Articles
Tile Shop Sales Down 3.4% in Q4, Income Down 58%
The Tile Shop reported net sales for Q4 2023 were $84.5 million, a decrease of 3.4% compared to Q4 2022’s $87.5 million. Read More
Flooring Recovery Depends on Interest Rates
Floor covering demand is highly correlated with interest rate cycles. Interest rate movements affect housing demand, non-residential building construction spending and transportation equipment shipments. Any interest rate decline stimulates flooring sales to households, businesses, builders and transportation equipment manufacturers. Read More
Port-of-Entry
December continues the calming trend for U.S. hard-surface imports, with the $373.9 million in customs value showing a slight increase – 2.2% -- in a year-over-year comparison. The huge annual and monthly drop-offs look to be over. While last December did trail November, the margin was within a seasonal year-end range of less than 3%. Read More
Floor & Decor Sales Flat in Q4, Income Down 46%
Floor & Décor announced net sales of $1 billion, flat with Q4 2022. Comparable store sales decreased 9.4%. Read More
Mohawk Sales Declined 1.4% in Q4 2023, Earnings Positive
Mohawk net sales for Q4 2023 were $2.6 billion, a decrease of 1.4% compared to net sales of $2.7 billion in the same period last year. Q4 2023 net earnings were $139 million, an increase of 421% compared to net earnings of $33 million in Q4 2022. Read More
Floor Coverings Sales Trends
U.S. floor coverings sales could have turned the corner in the fourth quarter of 2023 after seeing declining sales over the first three quarters of the year. Based on monthly data, Catalina estimates U.S. floor covering manufacturer dollar sales (shipments minus exports plus imports) could have increased by 0.7 percent in the fourth quarter, while square foot sales could have risen by 1.9 percent. Read More
Construction Worker Shortage Estimated at 501,000
The construction industry will need to attract an estimated 501,000 additional workers on top of the normal pace of hiring in 2024 to meet the demand for labor, according to a proprietary model developed by Associated Builders and Contractors Read More
The International Impact of Tile
Tile is truly a global flooring product. With so many vendors exploring fashion and technology, innovation in both look and composition enables a large scale appetite for the various new products from all around the world. Thanks to this continuing globalization, tile’s market reach is one that extends worldwide and remains robust and diversified. Read More
Crazy For Countertops
Countertops are the keystone in every kitchen, tying together the flooring, walls, cabinetry and appliances. With so many different options available — from quartz to granite, tile to engineered stone — it’s a matter of what is most important to the consumer and identifying the right option for them. Read More
The Home Depot to Acquire International Designs Group
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