Tarkett Reports 0.2% Net Sales Increase for NA Business, Down 2.2% Global
Paris, FR, April 29, 2020-Tarkett reported a global net sales decrease of 2.2% for Q1 2020.
For the U.S. business, a 0.2% increase in net sales was reported, and the company noted,
* like-for-like revenues were slightly better than anticipated
* improving trends in volume and mix during Q1 after a depressed Q4 2019
* growth in commercial carpet, excluding hospitality, already hit by travel restrictions in Q1
* residential activities down year-over- year
* limited impact of the lockdown measures implemented late March; construction considered essential in many states
As an update on pandemic actions, the company reported that, across the U.S., as of April 28, all sites were running except one in Canada, which is planned to restart May 4. One site in the U.S. was temporarily shut down in early April but has since reopened. In addition, the company produced sanitizer bottles in a Maryland facility and sewed medical gowns in a Georgia facility.
For the sports business, the company reported flat net sales globally, as well as
* like-for-like revenues down 3% in this seasonally low quarter
* slight growth in North America in spite of a tough comparison basis and some delays due to weather conditions
* EMEA activity affected by the Covid-19 outbreak with several projects halted in the second half of March
* Slow down in Australia due to bush fires and lockdown measures