Report: May-Federated Talks Hit Snag
New York, February 1—-According to a report in the Wall Street Journal, price appears to be a prime sticking point in Federated Department Stores’ efforts to acquire May Department Stores.
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Universal Forest 4Q Earnings Up 38%
Grand Rapids, MI, February 1--Universal Forest Products Inc. reported that its fourth-quarter profit rose 38 percent, helped by higher lumber and chemical prices, and the company expects results to improve in 2005.
U.K. University Developing Smart Floors
London, England, January 31—-Smart floor tiles that sound an alarm when someone falls on them could save lives in fires, according to the Scotsman.com.
Robbins Gets Jump on Competitors
Cincinnati, OH, January 31--Jay Stoehr calls it "the bomb shelter." But National Basketball Association players and insiders might know it better as the birthplace of their playing courts, according to the Cincinnati Enquirer.
Niblock Named Lowe's Chairman, President & CEO
Mooresvillle, NC, January 31--Lowe's announced that company president Robert A. Niblock has assumed the additional roles of chairman and chief executive officer.
Capital Expenditures of OSB Manufacturers to Top $
Houston, TX, January 31-- Researched by Industrialinfo.com (Industrial Information Resources Incorporated; Houston). Wood products producers in the U.S. and Canada are planning to invest over $1.1 billion in oriented strand board (OSB) manufacturing asset
Lowe's Announces $1B Share Repurchase Program
Mooresville, NC, January 31--The board of directors of Lowe's approved a share repurchase program of up to $1 billion, effective immediately.
Durable Goods Orders up 0.6% in December
Washington, DC, January 27—-Durable goods orders increased 0.6 percent in December, despite large declines in civilian aircraft and defense goods, the Commerce Department said Thursday.
Sears 4Q Earnings Off 86%
Hoffman Estates, IL, January 28—Sears reported an 86 percent drop in fourth-quarter net earnings Thursday after shedding its profitable credit-card unit a year earlier, its results now solely dependent on sagging retail sales.
Help Wanted Index Up 2 Points
New York, January 28--The Conference Board’s Help-Wanted Advertising Index – a key barometer of America's job market – increased two points in December.