US firm Dixie Group continues growth momentum in second quarter

Second quarter (Q2) sales at The Dixie Group, a US-based manufacturer of luxury soft floor covering carpet and rugs, jumped 72.3 per cent to $104.8 million compared to sales of $60.8 million in the corresponding quarter of last fiscal. Operating income for the quarter ended on June 26, 2021, rose to $4.6 million (Q2 FY20: loss $5.6 million).

 

Second quarter (Q2) sales at The Dixie Group, a US-based manufacturer of luxury soft floor covering carpet and rugs, jumped 72.3 per cent to $104.8 million compared to sales of $60.8 million in the corresponding quarter of last fiscal. Operating income for the quarter ended on June 26, 2021, rose to $4.6 million (Q2 FY20: loss $5.6 million).#

“During the second quarter of 2021 we were able to build on the momentum we experienced through the end of the first quarter. Net sales of our residential floorcovering products were up 99.5 per cent, or close to double the comparable residential sales from the second quarter of 2020, comparing favourably to the industry which we believe was up approximately 50-55 per cent,” Daniel K Frierson, chairman and chief executive officer at Dixie Group, said in a press release.

 

Second quarter (Q2) sales at The Dixie Group, a US-based manufacturer of luxury soft floor covering carpet and rugs, jumped 72.3 per cent to $104.8 million compared to sales of $60.8 million in the corresponding quarter of last fiscal. Operating income for the quarter ended on June 26, 2021, rose to $4.6 million (Q2 FY20: loss $5.6 million).#

The group’s gross profit for Q2 doubled to $25.8 million ($12.2 million), while net income improved to $3.3 million (loss: $7.0 million). Dixie Group’s soft surface business grew 18 per cent during Q1 FY21 and hard surface business jumped 70 per cent compared to the same period of prior fiscal.

 

Second quarter (Q2) sales at The Dixie Group, a US-based manufacturer of luxury soft floor covering carpet and rugs, jumped 72.3 per cent to $104.8 million compared to sales of $60.8 million in the corresponding quarter of last fiscal. Operating income for the quarter ended on June 26, 2021, rose to $4.6 million (Q2 FY20: loss $5.6 million).#

“While many of our planned second quarter product launches were delayed by the ransomware attack, we were still able to launch some key products into the residential market. On the soft surface side, we launched four new TECHnique patterns in our Masland and Fabrica divisions. These are high-end patterns tufted on the latest tufting innovation in the market, and produced with EnVision66 fibre,” Frierson added. “On the hard surface side, we introduced two new key programmes in our luxury vinyl category. Trucor 3DP, a new collection of 12 wood and tile visuals in our Trucor family, is built on a SPC core, and features an enhanced digital print technology.”

 

Second quarter (Q2) sales at The Dixie Group, a US-based manufacturer of luxury soft floor covering carpet and rugs, jumped 72.3 per cent to $104.8 million compared to sales of $60.8 million in the corresponding quarter of last fiscal. Operating income for the quarter ended on June 26, 2021, rose to $4.6 million (Q2 FY20: loss $5.6 million).#

“Our residential floorcovering sales and orders for the first 5 weeks of the quarter have continued at a very strong pace, well ahead of the same period a year ago. Both residential sales and orders are approximately 30 per cent ahead of sales and orders last year and 2019 as well. Due to increased cost pressure on many fronts, industry wide price increases were announced during the later half of the second quarter,” Frierson said in the release.