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.

The $24 million debtor-in-possession financing will provide the company with the necessary liquidity to continue operating in the ordinary course as it pursues a swift, value-maximizing sale process.

In a continuation of its ongoing sale process, the company said in a statement that it intends to continue sale of its business. 

The company said it proactively increased efficiency across its business and continues to implement cost control measures that, when paired with strong order momentum,will provide a strong foundation for growth for the remainder of the year and beyond.