Woodworking Industry News

Woodworking Industry News

'Oh (bleep),' says furniture CEO as stock tumbles after tariffs announcement

Expletives are not usually the sort of discourse heard when a CEO is discussing his company's financial results in a call with financial analysts, journalists, and investors. But, for Restoration Hardware's CEO Gary Friedman, his real-time surprise of "Oh (bleep),” perfectly fit the moment he learned that shares of his company were down 30% after the White House made its "Liberation Day" tariffs splash.

Woodworking Industry News

Wilsonart acquires Virginia Tile's woodworking distribution business

Virginia Tile, a division of Transom Capital Group-backed Artivo Surfaces, has sold its woodworking products distribution business to Wilsonart Engineered Surfaces. The acquired operations are headquartered in Kansas City, Kansas, with branches in Tulsa, Oklahoma City, Wichita, and Springfield, Missouri. The acquired locations distribute decorative surfaces, cabinet accessories, and decorative and functional hardware.

Woodworking Industry News

Trump excludes lumber in massive tariffs plan

WASHINGTON -- After repeatedly saying that the U.S. didn't need Canadian lumber and numerous repeated threats to add to import taxes to a big chunk of U.S. wood supply, lumber has been left out of Trump's tariff blitz. When President Trump announced reciprocal tariffs on a list of dozens of countries, lumber, composite wood panels and related products and other USMCA-compliant goods from Canada and Mexico were exempted.