Dixie Group Chairman and CEO Daniel K. Frierson said a significant factor in the year-over-year sales decline was a loss of volume in the mass merchant channel, with primary customer's strategies shifting toward lower price points

The retailer opened nine warehouse stores in the second quarter of 2023, and the company said it intends to open 32 warehouse stores in fiscal 2023. 

The Federal Reserve approved a much-anticipated interest rate hike that takes benchmark borrowing costs to their highest level in more than 22 years.

While the U.S. housing market remains under pressure, the commercial sector has proven more resilient as businesses continue to invest in new construction and remodeling projects.

From the 2023 Starnet Annual Meeting in Scottsdale, Arizona, Starnet President and CEO Mark Bischoff gives an overview of the commercial flooring market—which is growing despite a chaotic economic environment and challenging headwinds. 

While there are several risks facing the U.S. economy and the construction sector in 2023, the most pressing concern is the ongoing battle over raising the debt ceiling, which could have significant repercussions for government spending and overall economic stability.

The Home Depot President and CEO Ted Decker reported that sales for the quarter were below expectations primarily driven by lumber deflation and unfavorable weather.

Our new American Express survey of 1,100 U.S. small business leaders shows that small businesses are seeking consolidated cash flow management tools to foster greater efficiency, profitability, and business growth.

Total comparable store sales decreased 15.4% versus the same period last year. Gross margin of 36.6% decreased 70 basis points as a percentage of sales, driven by $2.1 million in incremental costs related to customs delays on flooring products that contain PVC as a consequence of the Uyghur Forced Labor Prevention Act.

Floor & Decor CEO Tom Taylor said consumers are prioritizing value and savings and in-stock job lot quantities.