However, operating margins have slightly improved to 25.8 per cent despite low sales. Despite $1.5 million lower selling and administrative costs, the selling and administrative percent of net sales increased from 23.2 per cent in the third quarter of last year to 23.7 per cent of sales in the third quarter of 2016 due to the lower sales volume.
“Albeit the third quarter took off at a slow pace, the situation improved with time. Our commercial product sales were 13 per cent below the prior year. The commercial market was also slightly down on a year over year basis. Residential product sales were 2 per cent below the prior year period,” said Daniel K Frierson, chairman and CEO of Dixie.
According to Frierson, there was modest decline in residential replacement housing activity during the summer. Apparently, the floor covering market was also affected by a drop in consumer expectations and political uncertainty.
Speaking of the steps taken by the company to improve their sales, Frierson said, “We continue to reduce expenses to increase our efficiency and respond to the lower sales volumes. We continue to closely monitor our production schedules in an effort to minimise cost.” (RR)
Fibre2Fashion News Desk – India
Textiles | On 19th Apr 2018
The global economic upswing that began around mid-2016 has become...
Textiles | On 19th Apr 2018
Due to overwhelming response, the exhibition space has been increased ...
Apparel/Garments | On 19th Apr 2018
The Bangladesh Investment Development Authority (BIDA) is taking a...
Karin Ekberg
Leadership & Sustainability
Sustainable models are beneficial for brands, retailers and manufacturers
Claudia Kersten
Global Organic Textile Standard
‘GOTS is a very efficient supply chain management tool, especially for...
Yashiki Gumber
Sahiba Fabrics
Fabric does not restrict us from fashion trends
Eric Scholler
Groz-Beckert
The Indian market has huge potential in technical textiles, and by far,...
Mark Paterson
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Suresh Patel
Sidwin Fabric
Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...
Sidharth Sinha
Sidharth Sinha
<b>Sidharth Sinha</b> has contributed to the successful rebirth and...
Wendell Rodricks
Wendell Rodricks
"We should not compare India and the West. There are things we do that...
Adriano Goldschmied
AG Jeans
The hype around 'designer jeans' was created by him. And the new wave of...
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
Yes No SkipActive Poll
Do you see sustainability as a route to business growth?
YesTotal Votes: 103
Do you think adopting a sustainable approach will be a profitable move for your business?
Yes No SkipActive Poll
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
YesTotal Votes: 103
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
Yes No SkipActive Poll
Do you think adopting a sustainable approach will be a profitable move for your business?
YesTotal Votes: 103
Thanks for your valuable feedback. Claim your free latest sustainability e-book.
Active Poll
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
YesTotal Votes: 103