Mohawk earnings rise

Retail Editor 2, May 6, 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 continued to remain positive in April. The commercial and hospitality business are also rebounding, the company said.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    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 Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!