New Home Sales Plummet
Washington, DC, Feb. 27--New home sales dropped in January by the largest amount in nine years. Sales of new single family homes fell to a seasonally adjusted annual rate of 914,000.
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.
Big Burlington Shareholder Unhappy
Greensboro, NC, Feb. 27--A Burlington Industries shareholder, according to papers filed with the federal bankruptcy court, has asked the court to appoint a committee that would represent the company’s shareholders.
Consumer Confidence Down
New York, NY, Feb. 26--Consumer confidence fell in February to its lowest level in nearly ten years. The Conference Board’s Consumer Confidence Index fell almost 15 points to 64.0, its lowest reading since October 1993, from 78.8 in January.
FloorTek Set For April
Dalton, GA, Feb. 26--This April 22-24, the American Floorcovering Alliance (AFA) will host the biannual FloorTek Expo at the Northwest Georgia Trade and Convention Center in Dalton.
Koch Says It’s Not Buying DuPont Textiles & Interi
Wichita, KS, Feb. 25--Koch Industries has denied a report that it’s buying DuPont Textile & Interiors.
Home Depot Co-founder Stresses Service
Atlanta, GA, Feb. 26--Home Depot co-founder Arthur Blank said the home improvement retailer could boost sales and earnings by balancing an efficiency drive with a commitment to great customer service.
Mohawk Expects Capital Spending To Remain Steady
Washington, DC, Feb. 26--Mohawk Industries sees capital spending of $120 million to $140 million for 2003, according to the company's annual report.
Kmart Could Sue Ex-CEO
Troy, MI, Feb. 26--Kmart Corp. said it’s found evidence supporting possible legal action against former chief executive Charles Conaway for allegedly hiding the retailer's deteriorating finances from the board in the months before the company filed fo
BASF Raising Nylon Fiber Prices, Too
Charlotte, NC, Feb. 24--BASF Corporation will increase prices 11% on all residential bulked continuous filament (BCF) nylon carpet products and 4% to 7% on all commercial carpet nylon fiber products.
Home Depot Has Record Year End Earnings
Atlanta, GA, Feb. 25--The Home Depot had record net earnings of $3.7 billion ($1.56 per diluted share) for fiscal 2002, compared with net earnings of $3.0 billion ($1.29 per diluted share) the year before.