Articles

Home Depot entered into an agreement to acquire International Designs Group (IDG)—a construction materials conglomerate that includes UMI, Construction Resources (CR), Marva, European Granite & Marble Group, and Cancos Tile & Stone—from private equity firm Mill Point Capital. Read More

Lowe’s reported Q3 2023 net sales of $20.5 billion, a 12.8% decline compared to sales of $23.5 billion in the same quarter last year. Read More

Floor & Décor reported net sales of $1.1 billion in Q3 2023, up 0.9% from $1.1 billion in Q3 2022. Read More

Mohawk reported net sales of $2.8 billion for Q3 2023, a 5% decline compared to sales of $2.9 billion in the same quarter last year. The company reported an earnings loss of $760 million for Q3 2023, compared to a loss of $534 million in Q3 2022. Read More

Flooring suppliers are truly taking their global sourcing operations worldwide. As the Uyghur Forced Labor Prevention Act (UFLPA) continues to cause massive disruptions to the importation of flooring products, particularly the most popular segment, luxury vinyl tile (LVT), manufacturers are proactively searching for new sourcing alternatives, spanning the globe from India to Mexico. In addition, many are significantly expanding their U.S. manufacturing operations. Read More

n June, U.S. imports of hardwood flooring fell by 15% versus May, the second straight month of declines, according to the Decorative Hardwoods Association. Read More

The National Advertising Division (NAD) is recommending Mohawk discontinue two “misleading” claims regarding the promotion of its RevWood laminate flooring product. The claims include, “Wood Without Compromise” and “The Perfect Wood for Your Home.” Read More

For the first time, India became the largest ceramic tile supplier of the U.S. by units in the time period between January and June, reports Grosser Associates. Read More

Importing LVT from Asia continues to be a source of frustration for several major importers, as roughly $200 million (at wholesale value) has been either quarantined or returned to the sender. Read More

LL Flooring reported net sales of $236.4 million for Q2 2023, a decrease of 20.9% from Q2 2022’s $299 million, driven by a decrease in transaction count reflecting by lower spending by consumers and pros. Read More