>>
Home / Knowledge / News / Apparel/Garments / Dixie Group reports net sales of $100.394 mn in Q2 2019

Dixie Group reports net sales of $100.394 mn in Q2 2019

09
Aug '19
Pic: Dixie Group
Pic: Dixie Group
The Dixie Group, a marketer and manufacturer of carpet and rugs, reported net sales of $100.394 million in Q2 2019 ending June 29, 2019, down 5.7 per cent from $106.438 million in Q2 of 2018. For the second quarter of 2019, the company reported a loss of $1.216 million or $0.07 per diluted share, compared to $1.815 million or $0.12 per diluted share in 2018.

The gross profit for the second quarter of 2019 was 23.4 per cent of net sales as compared to a gross profit of 23 per cent in the second quarter of 2018, said Dixie Group in a press release. Included in its cost of sales for the period was $202 thousand in inventory write downs related to restructuring. The company is still running high backlogs in its commercial business as it overcomes the effects of moving its commercial tufting operations from the west coast to its Atmore, Alabama facility. Dixie anticipates those to be back to normal later this summer.

"We began our Profit Improvement Plan in late 2017. This plan included a review of all of our business processes though the primary focus was on the restructuring of our commercial business. Subsequent to our starting this plan, Invista made the decision to exit the production of most piece dyeable yarns for the commercial market. This decision, therefore, caused us to expand the commercial restructuring to be a complete integration of all aspects of the business. As a result of this action, we have completed the combination of our Atlas and Masland business into one commercial business, now known as Atlas | Masland Contract. In order to accomplish the cost reductions and combine our commercial business, we have expensed over $17 million of restructuring related charges to date which have been reflected in our statements of operations since 2017. As mentioned above, without these costs in the second quarter, the company was profitable. Costs related to the plan are nearly complete and will be at a much lower level in the future. We look forward to completing the Profit Improvement Plan in the second half of 2019," said Daniel K Frierson, chairman and chief executive officer of Dixie Group.

"Our residential sales were down 2.6 per cent for second quarter of 2019. Residential soft surface products were down 4.1 per cent while we estimate our segment of the soft surface market was down high single digits. Residential hard surface sales were up 48 per cent while we estimate the industry was up low double digits, added Frierson.

Our strongest residential sales growth was in hard surfaces where we continued gaining traction in the luxury vinyl flooring and engineered wood flooring segments. Our new Trucor SPC programme has begun to gain traction in the market. We will be expanding our Fabrica wood programme during the second half of 2019. Our EnVision 6,6 nylon programme continues growing nicely. In the third quarter of 2019, we will continue to expand our placement of this programme in the specialty retail channel. Our EnVision 6,6 nylon products are well styled, and feature type 6,6 nylon for durability, stain, and soil resistance which stands up to the most demanding applications."

"In April 2019, we launched Masland California Classics. This collection of 16 styles is finished and distributed out of our Santa Ana, California facility. In our Dixie Home line, we are expanding the Pacific Living Quick ship programme, growing our footprint from 10 to 19 styles with new retail displays and updated colours. Our Masland and Dixie Home customers in the western US will benefit from these programme expansions.

Our commercial business in the second quarter was down 13.7 per cent while the industry we believe was up the in the low single digits. Our commercial team has a number of new offerings for 2019 with particular emphasis on new modular carpet tile offerings. Our new Sustaina modular carpet tile backing system, a PVC and polyurethane free backing system was created for the specifier who desires both the most sustainable construction and performance in high relative humidity environments, thus allowing quicker installation on new concrete surfaces. The Crafted Collection will launch in the third quarter of 2019 using this new backing system. Further, Crafted will have over 80 per cent recycled content with 100 per cent recycled content in the face fibre," Frierson concluded. (PC)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 21st Jan 2022

China to optimise energy production, supply, storage, sales

As the global energy market faces complicated situations, China’s top ...

Pic: Dreamstime.com

Apparel/Garments | On 21st Jan 2022

Bangladeshi garment, accessory makers form joint panel to boost export

The Bangladesh Garment Manufacturers and Exporters Association, the...

Pic: Shutterstock

Textiles | On 21st Jan 2022

New cargo trains link China's Inner Mongolia, Fujian to Moscow

A new cargo train carrying 50 containers departed on January 12 from...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Instagram & fashion will go a long way together

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Juan Pares Boj,

Juan Pares Boj

Textil Santanderina is a cutting-edge textile company located in...

Abdullah Mohammad Saad Hossain,

Abdullah Mohammad Saad Hossain

Saad Group is a leading vertically integrated textile group in Bangladesh. ...

Chini Chouhan,

Chini Chouhan

Founded by Chini Chouhan, her eponymous brand specialises in women's...

Silke Brand-Kirsch, Glatfelter

Silke Brand-Kirsch
Glatfelter

Glatfelter is a leading global supplier of engineered materials. <b>Silke...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Manish Malhotra, Label Manish Malhotra

Manish Malhotra
Label Manish Malhotra

A multitalented designer and founder of an eponymous label, Manish...

Carmen Emanuela Popa, Label - Carmen Emanuela Popa

Carmen Emanuela Popa
Label - Carmen Emanuela Popa

<b>Carmen Emanuela Popa,</b> a Romanian fashion designer, is known for her ...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Reiter India Private Limited
Lisa S.P.A.
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Hela Clothing Pvt Ltd
Boardriders Asia Sourcing Limited
Hirdaramani International Export Private Limited
Maceton Limited
BIANCA
Abit
Phong Phu international JSC (PPJ)
Aramark Uniform ;& Career Apparel, LLC
Helly Hansen Far East Ltd
Amazon China
Benetton Group
Splash
The Top Form Brassiere Manufacturing Company Limited
Tommy Hilfiger
Recron Polyester from Reliance Industries Limited
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Seasalt Limited
PVH Corporation
Alix Partners
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
NITI Aayog
Alison Hayes Romania
Truetzschler India Private Limited
C;&A Sourcing International Ltd
Cat Tuong Real Estate Group Joint Stock Company
KAS Direct Sourcing
Sainsbury's Argos Asia Limited
SYNERGIES HONG KONG LIMITED
Gokaldas Exports Limited
Asos
THE BOMBAY DYEING ;& MFG.CO. LTD
Rayonese Textile Inc., Division de Culp Inc.
Arvind Limited
Chori Company Limited
Green Fibre
Puma
Gap International Sourcing Limited
Sateri (Jiujiang) Fiber Co.,Ltd
T.T. Limited
TESCO INTERNATIONAL SOURCING LIMITED
Landmark Group
Lifestyle
Calvin Klein
Tchibo GmbH
Walmart
Lenzing Aktiengesellschaft
Restoque S.A.
Chico’ FAS
Groz-Beckert East Asia LLP
Page Industries Limited (Bangalore)
Etam Group Strategy Hong Kong Limited
Vardhman Textile Ltd
Gatsby Africa
LC Waikiki
G-Star Raw C.V.
Huntsman (Singapore) Pte Ltd
SHAHI Exports Pvt Ltd
Lacoste (Wanchai)
The LYCRA Company Singapore  Pte. Ltd
Aquarelle Clothing Limited
OVS Hong Kong Sourcing Ltd.
International Textile Manufacturers Federation
Under Armour Global Sourcing Ltd
John Varvatos
KIABI
Target Corporation (MN)
BIMBA ;& LOLA SL
Desigual - ABASIC, S.A.
Rosset ;& Cia Limited
Varner AS Retail
IKEA of Sweden AB
MAS Active / MAS Kreeda / MAS Bodyline
Guess Europe Sagl,
Vianney Textil Hogar S.A. De C.V.
IDH – The Sustainable Trade Initiative
Sportmaster Ltd.
Gloria Jeans
Babyshop
Tory Burch Hong Kong Ltd
Esprit Europe Services GmbH
J ;& P Coats
Midas Clothing Limited
Grasim Industries Limited
H;&M Hennes ;& Mauritz (Far East) Ltd
Bluestem Global Sourcing Limited
Sportswear Company Spa
Lululemon Athletica Inc

January 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search