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Interface (TILE) Launches a New Global Carpet Tile Collection

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FLOR, the premium design brand of Interface, Inc. (TILE - Free Report) , launched its Summer Collection.

Inspired by the trends of the season, the collection features a range of bold patterns and soothing neutrals to let individual design personalities shine. Also, it includes new carpet tile styles that emphasize artful living with unique prints, curved edges, and gentle hues.

The latest Summer Collection include —  Into The Wild, Penny For Your Thoughts, and Out Of Line.

Into The Wild is an area rug style available in a boldly refined animal print. Penny For Your Thoughts is an area rug style featuring playful dots and round shapes. Out Of Line is inspired by the ocean’s color palette.

James Pope, general manager at FLOR, said, “Our innovative carpet tile-based system is the perfect design solution for everyone. From those who want the ease of a pre-designed rug style to the DIY expert with an eye for custom creations, we make it easy for customers to create beautiful and functional interior spaces.”

Product Development: A Key Catalyst

Interface focuses on strategies that will help it to drive growth and gain market share. The primary strategies that the company follows include new product development and the achievement of its sustainability goals through low-carbon product offerings.

The company is making meaningful progress in driving its new product development strategy through the launch of new and improved products.

In February, FLOR unveiled a collaboration with the ready-to-wear fashion designer — Trina Turk — known for its bright colors and bold patterns. The Trina Turk X FLOR area rug collection includes five unique products — California Dreaming, Here Comes the Sun, Racquet Club, Twin Palms and Spiral Out. Influenced by her global travels and love for vintage materials, these five carpet tile styles bring the designer’s signature style into interior spaces.

Apart from new product development, Interface also focuses on maintaining its sustainability commitment by offering low-carbon flooring products. The company manufactures products with the lowest carbon footprint and recycled materials. This approach is appreciated globally as this also helps the company’s customers to achieve their sustainability goals.

In April, Interface introduced several new flooring collections for commercial interiors. Interface continued to expand its product portfolio, along with offering the lowest carbon footprint carpet tile products in the industry.

Zacks Investment Research
Image Source: Zacks Investment Research

Shares of this global flooring solutions company gained 28.1% so far this year compared with the Zacks Textile - Home Furnishing industry’s 12.1% growth.

Zacks Rank & Key Picks

Interface currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the Consumer Discretionary sector are:

SharkNinja, Inc. (SN - Free Report) : This company, headquartered in Needham, MA, operates as a product design and technology firm, providing diverse solutions for global consumers. Its product lineup encompasses cleaning appliances such as corded and cordless vacuums, along with other floorcare products. The company has experienced positive outcomes through its three-pronged growth strategy, which involves increasing market share in existing sectors, venturing into new and related categories, and expanding internationally. Significant contributions to its revenue growth have been observed in the cooking and beverage appliances, food preparation appliances, and other product categories.

SN currently sports a Zacks Rank #1 (Strong Buy). Earnings estimates for 2024 have increased to $3.81 per share from $3.60 over the past seven days. The estimated figure indicates 18.3% year-over-year growth. This company surpassed earnings estimates in the last three quarters, the surprise being 12.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Sleep Number Corporation (SNBR - Free Report) : Headquartered in Minneapolis, MN, this company provides sleep solutions and services in the United States. It has been reaping benefits from solid demand for smart beds. It has been accelerating strategic initiatives, strengthening competitive advantages, and creating meaningful value for customers, teams, business partners as well as shareholders.

SNBR, a Zacks Rank #1 company, earnings topped the consensus mark in three of the last four quarters, missed on one occasion, with the average surprise being 96%.

Flexsteel Industries, Inc. (FLXS - Free Report) : Based in Dubuque, IA, Flexsteel is a manufacturer, importer and online marketer of upholstered furniture for residential and contract markets in the United States. Despite ongoing challenges in the industry, primarily stemming from changes in consumer spending preferences away from home furnishings, the company has effectively managed its operations. It has capitalized on sustained productivity and cost-saving measures, maintained pricing discipline, and actively managed its product portfolio to its advantage. The company is expected to benefit from its growth strategy and new product introductions.

FLXS presently carries a Zacks Rank #2 (Buy). Earnings estimates for fiscal 2024 have increased to $2.09 per share from $1.95 over the past 30 days, depicting analysts’ optimism about the company’s prospects. The estimated figure indicates 140.2% year-over-year growth.

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