Challenges Plagued Flooring Industry in 2024 -- Market Talk

Dow Jones

Feb 07, 2025

1730 ET - The flooring industry faced a slew of challenges throughout 2024. Consumers limited large discretionary purchases as inflation, economic uncertainty and geopolitical tension weighed on confidence, Mohawk Industries CEO Jeff Lorberbaum says. At the same time, U.S. homes sales fell to a nearly 30-year low as lower interest rates had a negligible effect on housing turnover. New home construction was constrained, he says, and commercial investments slowed throughout the year. "These factors reduced market demand and created heightened industry competition for volume," Lorberbaum says, adding the company faced temporary shutdown costs as it was forced to manage production and inventory. Shares rise 3.3% after Mohawk's adjusted earnings beat estimates. (connor.hart@wsj.com)

(END) Dow Jones Newswires

February 06, 2025 17:30 ET (22:30 GMT)

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Consumers limited large discretionary purchases as inflation, economic uncertainty and geopolitical tension weighed on confidence, Mohawk Industries CEO Jeff Lorberbaum says. At the same time, U.S. homes sales fell to a nearly 30-year low as lower interest rates had a negligible effect on housing turnover. New home construction was constrained, he says, and commercial investments slowed throughout the year. \"These factors reduced market demand and created heightened industry competition for volume,\" Lorberbaum says, adding the company faced temporary shutdown costs as it was forced to manage production and inventory. Shares rise 3.3% after Mohawk's adjusted earnings beat estimates. (connor.hart@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 06, 2025 17:30 ET (22:30 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Challenges Plagued Flooring Industry in 2024 -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChallenges Plagued Flooring Industry in 2024 -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-02-07 06:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1730 ET - The flooring industry faced a slew of challenges throughout 2024. Consumers limited large discretionary purchases as inflation, economic uncertainty and geopolitical tension weighed on confidence, Mohawk Industries CEO Jeff Lorberbaum says. At the same time, U.S. homes sales fell to a nearly 30-year low as lower interest rates had a negligible effect on housing turnover. New home construction was constrained, he says, and commercial investments slowed throughout the year. \"These factors reduced market demand and created heightened industry competition for volume,\" Lorberbaum says, adding the company faced temporary shutdown costs as it was forced to manage production and inventory. Shares rise 3.3% after Mohawk's adjusted earnings beat estimates. (connor.hart@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 06, 2025 17:30 ET (22:30 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4095","symbol_name":"家庭装饰品","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2509738053","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2509738053","pubTimestamp":1738881000,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1730 ET - The flooring industry faced a slew of challenges throughout 2024. Consumers limited large discretionary purchases as inflation, economic uncertainty and geopolitical tension weighed on confidence, Mohawk Industries CEO Jeff Lorberbaum says. At the same time, U.S. homes sales fell to a nearly 30-year low as lower interest rates had a negligible effect on housing turnover. New home construction was constrained, he says, and commercial investments slowed throughout the year. \"These factors reduced market demand and created heightened industry competition for volume,\" Lorberbaum says, adding the company faced temporary shutdown costs as it was forced to manage production and inventory. Shares rise 3.3% after Mohawk's adjusted earnings beat estimates. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4095":"家庭装饰品","LU0205193047.USD":"SCHRODER ISF US SMALL & MID-CAP EQUITY \"A\" (USD)  ACC","MHK":"莫霍克工业公司","BK4191":"家用电器","BK4588":"碎股","ATER":"Aterian Inc.","BK4585":"ETF&股票定投概念","BK4563":"昨日强势股","LU0205194284.USD":"SCHRODER ISF US SMALL & MID-CAP EQUITY \"A\" (USD) INC AV"},"translate_title":"2024年地板行业面临挑战——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ATER":0.75,"MHK":0.9},"content_text":"1730 ET - The flooring industry faced a slew of challenges throughout 2024. Consumers limited large discretionary purchases as inflation, economic uncertainty and geopolitical tension weighed on confidence, Mohawk Industries CEO Jeff Lorberbaum says. At the same time, U.S. homes sales fell to a nearly 30-year low as lower interest rates had a negligible effect on housing turnover. New home construction was constrained, he says, and commercial investments slowed throughout the year. \"These factors reduced market demand and created heightened industry competition for volume,\" Lorberbaum says, adding the company faced temporary shutdown costs as it was forced to manage production and inventory. Shares rise 3.3% after Mohawk's adjusted earnings beat estimates. (connor.hart@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 06, 2025 17:30 ET (22:30 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}