The Dixie Group Reports Third Quarter 2019 Operating Results
Dalton, Ga. -- The Dixie Group, Inc. reported financial results for the quarter, which ended Sept. 28, 2019. For the third quarter of 2019, the company had net sales of $95,447,000, compared to $101,562,000 in the same period in 2018, a decrease of 6.0%. In the third quarter of 2019 sales, excluding sales through the mass merchant channel, were down 1.5% relative to the third quarter of 2018. Dixie Group has seen changes in its mass merchant sales as this channel has shifted more to hard surface flooring products, and therefore, the company did not repeat a large initial stocking order to this channel which occurred during the same period in 2018.
For the third quarter of 2019, the company had a loss from continuing operations of $2,577,000 or $0.16 per diluted share; however, adjusting for costs associated with facility restructuring and related inventory impairments, the company had a loss of only $1,452,000 for the third quarter of 2019. For the third quarter of 2018, the company reported a loss from continuing operations of $2,922,000 or $0.19 per diluted share on a higher level of sales.