Dixie Group sales growth outpaces industry

Dixie Group sales growth outpaces industry

February 19th, 2014 by Dave Flessner in Local - Breaking News

Creeler Vickie Glover replaces an empty spool at the Dixie Group in North Georgia.

Photo by Angela Lewis/Times Free Press.

The Dixie Group, Inc. boosted fourth quarter sales nearly 35 percent from a year ago, helping the Chattanooga-based carpet maker to earn nearly $1.6 million from continuing operations in the final three months of 2013 compared with a $413,000 loss from continuing operations in the fourth quarter of 2012.

Dixie CEO Dan Frierson said he expects the overall carpet market to improve through 2014 and Dixie should continue to outpace the industry.

"The trend of rebounding housing and general market improvement is ongoing," Frierson said in the company's earnings release this morning. "We are optimistic that our growth will continue at greater than industry growth rates throughout 2014."

In the fourth quarter, Dixie residential product sales were up 30.5 percent on a year-over-year basis, while the market was only up in the mid-single digits, Frierson said. Commercial carpet sales for Dixie were up 45.5 percent for the fourth quarter on a year-over-year comparison, while the overall commercial market was only up in the mid-single digits basis.