Economy Expands 2.5% in Third Quarter
Washington, DC, Oct. 27, 2011 -- The Commerce Department said Thursday that the economy expanded at an annual rate of 2.5% in the third quarter, almost double the 1.3% growth in the second quarter.
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.
Lumber Liquidators Reports Higher 3Q Profit, Sales
Toano, VA, Oct. 27, 2011 -- Hardwood flooring retailer Lumber Liquidators said third quarter net income increased 57.2% to $6.7 million, or $0.24 per share, in the third quarter compared to $4.3 million, or $0.15 per share a year ago.
Interface Reports Higher Sales, Flat Earnings
Atlanta, GA, Oct. 27, 2011 -- Interface reported third quarter net income of $12.2 million, or $0.19 per share, compared with net income of $12.1 million, or $0.19 per share, in the third quarter of 2010.
Pending Home Sales Decline in September
Washington, DC, Oct. 27, 2011 -- Pending homes sales unexpectedly fell in September, according to the National Association of Realtors.
Bamboo Hardwoods Gets New Owner, Strategy
Seattle, WA, Oct. 27, 2011 -- Flooring firm Bamboo Hardwoods said it is closing its retail operations and becoming exclusively a wholesaler of bamboo flooring and related products.
Initial Jobless Claims Tick Lower
Washington, DC, Oct. 27, 2011 -- Initial claims for unemployment benefits fell slightly last week, according to the Labor Department.
Interface Names Hendrix Chairman of Board
Atlanta, GA, Oct. 27, 2011 -- Interface announced that Daniel T. Hendrix has been elected Chairman of the board of directors.
Homebuilder Pulte Narrows Loss in Third Quarter
Bloomfield Hills, MI, Oct. 27, 2011 -- PulteGroup Inc , the second largest U.S. homebuilder, reported a third-quarter net loss of $129.3 million, or $0.34 a share, compared with loss of $995.1 million, or $2.63 a share, a year ago.
InterfaceFlor in European Recycling Arrangement
The Netherlands, Oct. 27, 2011 -- Modular flooring manufacturer InterfaceFlor has signed a pan-European carpet-tile recycling agreement with waste management specialist SITA.
New Home Sales Pace Hits Six-Month High
Washington, DC, Oct. 26, 2011 -- New home sales sales increased 5.7% to a seasonally adjusted 313,000-unit annual rate, the Commerce Department said.