By Sabela Ojea
Mohawk Industries said it saw more conversion issues than expected from the new order management system the company adopted for its Flooring North America segment.
Shares were down 5.5% to $123.58 in afternoon trading on Friday. The stock has increased 23% over the past 12 months.
The flooring manufacturer on Friday said that the majority of the system processes have been corrected, but that normal service levels were interrupted by delays and errors in both shipments and invoicing.
The company is currently working on addressing those errors and improving its processes.
"Our manufacturing and distribution operations are functioning at historic levels," Mohawk said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 24, 2025 15:56 ET (20:56 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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