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The fiscal first-quarter profit of Lowe's Co. rose an unexpectedly robust 20% as the home-improvement retailer controlled costs and increased sales.

Dal-Tile International Inc. announced the public offering of 16 million shares of common stock by certain selling stockholders priced at $13.75 per share.

The House2Home chain of home decorating centers is now carrying Shaw Industries’ Kathy Ireland rug collection and Shades of America Colorwall carpet line.

Hardwood flooring manufacturer Tarkett Sommer AG said profit rose 11% in the first quarter of 2001 as price increases took effect and sales rose.

Positive financing conditions and a slight improvement in consumer sentiment helped keep the housing market steady in May as the National Association of Home Builders' Housing Market Index remained unchanged from the previous month at 57.

Indicating continued strength in the housing sector amid broader economic weakening, housing starts rose 1.5% in April from the previous month to a seasonally adjusted annual rate of 1.61 million units, the U.S. Commerce Department reported.

Tom Conser, manager of The Roane Co.’s San Diego branch from July 1981 to October 1999, died May 14 after a long illness. He was 71.

Industri Kapital, Scandinavia's largest buyout firm, has won European Union approval to buy the chemical operations of Swedish company Perstorp AB.

Fiber cement maker James Hardie Industries Ltd. said it has initiated discussions with “a number of parties” to sell its U.S. gypsum business.

Formica Corp. today announced that its net sales for the quarter ending March 31 increased $47.8 million, or 32.7%, to $194.1 million vs. $146.3 million for the same prior year period.