Mohawk 2Q Report: 'Residential remodeling remains the industry's greatest headwind'
Mohawk announced net sales for the second quarter of 2023 were $3.0 billion, a decrease of 6.4%, and net earnings of $101 million for the period ending July 1, 2023, compared to net sales of $3.2 billion and net earnings of $280 million for the same period last year.
Jeffrey S. Lorberbaum, chairman and CEO, reported that typical of housing recessions, higher interest rates and inflation are significantly impacting flooring sales around the world: