Home Depot Inc. said its fiscal fourth-quarter earnings will drop 20% and first-half results will be hurt as consumers spend less on remodeling projects.
U.S. builders started work on new homes in December at the fastest pace in seven months, a sign housing escaped the slowdown in retail spending that caused manufacturing to slump.
As part of its shift in corporate focus to transition out of the home improvement sector and into the home decorating market, HomeBase Inc. has begun phase three of its chain-wide store conversion program, continuing its broad expansion of the company's new House2Home retail concept.
Automotive interior maker Collins & Aikman Corp., whose results have slumped amid slower auto production and costs related to retirement of debt, said that private equity firm Heartland Industrial Partners, LP will take a 60% stake valued at $260 million.
Ray C. Anderson, who declared war on waste in products and processes at the world's largest commercial carpet company, has been named recipient of the 2001 George and Cynthia Mitchell International Prize for Sustainable Development.
BP Amoco Plc, the No. 3 publicly traded oil company, said it's seeking buyers for two plastic-processing units with combined sales of $1 billion as the company focuses on chemical businesses more closely linked to oil.
Foamex International Inc., a leading manufacturer of flexible polyurethane and advanced polymer foam products, has appointed Theodore J. (Terry) Kall, 60, executive vice president of Foamex International Inc. and president of the company's carpet cushion business.
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