Armstrong Flooring (Lancaster, Pa.) announced it would increase its prices on solid hardwood products in the U.S. and Canada by 5-7 percent in May.
The scheduled price hikes are due to increases in raw material costs, along with energy, transportation and operating cost inflation, according to the company.
“We expect this cost pressure to increase throughout 2018,” said Armstrong Senior Vice President of North American Sales Brent Flaharty in a statement.
The wood flooring giant’s announcement came a day before it released its year-end financial earnings, in which it reported a net income loss of $41.8 million in 2017.
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