The Dixie Group, Inc. (DXYN)

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Dixie Group Shares Rise 16% After Higher Sales Lead to 2Q Profit
10:54 am ET August 5, 2021 (Dow Jones) Print

By Chris Wack


Dixie Group Inc. shares rose 16% to $3.14 after the company reported a second-quarter profit on much higher sales.

The home furnishing company reported second-quarter earnings of $3.3 million, or 21 cents a share, compared to a loss of $7 million, or 47 cents a share, in the same period a year ago.

Sales for the quarter came in at $104.8 million, compared to last year's 60.1 million.

Dixie Group said sales of its residential floorcovering products rose 99%, due to a recovery after Covid-19 pandemic and strong growth in new and existing home sales. Sales volume in commercial markets has improved, but continues to be at lower levels.

The company said a ransomware attack in mid-April impacted operations and communications.


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