Articles
Mohawk's Sales Declined 5% in Q3, Earnings Loss of $760 Million
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
Home Remodel Spend Expected to Decline 7.7% Through Q3 2024
Annual spending for improvements and repairs to owner-occupied homes is expected to decrease at a moderate rate over the coming year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. Read More
Remodeling sales weaken, commercial sales gain
U.S. floor coverings manufacturer sales (shipments minus exports plus imports) continued to decline in the third quarter, however, at a more moderate rate. Dollar sales could have declined by 4.3 percent in dollars and 4.4 percent in square feet. This compares to an 8.1 percent drop in dollar sales and a 9.5 percent decrease in square feet in the first half of 2023. Read More
AIA Billings Index Declined to 44.8 in September
The AIA/Deltek Architecture Billings Index (ABI) score of 44.8 for September is the lowest score reported since December 2020 during the height of the pandemic, according to the American Institute of Architects. Any score below 50.0 indicates decreasing business conditions, and this score indicates a significant increase in firms reporting declining billings. Read More