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The Tile Shop Sales Down 8.4% in Q2, Earnings Down 26.5%

The Tile Shop Sales Down 8.4% in Q2, Earnings Down 26.5%

Friday, August 04, 2023 from Floor Focus FloorDaily News

Minneapolis, MN, August 4, 2023 – 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.

For the first half of 2023, sales were $2.01 billion, a 4.5% decline compared to sales of $2.10 billion in the first half of 2022.

Net earnings for Q2 2023 were $5.08 million, a 26.5% decline compared to earnings of $6.91 million year over year.

For the first half of 2023, earnings were $7.59 million, a decline of 27.2% compared to earnings of $10.43 million in the same period last year.

Donato Pompo

Donato Pompo, CTC CMR CSI CDT MBA, is the leading tile and stone forensic expert and consultant in North America, and he is a National Tile Contractors Association Recognized Consultant. Donato is the founder of CTaSC.