Home Depot Sales Down 2.3% YOY in Q1, Earnings Down 7%
Atlanta, GA, May 14, 2024-The Home Depot reported sales of $36.4 billion for Q1 2024, a decrease of 2.3% from Q1 2023’s $37.3 million.
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.
Live Ventures Sales Rose 30.2% in Q1, Largely Due to Acquisitions
Las Vegas, NV, May 14, 2024-Live Ventures-owner of Marquis Industries and Flooring Liquidators-reported net revenue of $118.6 million for Q1 2024, a 30.2% increase compared to $91.1 million in the prior year period.
Small Business Optimism Rose to 89.7 in April
Washington, DC, May 14, 2024—NFIB’s Small Business Optimism Index rose by 1.2 points in April to 89.7, marking the first increase of this year but the 28th consecutive month below the 50-year average of 98.
Construction Backlog Indicator Rose to 8.4 Months in April
Washington, DC, May 14—Associated Builders and Contractors reported that its Construction Backlog Indicator increased to 8.4 months in April, according to an ABC member survey conducted April 22 to May 6. The reading is down 0.5 months from April 2023, but expanded 0.2 months from the prior month.
93,000 Build-to-Rent Homes Completed in 2023
New York, NY, May 14, 2024-"Developers are building new houses for rent at an unprecedented rate, aiming to capitalize on the steep home prices and higher mortgage rates that are forcing many Americans to keep renting,” reports the Wall Street Journal.
Low-Income Homebuyers Lose Ground Gained in Low-Interest Era
Charlotte, NC, May 14, 2024-"Many low-income homebuyers were able to take advantage of historically low mortgage rates during the Covid era, increasing their share of the total mortgage market to 23.2%,” reports Truist.
Flooring Firms Omitted from '24 Most Trustworthy Companies List
New York, NY, May 14, 2024-Newsweek has released its 2024 Most Trustworthy Companies in America list.
WFCA to Offer SEAL Leadership Development Program in June
Dalton, GA, May 14, 2024—The World Floor Covering Association (WFCA) has announced the upcoming session of its SEAL (Seeking Excellence As Leaders) Leadership Development and Certification Program, starting June 3.
Diverzify Agrees to Acquire Continental Office's Flooring Business
Atlanta, GA, May 13, 2024-Diverzify has agreed to acquire Continental Office's flooring business, based in Columbus, Ohio.
Over 90% of Metro Markets Posted Home Price Gains in Q1 2024
Washington, DC, May 13, 2024—More than 90% of metro markets (205 out of 221, or 93%) posted home price gains in the first quarter of 2024, as the 30-year fixed mortgage rate ranged from 6.60% to 6.94%, according to the National Association of Realtors' latest quarterly report.