Armstrong Flooring reported a decrease in net sales for the third quarter, primarily due to lower sales volumes related to COVID-19 pandemic-related business disruptions. Postponed commercial projects and slower activity at independent customer retail locations, partly offset by increased activity in home centers and other residential channels, affected quarterly results, the company said.
The company reported a 5.4% decrease in net sales for the third quarter of 2020, ending September 30, 2020, to $156.6 million from $165.6 million in the third quarter of 2019.
“Third quarter results were largely in line with our expectations as we further invested in the multi-pronged transformation and modernization of our business," said President and CEO Michel Vermette. "We were pleased to produce sequential top line improvement compared to the second quarter 2020 primarily due to stronger trends in residential end markets outpacing a slower recovery in commercial activity. Feedback from our customers about our service enhancements continues to be positive and leaves us confident that we are on the right path to improve our market positioning and set the stage for growth in the years ahead. Through our customer-centric operating model, we will continue to approach opportunities with a returns oriented mindset while keeping our focus on three core areas that comprise expanding our reach within our addressable flooring market, simplifying our processes, and strengthening our competitive positioning for long-term success.”
