Business Briefs: Dixie Group reports quarterly loss

Business Briefs: Dixie Group reports quarterly loss

July 29th, 2014 by Staff Reports and Wire Service in Business Around the Region

Dan Frierson, Dixie Group

Dan Frierson, Dixie Group

Photo by Staff File Photo /Times Free Press.

Dixie Group reports quarterly loss

The Dixie Group Inc. lost $605,000, or 4 cents per share, from continuing operations in the second quarter.

The Chattanooga-based carpet company said Monday that sales rose 29.4 percent to $108.2 million in the spring quarter, boosted by the March acquisition of Atlas Carpet Mills and gains in market share.

Dixie CEO Dan Frierson called the second quarter a transition period "with operations improving throughout the quarter but still not fully up to expectations." Dixie shut down its Atlas dye house in May and accelerated its planned closing of its carpet and yarn dyeing operation in Atmore, Ala.

The company also is reorganizing its warehouse distribution following the Atlas purchase.

Income from continuing operations, excluding manufacturing integration, facility consolidation, asset impairment and acquisition related expenses, was $772,000, or 5 cents per share. Shares in Dixie closed Monday down 31 cents per share, or 3.5 percent, to $8.56 per share.

Publix to open on North Shore

Publix Super Markets announced Monday it will open its North Shore grocery at 7 a.m. Wednesday, Aug. 6 and will give the first 50 customers who buy at least $50 of groceries a free bag of groceries valued at $25.

The 45,800 square-foot store, which will employ 125 workers, will have the traditional grocery, dairy and frozen food departments along with a full-service meat department, seafood counter, bakery, deli, pharmacy and produce department offering both organic and conventionally grown fruits and vegetables.