Dossche Steps Down as President of Huali US, Philip Yuan Assumes Role
Chatsworth, GA, November 4, 2022—Huali Group US announced that Julian Dossche will be stepping down as the company’s president.
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.
Xpress Global Systems Relocating New Orleans Distribution Facility
Chattanooga, TN, November 7, 2022—Xpress Global Systems (XGS) has moved its New Orleans, Louisiana distribution facility.
Holiday Shoppers May Skip the Splurge Due to Inflation, Economic Worries
New York, NY, November 7, 2022—Many shoppers are trading down to less expensive clothing and accessories as inflation eats into their disposable income and a rocky stock market erodes their wealth, reports the Wall Street Journal.
Interface Sales Rose 4.8% in Q3, Earnings Up 28%
Atlanta, GA, November 4, 2022—Interface reported Q3 2022 net sales of $327.8 million, a 4.8% increase compared to Q3 2021’s $312.7 million.
Cali Opens East Coast Distribution Center
Summerville, SC, November 4, 2022-Cali cut the ribbon on its first custom-built distribution center yesterday in Summerville, South Carolina.
DHA Will Lobby to Maintain Chinese Tariffs on Engineered Hardwood
Washington, DC, November 4, 2022-The Office of the U.S. Trade Representative is requesting comments for their four-year review of the Section 301 tariffs on Chinese imports-including the 25% tariffs on hardwood plywood and engineered wood flooring, reports the Decorative Hardwoods Association (DHA).
Americans Moving Farther from Metro Areas to Purchase Homes
Washington, DC, November 4, 2022—"The rise of remote work and the ballooning cost of housing in major metro areas are leading Americans to move much farther away when buying a home,” reports the Wall Street Journal.
Employment Rose by 261,000 Jobs in October, Unemployment Up to 3.7%
Washington, DC, November 4, 2022-Total nonfarm payroll employment increased by 261,000 in October, and the unemployment rate rose to 3.7%, the U.S. Bureau of Labor Statistics reported.
Lowe's to Sell Canadian Retail Business to Sycamore Partners
Mooresville, NC, November 4, 2022—Lowe's Companies has entered into a definitive agreement to sell its Canadian retail business to Sycamore Partners, a private equity firm specializing in retail, consumer and distribution-related investments, for $400 million in cash and performance-based deferred consideration.
Dixie Group Reports 20% Sales Decline in Q3, Net Loss of $7.2M
Dalton, GA, November 3, 2022-The Dixie Group reported net sales of $71.8 million for Q3 2022, a 20% decline compared to net sales of $89.3 million in the same period last year.