Armstrong Issues Third Quarter Warning

New York, NY, Oct. 14, 2014 -- Armstrong World Industries became the second public flooring company to issue a third quarter profit warning.

Yesterday the firm cut its forecast, citing price pressures in Europe and a market shift in North America toward luxury vinyl tile.

Armstrong said its European flooring business was also hurt by "capacity utilization challenges," while U.S. markets are moving faster than expected to LVT from other products.

Also, Armstrong said price pressures are hurting its wood flooring business but said its North American commercial flooring businesses are meeting targets.

Armstrong cut its full year sales forecast to $2.68 million to $2.72 million, down from $2.7 million to $2.8 million.

Interface has also issued a warning.

Related Topics:Interface, Armstrong Flooring