Floordaily

Jul 16, 2020 / The Right News Right When It Happens

Top Story

Builder Confidence Rises to Pre-COVID Level of 72 in July

Washington, DC, July 16, 2020—In a strong signal that the housing market is ready to lead a post-COVID economic recovery, builder confidence in the market for newly-built single-family homes jumped 14 points to 72 in July, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

Today's Flooring News

Retail Sales Rose 7.5% in June

Washington, DC, July 16, 2020—Advance estimates of U.S. retail and food services sales for June 2020 were $524.3 billion, an increase of 7.5% from the previous month, and 1.1% above June 2019, according to the U.S. Census Bureau.

Mortgage Interest Rates Fall Below 3%

New York, NY, July 16, 2020—"In a year of financial firsts, this one stands out: Mortgage rates have fallen below the 3% mark,” reports the Wall Street Journal.

Remodeling Expected to Slow by Mid-2021 Due to COVID

Cambridge, MA, July 16, 2020—Expenditures for improvements and repairs to owner-occupied homes are expected to slow by the middle of next year as the COVID-19 pandemic continues to unfold, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.

Interface Announces Amendment to Credit Agreement

Atlanta, GA, July 16, 2020—Interface announced an amendment to its syndicated credit facility providing for, among other things, enhanced financial covenant flexibility through the fiscal quarter ending April 3, 2022.

Don Whifield of Shaw Dies

Chattanooga, TN, July 16, 2020--Durward “Don” Garland Whitfield, 84, of Shaw Industries died July 1.

Vincent Pompo of Southwestern Tile & Marble Company & CTDA Dies

San Diego, CA, July 16, 2020—Vincent N. Pompo, 93, of Southwestern Tile & Marble Company and the Ceramic Tile Distributor Association, died July 14.

Distributive Trade Sales & Manu. Shipments Rose 8.4% in May

Washington, DC, July 16, 2020—The combined value of distributive trade sales and manufacturers’ shipments for May was estimated at $1,284.3 billion, up 8.4% from April 2020, but was down 11.8% from May 2019, according to the U.S. Census Bureau.

Domotex Germany Releases Detail of & Safety Procedures for 2021 Show

Hannover, DE, July 16, 2020-Domotex released detail about the 2021 event, which will take place January 15 to 18 in Hannover, Germany.

Jobless Claims Rose by 1.3M in Second Week of July

Washington, DC, July 16, 2020-In the week ending July 11, the advance figure for seasonally adjusted initial claims was 1,300,000, a decrease of 10,000 from the previous week's revised level, reports the Department of Labor.

Patcraft Names 2020 "Schools of the Future!" Honoree

Cartersville, GA, July 16, 2020—Patcraft has recognized Walnut Grove Elementary School in Bargersville, Indiana, as a “Schools of the Future!” honoree.

Meridian Adhesives Group Acquires E-Chem

Dalton, GA, July 16, 2020-Meridian Adhesives Group has acquired E-Chem.