Articles Tagged with ''financial insights''

The pandemic fueled a passion for all things home—but recent indicators show that the appetite for spending may be slowing.

Armstrong Flooring has received a number of proposals to acquire all or various parts of its business. 

Pieter-Jan Sonck, CFO of B.I.G., said the company plans to invest over 100 million euro into sustainability, innovation, and Industry 4.0.

Despite economic drivers that are creating uncertainty, 2022 is still shaping up to be a strong year for flooring, with many avenues leading to opportunity.

The $24 million debtor-in-possession financing will provide the company with the necessary liquidity to continue operating in the ordinary course as it pursues a swift, value-maximizing sale process.

In a continuation of its ongoing sale process, the company said in a statement that it intends to continue sale of its business. 

The company said it proactively increased efficiency across its business and continues to implement cost control measures that, when paired with strong order momentum,will provide a strong foundation for growth for the remainder of the year and beyond.

Net sales increased 31.5% from the first quarter of fiscal 2021 and comparable store sales increased 14.3%.

The company said it faced macroeconomic headwinds from inflation and a shift in consumer spending to travel and leisure this year compared to stimulus and nesting spending in the first quarter of 2021.

Higher construction costs are hindering new home sales as the cost of lumber, OSB, shingles and other materials rise.