Barry Blank

Barry Blank inquired about the current status of the company's stock buyback program, the extent of industry consolidation, and recent shifts in consumer purchasing habits between large retailers and specialty stores.

Answer

Executive Daniel Frierson responded that the stock buyback program was discontinued in late 2024. He stated that while some smaller retailers have closed, there has not been significant consolidation among manufacturers or distributors. Frierson also noted that premium products, such as the company's Fabrica brand, are outperforming the general market, which is a typical trend during an economic downturn.

Barry Blank inquired about the status of the company's stock buyback program, the level of consolidation within the flooring industry, and any shifts in consumer purchasing habits between big-box stores and specialized retailers.

Answer

Executive Daniel Frierson clarified that the stock buyback program was ceased during the latter part of the previous year. He stated that significant consolidation has not been observed at the manufacturer or distributor level, though some smaller retailers have gone out of business. Frierson also noted that premium products, such as the company's Fabrica brand, are outperforming the broader market, which is a typical trend during a downturn.

The analyst provided comments advocating for the company to uplist to a major exchange like Nasdaq. He highlighted that such a move would increase investor access, as many brokerage firms restrict trading in low-priced OTC stocks, and would also allow investors to borrow against their securities.

Answer

The executive agreed completely with the analyst's points, acknowledging the trading restrictions and recognizing that increased liquidity is a primary advantage of uplisting. He confirmed that it is a priority that the company is actively evaluating.