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.
Troy, MI, Jan. 20--Kmart Corp. has fired the five remaining executives who received millions in retention loans just months before the retailer filed for bankruptcy protection and demanded that all 25 recipients repay the $28 million.
Eglisau, Switzerland, Jan. 17--Forbo will consolidate its two separate business units, linoleum and vinyl, into one business. Consequently, the flooring business will operate in all markets worldwide under the designation and logo of Forbo Flooring.
Cincinnati, OH, Jan. 17--Federated Department Stores plans to close 11 stores and cut nearly 2,000 jobs as it anticipates flat sales and income this year.
Washington, DC, Jan. 16--Consumer inflation rose only 0.1% in December as the lackluster economy had the effect of holding prices in line, creating a healthier climate for shoppers.
Atlanta, GA, Jan. 17--Home Depot will increase capital spending 21% to $4 billion in fiscal 2003 to enhance the customer's shopping experience and reinvigorate sales performance.
St. Louis, MO, Jan. 16--In an effort to bring new technology, products, and programs to the contract carpet market, Solutia Inc. is expanding its Partners for Renewal program to formally recognize and work with companies, like Nylon Board Manufacturing of
Portland, OR, Jan. 16--Columbia Forest Products has reached an exclusive agreement with Halex Corporation to head up North American sales of Columbia’s Multiply hardwood plywood flooring underlayment to the wholesale flooring distribution segment.
Troy, MI, Jan. 15-Kmart plans to close 326 stores and cut 37,000 jobs as part of a plan to pull itself out of bankruptcy by the end of April. If the bankruptcy court approves the store closings, Kmart will have about 1,500 stores, a third less than when i
Wilmington, DE, Jan. 15--DuPont expects reported earnings for the fourth quarter 2002 to be between $.31 and $.33 per share, slightly below the company's initial outlook. The net impact of special items for the quarter is expected to be immaterial.
Washington, DC, Jan. 14--Wholesale prices were flat in December as falling prices for cars, computers and telephone equipment offset higher prices for gasoline and other energy products.