Mohawk Earnings Rise

Retail Editor 4, Carole Sloan, May 10, 2011

CALHOUN, GA. - Despite flat sales, efficiency gains at Mohawk Industries help drive up first-quarter earnings.
     The flooring manufacturer reported net earnings of $23 million, or 34 cents per share, up 9.5% from earnings of $21 million, or 30 cents per share.
     Sales were $1.34 million for the quarter ended April 2.
     Chairman and ceo Jeffrey Lorberbaum said the outlook for the balance of the year is looking up.
     "In the U.S., both remodeling and home sales are expected to improve over last year, and non-residential investment is estimated to increase over 8% in 2011," he said.
     The company said residential order trends flipped into positive territory late in the first quarter and remained positive in April. The commercial and hospitality business are also rebounding.

Featured Video

  • Why you should go to Shanghai for Intertextile Home Textiles

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT digital edition

See the June 2017 issue of Home & Textiles Today. In this issue, we discuss how U.S, ports are gearing up for the future, and what to expect from second half trade shows. See details!