Dixie Sales Down 4.1% YOY in 2024 on Net Loss of $13 Million

Dalton, GA, April 8, 2025-Dixie Group reported 2024 sales of $265 million, a 4.1% decline from 2023’s $276 million. 

In Q4 2024, net sales were $64.4 million, a 3.4% decline compared to $66.7 million in Q4 of the prior year. 

Net loss for 2024 was $13 million, compared to a net loss of $2.7 million in the prior year.

The net loss for Q4 2024 was $7.2 million, compared to a net income of $3.2 million in Q4 2023, which included an $8,198,000 gain on sale of an asset.

Commenting on the results, Daniel K. Frierson, chairman and chief executive officer, said, “The year over year 4% reduction in net sales was the result of an overall slowdown in the floorcovering industry driven by high interest rates which have dramatically impacted the housing and residential remodeling markets. In addition, overall consumer confidence has been unfavorably impacted by general economic uncertainty, which has led to delays in discretionary spending.

“We were able to achieve significant cost reductions in 2024 including the successful start up and operation of our extrusion line which allowed us to secure an internal source of raw materials at lower cost. Unfortunately, these decreases in expense were offset by unfavorable costs in medical expenses, utility costs, under absorbed fixed costs, and write downs of inventory in the fourth quarter. In 2025, we have measures in place to reduce the cost of our self-insured medical plan and we are taking steps to reduce utility costs. We are also planning further reductions in our sample costs in 2025 and reducing costs in our hard surface offerings through changes in sourcing products.

“Throughout 2024, we continued to invest in growth initiatives which have enabled us to gain market share in key areas. We experienced growth in our higher-end product offerings through our decorative programs and nylon carpet offerings under the Masland and Fabrica brands. We were also able to gain market share in residential polyester carpet through our DuraSilkSD polyester offerings under our DH Floors brand.”

The full annual report is available here.

Related Topics:The Dixie Group, Masland Carpets & Rugs