Kmart Shares Delisted
Troy, MI, Dec. 19--Bankrupt retailer Kmart Corp.'s shares will begin trading on the Pink Sheets electronic quotation system on Thursday under the symbol "KMRTQ.PK", ending an 84 year run on the New York Stock Exchange.
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.
UK Carpetright Profits Rise
London, England, Dec. 17--Britain's biggest floorcovering retailer, Carpetright Plc posted a 15.7% rise in first half profit and reported slowing same store sales growth at the start of the second half.
AFA Forms Communication Partnership
Dalton, GA, Dec. 18--The American Floorcovering Alliance (AFA) has formed a marketing relationship with Atlanta based LecStar Telecom, Inc.
Flooring America Names New Advisory Council Member
Manchester, NH, Dec. 13--Flooring America has named five new members to its Advisory Council.
Lowe¹s Poised To Expand
Wilkesboro, NC, Dec. 18--Lowe's, which is adding about 60 stores in the greater New York area over the next several years, will spend $80 million to $100 million to add five stores and improve existing ones in northern New Jersey.
Wholesale Prices Drop
Washington, DC, Dec. 13--Wholesale prices dropped 0.4% in November, the biggest decline in six months. The sizable drop in the Producer Price Index, which measures prices of goods before they reach consumers, came after wholesale prices jumped 1.1% in Oct
Graninge Acquires Kahrs' Cogeneration Plant
Stockholm, Sweden, Dec. 16--Graninge has signed an agreement to acquire the energy business area of the flooring manufacturer AB Gustaf Kahr.
Retail Sales Up
Washington, DC, Dec. 12--Shoppers pushed sales at the nation's retailers up by 0.4% in November, the best showing in three months. Sales of furniture and home furnishings led the way
Chorman Elected to Foamex Board
Linwood, PA, Dec. 11--Thomas E. Chorman, president and chief executive officer of Foamex International has been elected to the company's board effective immediately.
Dow Brings Back Former CEO
Midland, MI, Dec. 13--Citing two years of lackluster financial performance, Dow Chemical replaced its president and chief executive with the man who previously led the company.