The net sales increase was achieved amidst the continuing economic challenges posed by rising mortgage interest rates, near-record-low existing home sales, ongoing pressure on housing affordability, and slowing sales of large ticket discretionary products.

Uncertainty is the theme for the fourth quarter for flooring businesses. An in-kind donation can help flooring businesses clear inventory, do good for their community and achieve a significant tax break.

Benchwick, an innovator in 3D-printed flooring technologies and a subsidiary of Northann Corp., celebrates the closure of Northann Corp.'s Initial Public Offering (IPO). 

Performance primarily reflected the continued impact of the difficult macro backdrop that has impacted big ticket discretionary purchases as well as the demand for home remodeling projects, according to LL Flooring President and Chief Executive Officer Charles Tyson.

Sales were affected by weakened demand in the residential segment in Europe, increasing interest rates and general high cost inflation. 

Comparable sales decreased 1.6%, with strong spring recovery and Pro and online sales growth, partially offsetting lumber deflation and lower DIY discretionary demand.

Retail sales in the United States were up 0.7% month-over-month in July of 2023, marking a fourth consecutive rise, according to the Commerce Department.

The retailer cites lower spending by consumers and pro customers along with low brand awareness for the second-quarter sales decreases. 

Sales decreased at comparable stores by 8.0% during the second quarter of 2023 compared to the second quarter of 2022, primarily due to a decrease in traffic, which was partially offset by an increase in average ticket value.

Interface CEO Laurel Hurd said education sales were particularly robust in the second quarter, up 7% year-over-year, as facilities teams and administrators invested in refurbishment and maintenance projects during their summer break.