3M's Earnings Up 22 Percent
St. Paul, MN, Oct. 20- 3M Co.'s third-quarter profit rose 22%, driven by cost-cutting measures and improved productivity as six of its seven businesses saw higher sales volumes.
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.
Louisiana-Pacific Sells Timberland for $290 Millio
Portland, OR, Oct. 20--Louisiana-Pacific Corp. sold about 463,000 acres of timberland located in southeast Texas for $290 million, bringing to a close the timberland portion of its divestiture program.
Leading Indicators Decline
New York, Oct 20--An index designed to foreshadow movements in overall economic growth slipped in September, suggesting that the U.S. economic recovery has slowed from its red-hot third-quarter pace, but isn't about to stall, as reported in the Wall S
North Carolina Lawmakers Scope Out High Point Mark
High Point, NC, Oct. 21--State legislators strolled through High Point's three largest showrooms Friday at the International Home Furnishings Market according to the High Point Enterprise.
Armstrong Offers Employee Stock Ownership Settleme
Lancaster, PA, Oct. 17--Armstrong World Industries Inc. has agreed to pay $1.5 million to end a two-year dispute with the U.S. Department of Labor over the company's employee stock ownership plan, an Armstrong filing says.
Federated To Close Ohio Store
Cincinnati, OH, Oct. 17--Federated Department Stores Inc. plans to close its Lazarus-Macy's store in downtown Columbus, Ohio in August, and write down the assets in its third-quarter results. The writedown is expected to be about $12 million.
Reclaimed Wood Flooring Firm Signs Licensing Agree
Novato, CA, Oct. 20--Smith & Hawken, America's premier garden lifestyle retailer, announced today it has signed its first licensing agreement with TerraMai, a California-based manufacturer of reclaimed wood flooring and decking systems.
Former Executives' Case Spotlights Kmart's
Troy, MI, Oct. 18--Prosecutors say Enio (Tony) Montini Jr. and Joseph Hofmeister conspired to cook Kmart's books.
Sears' Profits Fall
Hoffman Estates, IL, Oct. 16--Sears, Roebuck and Co. posted higher same-store sales for the first time in more than two years, but third-quarter profits fell 22 percent on a whopping cost to overhaul its Great Indoors home decor stores.
Kmart Keeps Martha In New Ads
Troy, MI, Oct. 17--Discount retailer Kmart will launch its first new advertising campaign this weekend since emerging from bankruptcy, and style guru Martha Stewart's collection will get prominent play despite her high-profile legal woes.