Losses grow in 2018 for Dixie Group but company takes steps to meet changing market

Staff Photo by Angela Lewis/Chattanooga Times Free Press Nov 15, 2013--Johnny Grissom moves a roll of carpet Friday at the Dixie Group in North Georgia.

Losses widened last year for carpet maker Dixie Group Inc. as the floorcovering market continues to shift from carpets and rugs to hard surfaces, especially to the growing luxury vinyl flooring market.

The Dalton, Georgia-based company said Thursday its losses last year more than doubled from 2017, but Dixie CEO Dan Frierson said he expects the company's profit improvement plan should improve results later this year.

Dixie reported a net loss of nearly $22.4 million, or $1.36 per share, on sales of $405 million in 2018. A year earlier, Dixie had a net loss of nearly $9.6 million, or 60 cents per share, on sale of $412.5 million.

Fourth quarter net losses totaled nearly $13.7 million, or 87 cents per share, compared with nearly $9.5 million, or 60 cents per share a year earlier.