Federated Raises 2Q Outlook
Cincinnati, OH, May 16, 2006--Federated Department Stores raised its second-quarter financial forecast by $0.33 per share, due to a favorable tax settlement with the Internal Revenue Service.
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.
Chain Store Sales Unchanged Last Week
New York, NY, May 16, 2006--Chain store sales were unchanged in the latest week as spending ahead of Mother's Day offset cool, wet weather and rising gasoline prices, according to a report on Tuesday.
Housing Starts Off in April
Washington, DC, May 16, 2006--Housing starts fell 7.4% in April to a seasonally adjusted 1.85 million annualized units, according to the Commerce Department.
Dixie Cranks Up New Plant
Eton, GA, May 15, 2005--According to a the Chattanooga Times, the problem Dan Frierson had a year ago was one any CEO would envy--his carpet company, The Dixie Group, had too much business.
Domotex Middle East Sells Out
Dubai, United Arab Emirates, May 15, 2006--Domotex, Middle East, the specialist carpets and flooring trade show due to debut in Dubai this May, has sold out within just months of its launch.
Iran Loses Major Share of Carpet Market
Tehran, Iran, May 15, 2006--According to Tehran Times, lack of quality and production control has cost Iran an eighty percent loss in Afghanistan's carpet market, said a textile industry official.
Interface Rallies on Upgrade
New York, NY, May 15, 2006--Interface Inc., shares rallied on Monday, after brokerage Raymond James upgraded its rating on the company, calling a recent sell-off of its shares unjustified.
May Empire State Index Slips
Washington, DC, May 15, 2006--Manufacturing activity in the New York area expanded at a slower pace in May, the New York Federal Reserve Bank said Monday.
Target 1Q Earnings Up
Minneapolis, MN, May 15, 2006--Target Corp., posted a 12 percent increase in first quarterly earnings, helped by strong Easter holiday and spring season sales, and big gains from its credit card business.
Metro Home Prices Begin to Cool but Appreciation R
Washington, DC, May 15, 2006--The growth in single-family home prices continued to cool in the first quarter, but many metropolitan areas are still showing double-digit annual gains, according to the latest survey by National Association of Realtors.