Interface Losses Widen in 2Q
Atlanta, GA, July 27--Interface, Inc. reported a net loss of $7.4 million or $0.14 in the second quarter verses a net loss of $200,000 or break-even earnings per share in the year-ago period.
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.
New Home Sales Up 4%, Break Record
Washington, DC, July 27--New home sales in June rose 4% to a record 1.37 million, as a seasonally adjusted annual rate, according to a Commerce Department report. Sales during the month broke the previous record of 1.32 million, which was set in May.
Home Depot, Lowe's Squeeze Independent Contrac
Minneapolis, MN, July 27--Independent remodeling businesses are being increasingly squeezed by Home Depot and Lowe's.
Congoleum Files Modified Plan of Reorganization
Mercerville, NJ, July 26--Congoleum has filed a modified plan of reorganization and disclosure statement with the Bankruptcy Court to incorporate certain technical modifications to the plan filed in June.
Mohawk Leases Distribution Center in California
Los Angeles, CA, July 26—-ProLogis, a provider of distribution facilities and services, is developing a pre-leased, 849,000-square-foot distribution facility for Mohawk Industries at ProLogis TransPark in Fontana, California.
Existing Home Sales Up 2.7%
Washington, DC, July 25--Existing home sales surpassed market expectations and reached another record in June as low mortgage interest rates and favorable market conditions continued to attract buyers, according to the National Association of Realtors.
Armstrong to Sell Lancaster Distribution Center
Lancaster, PA, July 25—-Armstrong World Industries is offering its flooring distribution center on Spooky Nook Road for sale.
Pergo Reports 2Q Results, Accelerates Improvement
Trelleborg, Sweden, July 22--Pergo reported net sales for the second quarter of 2005 of SEK 717 million ($92.2M) up from the SEK 671 million ($86.3M) reported in the year ago period.
Retailers Hope China Currency Move Will Ease Conce
Washington, DC, July 22--The National Retail Federation yesterday expressed hope that China's decision to revalue its currency will help ease anti-China sentiment in Congress.
China Drops Yuan's Peg to the Dollar
Beijing, China, July 21--China has dropped its policy of pegging its currency to the U.S. dollar, but switched the link to a basket of foreign currencies in a move that could push up the price of Chinese exports to the United States and Europe.