Fed Hikes Rates to 3.75%
Washington, DC, September 21--The Federal Reserve raised interest rates again, saying Hurricane Katrina could fuel inflationary pressures but does not pose a persistent threat to the economy.
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.
Home Builder Optimism Edges Down Further In Septem
Washington, DC, September 20, 2005--Home builder optimism in the market for new single-family homes remains in a positive zone this month, albeit with some further erosion from the cyclical high in June, according to the National Association of Home Build
Mohawk Rewards Plus Promotion Enters Peak Earnings
Dalton, GA, September 20, 2005--The “Mohawk Rewards Plus” promotion program is a favorite among retail salespeople for a number of reasons. And Mohawk’s plans for the last quarter of 2005 are likely to make it even more popular.
Chain Store Sales Off Last Week
New York, NY, September 20, 2005--Chain store retail sales dropped significantly in the latest week, as a result of high gasoline prices, ripple effects of Hurricane Katrina and increased consumer concern about the future of the economy, a retail report s
Leggett & Platt Lowers 3Q and Full Year Guidance
Carthage, MO, September 20, 2005--Leggett & Platt said its third quarter earnings are expected to be within the range of $0.30 to $0.35 per share, significantly lower than the $0.42 to $0.47 per share guidance issued in July.
Omnova Posts 3Q Profit
Fairlawn, OH, September 20, 2005--Omnova Solutions Inc. posted a profit in the third quarter profit on a 2 percent jump in sales, but the company still fell short of analyst’s estimates.
Lehman Bros. Initiates Coverage on Mohawk
New York, NY, September 20, 2005--- Lehman Brothers analyst Steven A. Fockens initiated coverage of Mohawk Industries with an "equal-weight" rating. The target price was set at $89.
Report: Domo to Pull out of Chemicals, Focus on Ca
Ghent, Belgium, September 20, 2005-—According to a report in Chemical Week, Domo is planning to pull out of the chemical business to focus on the production of carpets.
Tarkett Commercial Announced Price Increase
Houston, TX, September 20--Tarkett Commercial will initiate a five to seven percent increase on all commercial resilient products effective Monday, October 31, 2005.
Turner Construction Praised in Greening the School
New York, N.Y., September 19, 2005 -- Turner Construction Company, the nation's leading general builder, received an accolade this weekend from former President Clinton at the Clinton Global Initiative Conference, held in New York City.