Tarkett brings choice to commercial luxury planks
Tarkett is introducing its I.D. Freedom Luxury Planks and Tiles, a highly customizable flooring collection for new and retrofit commercial spaces.
The luxury vinyl flooring market is crowded, and with so many choices available, selecting one product or brand can be challenging," said Jeremy Salomon, product manager for Tarkett. "But with I.D. Freedom, we have given designers the freedom to express their creativity. Our coordination capabilities are truly unmatched across all resilient flooring and accessories in the Tarkett commercial portfolio. It’s one of the reasons Tarkett is so successful, and we continue to build on that success by offering designers more choice through flooring systems like I.D. Freedom."
The flooring line includes more than 90 SKUs, featuring natural materials and unexpected designs, such as steel bamboo stalks and tiger-striped wood grain. The planks and tiles come in various sizes to create more flexibility in the design process.
The I.D. Freedom flooring products are made with a hard-wearing reinforced polyurethane surface treatment, 20 mil wear layer and 1/8-in. gauge. They are also made with 53% pre-consumer recycled content, are FloorScore certified and are largely phthalate-free.
Carpet One and Mohawk partner with Building for America’s Bravest
Carpet One Floor & Home and its partner, Mohawk, have formed a new alliance with Building for America’s Bravest, a program that builds custom-designed smart homes for injured service members.
The two companies will provide flooring and installation for the program, which has 49 new homes scheduled for completion over the next three years.
“At CCA Global Partners, we encourage charitable contributions and involvement from all our employees and businesses,” said Howard Brodsky, co-CEO of CCA Global Partners. “Carpet One’s involvement with Building for America’s Bravest gives our employees and our cooperative members the opportunity to help this inspiring organization in some way — from working hands-on with a project to helping raise funds and awareness.”
The homes are not only designed to fit the individual needs of their inhabitants; they are also energy-efficient and equipped with the latest technology in home automation.
Carpet One and Mohawk are already working on the first home, which is being built for Sgt. Michael Nicholson in Tampa, Fla.
Tile Shop under fire for allegations of inflated earnings
Shortseller Gotham City Research claimed Thursday that Tile Shop Holdings had exaggerated its earnings in its most recent financial report.
The Nov. 14 report alleged that Beijing Pingxiu, the company’s largest supplier, is covertly run by Fumitake Nishi, who is the brother-in-law of Tile Shop CEO Robert Rucker as well as a Tile Shop employee. Gotham City claims that the undisclosed relationship, which it discovered through government trade data, has resulted in earnings that are overstated by more than 200%, taking inaccuracies into account that are related to inventories, cost of sales and gross profits. BP also allegedly sells at or near cost to the Tile Shop, resulting in an artificial cost advantage.
The Tile Shop released a formal statement denying these allegations, as well as the charge of transferring stock to BP, and confirmed its intentions to investigate the matter.
"The company negotiates all inventory purchases directly with each vendor," read the statement. "As is common practice, certain vendors utilize an export trading company, such as Beijing Pingxiu, for sales to U.S.-based companies. Other Chinese vendors maintain their own export licensing authority. The company has been made aware of changes of the ownership of Beijing Pingxiu, which were not previously disclosed to the company. As a result of this disclosure, the company has suspended its relationship with this entity."
The Tile Shop reaffirmed full-year sales guidance of $227 million to $237 million in the Nov. 14 statement, which were originally provided in the Oct. 30 financial earnings report.
At press time, shares of Tile Shop (TTS) had declined by nearly 39% to $12.95. Gotham City said it expected to profit from the decline in Tile Shop shares.