Live Breaking News & Updates on Contract furnishings mart
Stay updated with breaking news from Contract furnishings mart. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
By Meg Scarbrough Few could have predicted what 2020 had in store. Heading into the year, flooring retailers and manufacturers alike were optimistic, predicting sales would exceed the prior year’s expectations, which had been less than ideal. But as COVID-19 forced shutdowns across the country, everything was turned upside down; retail sales dropped double digits in April alone, with some estimates saying flooring sales within the residential remodel sector were down 40%. Retailers were faced with unprecedented circumstances. While sales suffered early on, things now appear to be rebounding, and traffic for many is bouncing back. Despite setbacks in economic growth in the second quarter, economists expect a stronger third quarter.