Tuesday, April 29, 2008

Masco First Quarter Sales Dip 13%

Sales by Masco Corp. dipped 13% in the first quarter of 2008 to $2.4 billion.
Masco forecasts 2008 housing starts will decline an additional 25% to 33%, to a range of 900,000 to one million units. It also thinks that consumer spending for home improvement products will be weaker than originally anticipated, and that its 2008 percentage sales decline will be low-double digits to mid-teens compared to 2007.

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