Existing Home Sales Slow
Washington, DC, Dec. 27--The market for existing single family home sales slipped from near record levels in November but are on track for a record year, according to the National Association of Realtors.
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.
Pergo/Witex Merger Will Not Be Completed by Year-e
Trelleborg, Sweden, Dec. 30--Pergo's on-going negotiation concerning the merger between Pergo and Witex will not be completed before year end.
Wal-Mart Trims Its Dec. Sales Guidance
Bentonville, AR, Dec. 26-—Wal-Mart lowered its December sales forecast saying it now expects same-store sales to increase from two percent to three percent for the five week period ending Jan. 3.
Construction Spending Rises
Washington, DC, Jan. 3--Construction spending rose by 0.3% in November, helped by record activity in the housing market, according to the Commerce Department.
Home Depot's Downgrades Earnings Estimate...
Atlanta, GA, Jan. 3--Slow sales during the holiday season have led Home Depot to lower its earnings estimates for its fiscal year ending in February. The firm now expects earnings of between $1.53 and $1.55 a share--well below the $1.57 a share forecast b
While Lowe's Expects Estimates to Be on Target
Wilkesboro, NC, Jan. 2--Lowe's Companies has reconfirmed its sales and earnings expectations for the fiscal fourth quarter and year.
Wood Flooring Industry Striving For Greener Harves
St. Louis, MO, Dec. 31--Contrary to popular belief, the commercial forests of the present day U.S. are twice as prosperous as those in the 1960s.
Moody's Cuts Congoleum Ratings
New York, NY, Dec. 19--Moody's Investors Service downgraded the ratings of Congoleum Corporation because of mounting asbestos claims, the apparent exhaustion of its primary insurance coverage, and a temporary delay in the attachment of its excess laye
Orders For Durable Goods Fall
Washington, DC, Dec. 24--Orders to U.S. factories for big ticket goods fell 1.4% in November, handing a setback to the nation's manufacturers, which have been struggling to get back on their feet after being knocked down by last year's recession.
Kmart Reports 3rd Quarter Loss of $383 Million
Detroit, MI, Dec. 23--Kmart posted a loss of $383 million, or $0.76 per share in the third quarter, compared to a restated loss of $249 million, or $0.50 per share in the same period a year ago.