Louis, MO, May 11--May Department Stores Co. said its first-quarter net income rose 5.6%, helped by brisk sales of women's accessories, footwear and apparel.