Floor Covering News

JANUARY 24, 2024

“Overall, last year was a challenging year with higher interest rates while people not moving hurt the multifamily and builder business,” said Tracy Wyrick, vice president of sales, builder and multifamily, Engineered Floors. “We Economic recovery in 2024 will lead to a return to growth in multifamily starts.”

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Floor Covering News

JANUARY 16, 2024

Following a turbulent 2023 —which saw sharp declines in demand and home prices—falling mortgage interest rates and positive economic data signal improving housing conditions as 2024 kicks off. Freddie Mac reported 30-year fixed-rate mortgages fell under 7% for the first time in four months. and 5% in each of the four U.S.

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Floor Covering News

MARCH 4, 2024

Retailers like 3 Kings, pictured here, report spending is robust for those with more disposable income. If the first two months are any indication, flooring retailers may be in for a pleasant surprise in 2024, with early returns showing home improvement/remodeling activity picking up in several locations.

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Floor Covering News

MAY 16, 2024

Confidence in the market for new multifamily housing declined year-over-year in the first quarter of 2024, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB). The post Multifamily developer confidence declines in first quarter appeared first on Floor Covering News.

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Floor Covering News

NOVEMBER 29, 2023

ceramic market will be down mid-single digits in sales and high single digitals in volume when the calendar flips to 2024. It was, however, a sizeable 23% increase in sales from 2020’s $2.844 billion when the category experienced its first decline since 2009 amid the Great Recession. Category experts agree the U.S. year-to-date.

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Floor Covering News

APRIL 30, 2024

Hardwood flooring’s loss of market share to competing hard surfaces over the past 10-15 years is well catalogued and documented. The experience was much the same at the Kährs space, where Renee Tester, vice president of marketing, reported brisk traffic and busy appointments, especially on opening day. “We

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Floor Covering News

NOVEMBER 13, 2023

O nce again, your friendly neighborhood flooring publisher is here to debunk another media-created fallacy that is designed to generate eyeballs and clicks and, potentially, negatively impact your business. September sales data shows that light vehicle retail sales soared in the third quarter, while hardware stores were weak.

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Floor Covering News

APRIL 15, 2024

Reports of robust consumer spending on travel and entertainment has continued to boost U.S. gross domestic product (GDP) in recent quarters, but that outlay has not trickled down to the flooring sector to the same degree. That’s according to dealers who reported a mostly flat Q1. Flooring retailers in the U.S.

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Floor Covering News

MAY 18, 2021

In the second quarter of 2020, residential carpet sales plummeted 23% in volume and 27.4% When all the numbers were crunched for 2020, FCNews research shows overall carpet sales fell 12.5% Total area rug sales fell an estimated 2% to $2.576 billion in 2020, according to industry estimates. billion in 2019. share of total volume.

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Floor Covering News

DECEMBER 21, 2023

These awards honor groundbreaking ideas and industry-changing concepts that have the potential to impact the way flooring is manufactured, promoted and sold. As the click system ensures perfect alignment of the tiles, installation of a FlinTile floor does not require any specific tools or the use of spacers.

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Floor Covering News

NOVEMBER 20, 2023

The index and all its components are scaled so that a number below 50 indicates that more respondents report conditions are poor than report conditions are good. The index and all its components are scaled so that a number above 50 indicates more respondents report that occupancy is good than report it is poor.

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Floor Covering News

NOVEMBER 21, 2023

NAHB is forecasting approximately a 5% increase for single-family starts in 2024 as financial conditions ease with improving inflation data in the months ahead. But with mortgage rates running above 7% since mid-August, per Freddie Mac data, many builders continue to reduce home prices to boost sales.

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Floor Covering News

DECEMBER 20, 2022

Our latest survey shows 62% of builders are using incentives to bolster sales, including providing mortgage rate buy-downs, paying points for buyers and offering price reductions. and for the first time since April, builders registered an increase in future sales expectations.

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Floor Covering News

NOVEMBER 28, 2023

No one is expecting floor covering distributors to post banner sales numbers for 2023—certainly not in an environment marked by high inflation and a slumping new home construction market. If you’re on the non-residential side of the street, you’re going to be doing very well in 2024 but you’re going to see some pain in 2025.”

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Floor Covering News

OCTOBER 9, 2023

These leaders will have full responsibility for all aspects of the residential business, including builder, multi-family and retail sales, along with inventory management for their respective regions. All leaders will report to Scott Sandlin, executive vice president of Shaw’s residential business unit. “As

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Floor Covering News

NOVEMBER 29, 2023

Any third-party settlement provider accepting credit cards on behalf of the business and putting money into the business’ bank account will have to be reported to the IRS. But now, if you receive more than $600 in total in 2023—regardless of how many customers are paying—your payment service is required to report that amount to the IRS.

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Floor Covering News

MAY 16, 2024

From advances in Artificial Intelligence (AI) to browser-based business management software to digital samples data, the world of flooring software is rapidly expanding, which is a good thing for today’s flooring retailer looking to up their game. We asked two simple questions: What challenges are you facing; and how can we help?”

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Floor Covering News

MARCH 2, 2023

Whether that’s a rise in retail sales for the month of January or an uptick (albeit a slight bump) in quarterly GDP, there are reasons to be genuinely optimistic. Following is an overview of some of the key economic reports, along with expert commentary. showed January retail sales (excluding automobiles) rose 2.3% in December.

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Floor Covering News

MAY 3, 2023

Many of the new Mirage hardwood flooring offerings for 2023 will be built on a new engineered platform. The Baltic birch plywood challenge put stress on everyone from an availability, cost and communication point of view,” said Brad Williams, vice president of sales and marketing, Mirage. Pictured is Dreamville oak.

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Floor Covering News

NOVEMBER 2, 2021

By Ken Ryan— D espite myriad challenges, many flooring distributors are benefiting from the continued strength of the home improvement/retail sector as well as the SPC/rigid core category to post healthy gains in 2021—with some wholesalers up 50% or more from 2020. 2 ranked wholesaler with 2021 sales projected at $335 million.

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Floor Covering News

JULY 6, 2022

I can understand where the growing lack of confidence comes from, and there is no need to disparage those who collect and report the data. Retail sales trends. One of the many leading indicators ITR Economics examines in its forecasting models is retail sales trends. in the month of April vs. 2.1%

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