Kmart Posts Loss of $3.2 Billion in '02, Bank
Troy, MI, Mar. 24--Kmart Corp. reported a loss of $3.22 billion for last fiscal year, hit by massive restructuring and store-closing costs in the aftermath of its bankruptcy filing.
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February Existing-Home Sales Ease From Record
Washington, Mar. 25--Sales of existing single-family homes declined last month from a record pace in January, but were still at the fourth highest pace since record keeping began in 1968, according to the National Association of Realtors.
Foamex Reports Sales up
Linwood, PA,Mar.25, 2003--Foamex International announced its 2002 fourth quarter and full-year financial results.
Hotel Demand Seen Dropping
Los Angeles, Mar. 24--Demand for U.S. hotel rooms would likely drop 5 percent -- more than previously expected -- if the war in Iraq ends quickly, according to an industry forecast issued shortly after the launch of a U.S.-led attack on Baghdad.
Mohawk Lowers Estimates
Calhoun, GA, Mar. 17--Mohawk Industries has updated its first and second quarter 2003 earnings estimates. In its 2002 fourth quarter earnings release, the company indicated concern about weakening conditions in its markets.
The Dixie Group Completes Financing
Chattanooga, TN, Mar. 17--The Dixie Group issued $37.0 million of senior term notes, due May 2007, amended its senior credit facility, and settled the $50.0 million obligation that was due in April to the former shareholders of Fabrica.
Armstrong Amends Chapter 11 Documents
Lancaster, PA, Mar. 14--Armstrong World Industries has filed an amended Plan of Reorganization (POR) and proposed Disclosure Statement in its Chapter 11 reorganization case with the U.S. Bankruptcy Court in Wilmington, Delaware.
Home Depot Sticks With Estimates
Atlanta, GA, Mar. 17-Home Depot expects to meet its sales target for 2003 despite the prospect of a U.S. war against Iraq.
China Develops New Type of Ceramic
Beijing, China, Mar. 12--A new high tech ceramic tile that China hopes will replace traditional tile will soon be released on the international and domestic market.
Domco Tarkett’s Yearly Earnings Rise
Farnham, Quebec, Mar. 13--During the fiscal year ended December 31, Domco Tarkett Inc. recorded net earnings of $16.0 million or $0.63 per share, up from $8.2 million or $0.32 for the previous year, an increase of 95.5%.