Mystery Buyer Bids for Stoddard
London, England, February 2--A mystery buyer has launched a last-minute bid to save Scotland's oldest carpet manufacturer, according to the Glasgow Evening Times.
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.
Defendant Companies Oppose Draft Asbestos Bill
Washington, DC, February 2--A group of asbestos defendant companies and insurers has declared its opposition to a Senate proposal curbing asbestos claims, and warned that industry groups working on the plan do not necessarily represent them.
Georgia-Pacific 4Q Earnings Off
Atlanta, GA, February 1--Georgia-Pacific reported its fourth-quarter net profit fell by almost half, after it increased funds to cover asbestos lawsuits.
Leggett & Platt 4Q Earnings Up 11%
Carthage, OH, February 1--Leggett & Platt posted an 11 percent increase in fourth-quarter earnings, driven by on asset sales, a lower tax rate, sales growth and full production at its steel mill.
Chain Store Sales Off 1.9% Last Week
New York, NY, February 1--The International Council of Shopping Centers-UBS Retail Chain Store Sales Index plunged by 1.9% in the week ended Jan. 29 from the week before, on a seasonally adjusted, comparable-store basis, according to data released Tuesday
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.
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.