Floordaily

Jun 03, 2024 / The Right News Right When It Happens

Top Story

April Construction Spending Virtually Flat from March, Up 10% YOY

Washington, DC, June 3, 2024-Construction spending during April 2024 was estimated at a seasonally adjusted annual rate of $2,099.0 billion, 0.1% below the revised March estimate of $2,101.5 billion, according to the U.S. Census Bureau, 10.0% above the April 2023 estimate of $1,907.8 billion.

Today's Flooring News

Tom Sullivan Launches Proxy Fight at LL Flooring

New York, NY, June 3, 2024—"LL Flooring’s founder, Tom Sullivan, is launching a proxy fight at the company he created, marking the latest investor activism at the struggling flooring seller as the company considers alternatives,” reports the Wall Street Journal.

Trade Commission to Investigate Dumping Claims on Indian Tile

Clemson, SC, June 3, 2024-The Tile Council of North America (TCNA) announced that on May 31, the United States International Trade Commission (USITC) unanimously determined a reasonable indication of material injury or threat of material injury to U.S. tile manufacturers by reason of imports of ceramic tile from India.

ISM Purchasing Managers' Index Inched Down to 48.7% in May

Tempe, AZ, June 3, 2024—The Manufacturing PMI registered 48.7% in May, down 0.5 percentage point from the 49.2% recorded in April, according to the latest ISM Report On Business.

Merola Tile Distributors Acquires Pan American Ceramics

Manalapan Township, NJ, June 3, 2024—Merola Tile Distributors of America has acquired Pan American Ceramics.

Len Andolino Forms Andolino Management Group

Dalton, GA and Toms River, NJ, June 3, 2024-Len Andolino, a 40-year industry veteran, has re-established Andolino Management Group with a focus on the high-end decorative flooring industry.

Advanced Flooring Technology Opens Training Facility in Ft. Worth

Ft. Worth, TX, June 3, 2024—Advanced Flooring Technology (AFT) has announced the opening of a new training facility for floorcovering installers in Ft. Worth, Texas.

HMTX Announces Promotions for Smith & Zurn

Norwalk, CT, June 3, 2024-- Natalia Smith has been promoted to senior director, commercial design for HMTX, and Jay Zurn has been promoted to senior director, technical services.

Apartment Absorption Rates Declined in Q4 2023

Charlotte, NC, June 3, 2024—"According to the Census Bureau's Survey of Market Absorption of New Multifamily Units, 42% of the 91,060 unsubsidized apartments completed in Q4 2023 were absorbed (aka rented) within the first three months following project completion,” reports Truist.

Hallmark Floors Forms Distribution Partnership with Diamond W

Ontario, CA, June 3, 2024—Hallmark Floors, a provider of flooring solutions, has announced that Diamond W Flooring has been appointed as a full-line distributor of all Hallmark products, effective immediately.

$1 Trillion in Commercial Real Estate Debt to Comes Due in 2 Years

Charlotte, NC, June 3, 2024-"The Conference Board is raising the alarm on commercial real estate noting that the worst is yet to come for the industry,” reports Truist.

Versatrim Announces Partnership with Fitness

Henderson, NC, June 3, 2024—Versatrim, a provider of floor molding products and resources for residential and commercial projects, has announced a partnership with Fittes.