The company's sales fell by 8%-10% in the first half of 2024, relative to the same period in 2023, because of weaker volumes across all of its business units. Higher consumer borrowing costs, tepid existing home sales, and relative weakness in the repair and remodel space continued to negatively affect Mannington Mills? residential segment. The company?s commercial segment, which also experienced a year-over-year (YoY) volume decline, continues to outperform its residential segment due primarily to the demand for its luxury-vinyl tile (LVT) and rubber flooring products. We believe the softness in residential housing will continue through the rest of FY 2024. As such, we expect Mannington Mills will continue to face volume headwinds before its demand improves in 2025. We
