Articles Tagged with ''financial insights''

Net sales rose 6.5% and net earnings rose 11.5% for the period ending July 31, 2022. 

Rising mortgage rates, high inflation, low existing inventory and elevated home prices contributed to housing affordability falling to its lowest point since the Great Recession in the second quarter of 2022.

Laurel Hurd, CEO of Interface, said continued demand for carbon neutral and carbon negative products drove a 10% year-over-year increase in backlog.

The company said a year-over-year decrease in comparable store sales reflects continued lower spending by consumers due to pressure from inflation and higher interest rates and consumer preference to spend more on travel and entertainment.

The brand also signed seven new franchisees year to date and opened another 11 locations. 

The company reported that sales grew in all segments, with top-line results benefiting from price increases, enhanced product mix, improvements in commercial and contributions from small acquisitions.

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.