Sales Rise 10.7% for Lowe's in Q1 but Earnings Fall 46%
Mooresville, NC, May 24, 2017—Lowe's reported net earnings of $602 million Q1 2017, compared to net earnings of $884 million in Q1 2016.
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.
Existing-Home Sales Fell 2.3% in April, Up 1.6% YOY
Washington, DC, May 24, 2017—Total existing-home sales dipped 2.3% to a seasonally adjusted annual rate of 5.57 million in April from a downwardly revised 5.70 million in March. Despite last month's decline, sales are still 1.6% above a year ago and at the fourth highest pace over the past year, according to the National Association of Realtors.
Architecture Billings Index Remains Positive in April
Washington, DC, May 24, 2017—The American Institute of Architects (AIA) reported the April ABI score was 50.9, down from a score of 54.3 in the previous month. This score still reflects an increase in design services.
Armstrong Announces 2016 Elite Retailers of the Year
Lancaster, PA, May 24, 2017—Armstrong Flooring is excited to announce its 2016 Elite Retailers of the Year: gold—Baker Brothers; silver—Riemer Floors; and bronze—WorldWide Wholesale, as well as honorable mentions for United Flooring Group and Floor Covering Associates.
StainMaster PetProtect Makes Emotional Appeal to Pet Owners
Atlanta, GA, May 24, 2017—With its PetProtect flooring, Stainmaster makes an emotional appeal to the country’s nearly 85 million families with pets, hoping to eliminate the fear of occasional pet messes and enable pet owners to feel that no room in the house needs to be off limits. This is important to pet parents, who consider their pets part of the family.
Marazzi Opens First Showroom in London
London, UK, May 24, 2017—Italian brand Marazzi will launch its first showroom in London at the end of May 2017, in the heart of Clerkenwell, one of the most renowned design hubs worldwide.
Jaipur Living Relocating to New Headquarters this Summer
Norcross, GA, May 24, 2017—This summer will see Jaipur Living relocate to its new home in Acworth, Georgia—a $12 million, 180,000-square-foot facility housing the company’s headquarters and distribution center.
Toll Bros. Reports Income Rose 40%, Revenue Rose 22% in Q2
Horsham, PA, May 23, 2017—For its second quarter of FY 2017, Toll Brothers reports net income of $124.6 million, compared to net income of $89.1 million, in FY 2016’s second quarter.
Mohawk Group Products Take Two NYCxDESIGN Awards
New York, NY, May 23, 2017—Mohawk Group captured two product design awards during NYCxDESIGN; Moonscapes broadloom carpet product captured the NYCxDESIGN award in the flooring category, and Homegrown received a #metropolislikes award.
Home Sales Down 11.4% in May, but Still Rise Slightly YOY
Washington, DC, May 23, 2017—Sales of new single-family houses in April 2017 were at a seasonally adjusted annual rate of 569,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 11.4% below the revised March rate of 642,000, but is 0.5% above the April 2016 estimate of 566,000.