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.

WSJ: Federated & May End Merger Talks

New York, NY, February 15--Merger talks between Federated Department Stores and May Department Stores broke down after the two companies could not agree on the price, according to a report in the Wall Street Journal.

Lennar Acquires Urban Redevelopment Properties in

Miami, FL, February 15--Lennar Corporation and Roseland Property Company announced that Lennar will acquire a portfolio of 15 properties located along the Hudson River waterfront facing mid-town Manhattan and in the greater Boston area.

Retail Sales Off in January

Washington, DC, February 15--Retail sales declined 0.3 percent in January as automobile sales dropped sharply, according to a report from the Commerce Department.

Mohawk’s 4Q Earnings Inch Up

Calhoun, GA, February 15--Mohawk Industries announced net earnings in the fourth quarter of 2004 of $102.5 million and diluted earnings per share (EPS) of $1.52 for the fourth quarter of 2004.

Mannington Expanding Operations in High Point

High Point, NC, February 14--Mannington Mills Inc. is embarking on its fifth expansion in the past nine years at its High Point factories that make wood floor panels, according to the Triad Business Journal.

Pergo Reports Year-End Results

Trelleborg, Sweden, February 14—-Pergo issued its year-end report, for the twelve months ended December 31, 2004. In 2004 net sales totaled SEK 2,780 million (2,799) ($396.7M), a 6% rise compared with 2003, excluding currency effects.

Surfaces a Success for Beaulieu’s New Product Roll

Dalton, GA, February 11--Beaulieu of America unveiled a wide selection of new products at Surfaces 2005. Among the new introductions was a collection of products called Carefree Living, crafted from a new Beaulieu yarn system.

Condo Sales Break Annual Record

Washington, DC, February 11--Sales of existing condominiums and cooperatives hit their ninth consecutive annual record in 2004, while the pace of sales activity in the fourth quarter eased but remained the third highest quarter on record.

Pergo Begins Job Cut Procedures in Sweden

Trelleborg, Sweden, February 10—-Pergo has started Swedish Codetermination Act negotiations at the Perstorp site about letting 60 employees go as part of its restructuring project.