Retail Sales Surprisingly Strong
New York, NY, Aug. 8--Retailers finally got a break in July as warm weather and heavy discounting helped lift sales above expectations for many merchants, even the struggling department store sector.
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.
Burlington Posts Loss
Greensboro, NC, August 6--Textile company Burlington Industries Inc. reported Wednesday a narrower net loss of 5 cents a share for the third quarter ended June 28, compared with a loss of 21 cents a share for the same period a year earlier.
Home Depot may be victim of bid-rigging
Atlanta, August 6--Home Depot, the world's biggest home improvement chain, may have been the victim of an improper bidding process now under investigation by the U.S. Department of Justice, a regulatory filing said.
Service Sector Posts Biggest Gain In Six Years
New York, NY, Aug. 6--Economic activity involving the service sector in July scored its biggest monthly gain in six years amid record growth of new orders, according to a report released Tuesday.
After Court Approval, Ross Speaks of Plans For Bur
Greensboro, NC, August 2--The man who appears to have gained control of Burlington Industries Inc. on Friday said he expects to invest money building the company and is lobbying for better enforcement of U.S. trade policy, according to the Charlotte Obser
Construction Spending Flat
Washington, DC, August 1--Construction spending was flat in June, falling short of expectations, as outlays for private residential construction fell, the government said on Friday.
Judge Throws Out Breakup Fee In Burlington Deal
GREENSBORO, NC, Aug. 1--A bankruptcy judge on Thursday threw out a $6.08 million breakup fee that was part of the bid by investment firm W.L. Ross Inc. LLC to buy bankrupt Burlington Industries, forcing a renegotiation.
Armstrong Announces Leadership Change
Lancaster, PA, July 31--Armstrong World Industries, Inc. announced that Chan W. Galbato, President and CEO, Armstrong Floor Products, will leave the company to pursue other opportunities.
Dixie Group's Income Down
Chattanooga, TN, July 30--The Dixie Group, Inc., today reported net income of $1.4 million, or $0.12 per diluted share, for the second quarter ended June 28, compared with net income of $3.0 million, or $0.25 per diluted share, for the prior-year period.
Burlington Goes To WL Ross, Mohawk To Get Lees
Greensboro, NC, July 28--Burlington Industries, Inc. today announced that the purchase price in its July 25th acquisition agreement with W.L. Ross & Co. LLC had been increased from $608 million to $620.08 million, both subject to various adjustments. The