Report: May-Federated Talks Hit Snag
New York, February 1—-According to a report in the Wall Street Journal, price appears to be a prime sticking point in Federated Department Stores’ efforts to acquire May Department Stores.
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Universal Forest 4Q Earnings Up 38%
Grand Rapids, MI, February 1--Universal Forest Products Inc. reported that its fourth-quarter profit rose 38 percent, helped by higher lumber and chemical prices, and the company expects results to improve in 2005.
Lanxess Makes Market Debut
Frankfurt, Germany, February 1--Lanxess AG, the spun-off chemicals and polymers business of German drug maker Bayer AG, made its debut on the Frankfurt stock exchange Monday.
Carpetright Same-Store Sales Decrease 3.8%
Rainham, England, February 1--Carpetright Plc, the U.K.'s largest carpet retailer, said same-store sales have dropped since its second half began as consumer spending has slackened. The shares fell as much as 4.3 percent.
Iranian Carpet Exports Up 140%
Tehran, Iran, February 1—-According to Iran's Customs Administration agency ILNA, machine-made carpets from March-December 2004 went up 140 percent to reach $41.1 million in the same period, while $22 million worth of yarns was exported.
J.C. Penney Closing Utah Call Center
Plano, TX, February 1--A decline in catalog orders made by telephone has led to the closure of a J.C. Penney call center in Bountiful, Utah. As a result, 375 employees are losing their jobs, the company announced Friday.
Capital Expenditures of OSB Manufacturers to Top $
Houston, TX, January 31-- Researched by Industrialinfo.com (Industrial Information Resources Incorporated; Houston). Wood products producers in the U.S. and Canada are planning to invest over $1.1 billion in oriented strand board (OSB) manufacturing asset
U.K. University Developing Smart Floors
London, England, January 31—-Smart floor tiles that sound an alarm when someone falls on them could save lives in fires, according to the Scotsman.com.
Lowe's Announces $1B Share Repurchase Program
Mooresville, NC, January 31--The board of directors of Lowe's approved a share repurchase program of up to $1 billion, effective immediately.
Robbins Gets Jump on Competitors
Cincinnati, OH, January 31--Jay Stoehr calls it "the bomb shelter." But National Basketball Association players and insiders might know it better as the birthplace of their playing courts, according to the Cincinnati Enquirer.