Articles
The Tile Shop Sales Down 8.4% in Q2, Earnings Down 26.5%
The Tile Shop reported net sales of $98.6 million for Q2 2023, an 8.4% decline compared to sales of $1.08 billion for Q2 2022. Sales decreased at comparable stores by 8.0% during the second quarter of 2023 compared to the second quarter of 2022, primarily due to a decrease in traffic, which was partially offset by an increase in average ticket value. Read More
Floor & Décor Grew Sales by 4.2% in Q2, Earnings Down 12.7%
For Q2 2023, Floor & Décor reported a net sales increase of 4.2% to $1.14 billion from $1.09 billion in Q2 fiscal 2022. Comparable store sales decreased 6.0 Read More
2023 Kitchen & Bath Sales Trends
The sharp decline in the U.S. housing market caught up with kitchen and bath product manufacturers and marketers in the first half of 2023. Dollar manufacturer sales (shipments minus exports plus imports) could have declined by 5.6 percent in the first half. Unit sales declined about 2.0 percent in the first half. Price increases, however, moderated along with inflationary pressures. The dollar sales decline this year compared to a 10.8 percent gain for all of 2022. First half 2023 sales declined along with the drop in new home construction and existing home sales as the Federal Reserve increased interest rates. Rising rates caused housing demand – new and existing – to drop sharper over the past year. Read More
Soft Surface Struggles in 2022
After a robust year in 2021, 2022 was a tough year for soft surface flooring. Carpet and area rug sales could have declined by 2.6 percent in dollars and 11.1 percent in square feet in 2022, pushing sales down to $12.7 billion and 11.5 billion square feet, according to Catalina Research. Read More
The Comeback Continues
Laminate dollar, square footage sales see uptick Although square footage sales were somewhat sluggish in contrast to the previous couple of years, the laminate flooring category benefited from rising prices as well as product innovation in 2022. According to Catalina Research, laminate flooring sales could have increased by 9.7 percent to $1.2 billion, while square footage sales ticked up by 0.3 percent to 978 million. Read More
Tile Top Performer
According to Catalina Research, total dollar sales for ceramic and porcelain tile in 2022 could have increased by 14.2 percent compared to the previous year. Aside from LVT, tile is the only category to see double digit gains from 2021. Catalina Research estimated that tile accounted for 12.1 percent of all floor covering sales in 2022, earning approximately $4.8 billion in sales. The natural stone category too saw growth this year and earned $2.1 billion in sales, Catalina reported Read More
Hardwood Hangs Tight
At first glance, the hardwood numbers in this year’s Catalina Report appear to indicate a softening in the wood market, with square footage sales declining a reported 4.5 percent to 1.6 billion in 2022 despite dollar sales increasing 7.3 percent to $4.6 billion. Read More
Resilient’s Reign Continues
As the industry growth leader for several years now, resilient flooring’s sales continued its upward trajectory in 2022. The category was further innovated with new technology during the pandemic and, as consumers remodeled their homes, resilient was in high demand because of its easy installation and DIY capabilities. As well, advancements in technology and design along with its price point continued to resonate with consumers, making the luxury vinyl tile (LVT) category specifically the second largest flooring segment after carpet at 28 percent of total dollar sales. Read More