NAR Says 2Q Existing Home Sales Set Record
Washington, August 13 --Strong housing market fundamentals propelled total existing-home sales to the highest pace on record in the second quarter, according to the National Association of Realtors.
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Retail Sales Up 0.7% in July
Washington, August 12--Retail sales rose 0.7% in July, the Commerce Department reported. June sales were revised to a 0.5% drop from the initial estimate of a 1.1% decline.
S&P Rates Collins & Aikman $400M Notes B-, Outlook
New York, August 9-- Standard & Poor's Ratings Services has assigned its 'B-' rating to Troy, Mich.-based Collins & Aikman Products Co.'s proposed $400 million senior subordinated notes due 2012.
Kmart Updates Home Depot Transaction
Troy, MI, August 10—Kmart has updated its previously announced transaction with The Home Depot.
ITW Names Speer President
Glenview, IL, August 9-- Illinois Tool Works has named David B. Speer, 53, president. In his new role, Speer will continue to report to chairman and chief executive officer W. James Farrell.
Housing Affordability Dips in 2Q
Washington, August 4--Housing affordability conditions remained favorable during the second quarter, but rising interest rates and higher home prices mean affordability declined from the second-highest level in 21 years during the first quarter.
Economy Expected to Gain Momentum in 2nd Half
New York, August 2--Many economists expect the U.S. economy to regain momentum after slowing in the second quarter, but those forecasts hinge on a fall in energy prices that so far has proved elusive.
Sears Holds 'Grand' Opening in Las Vegas
Las Vegas, July 27--From milk to refrigerators, shoppers are in for a new kind of shopping experience at Sears Grand in Las Vegas, Nev.
Mohawk Cushion Offers Value-Added Features
Dalton, GA, July 15--Mohawk carpet cushion products give retailers plenty of merchandising and step-up sales opportunities, with strong value-added features including life-of-the-home warranties.
May Calls Off Buybacks
St. Louis, MO, July 15--May Department Stores is suspending indefinitely its $500 million share-buyback program, the company said Wednesday.