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Interface Guides Q1, FY23 Revenues In Line - Update
(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, commercial flooring company Interface, Inc. (TILE) said it expects net sales for the first quarter in a range of $290 million to $305 million and net sales growth of 1 to 5 percent for the full-year 2023.
On average, analysts polled by Thomson Reuters expect revenues of $292 million for the first quarter and revenue growth of 2.5 percent to $1.33 billion for the year.
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Interface Swings To Profit In Q4
Commercial flooring company Interface, Inc. (TILE) reported Tuesday net income for the fourth quarter of $19.56 million or $0.33 per share, compared to a net loss of $24.62 million or $0.42 per share in the prior-year quarter.
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Saying Goodbye To The Penny To Cost U.S. Consumers $6 Mln In 'Rounding Tax'
Phasing out the penny is set to involve some cost to U.S. consumers paying in cash as businesses are set to round transactions to the nearest nickel, new research from the Federal Reserve Bank of Richmond revealed on Wednesday.
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U.S. House Purchase Mortgage Applications Highest In Over 2 Years: MBA
Home loan applications in the U.S. rose to their highest level since early 2023 in the week ended July 04, while mortgage rates eased only modestly, survey data from the Mortgage Bankers Association showed on Wednesday. The number of mortgage applications grew 9.4 percent from the previous week when it they rose 2.7 percent, the MBA said.
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Swiss Franc Rises Against Most Majors
The Swiss franc rallied against its most major counterparts in the New York session on Wednesday.
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Fed Minutes Reveal Mixed Views About Outlook For Interest Rates
The Federal Reserve on Wednesday released the minutes of its June monetary policy meeting, which revealed most participants generally agree the central bank is well positioned to wait for more clarity on the outlook for inflation and the economy before adjusting interest rates.
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U.S. Wholesale Inventories Dip In Line With Estimates In May
A report released by the Commerce Department on Wednesday showed a modest decrease by wholesale inventories in the U.S. in the month of May. The Commerce Department said wholesale inventories fell by 0.3 percent in May after inching up by 0.1 percent in April. The pullback by inventories matched economist expectations as well as the flash estimate.
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Bay Street May Open On Positive Note
Slightly higher Canadian and U.S. futures point to a marginally positive start for Canadian shares on Wednesday.
The focus will be on trade deal negotiations.
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Yen Falls As Traders Speculate BoJ Rate Hike Pause
The Japanese yen weakened against other major currencies in the late Asian session on Wednesday, as traders reduced their bets on an immediate interest rate hike by the Bank of Japan (BoJ) due to worries about the possible economic effects of US President Donald Trump's trade tariffs.
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