The industry overall has lost 20% in sales since then, Davis said. He declined to disclose overall revenue currently, but said it still is more than $500 million even though sales are down 3%. Employee count also is down: 1,800 now, compared with 1,900 in 2022.
The Tile Shop’s sales were down 3% in the spring, with profits falling as well, it reported last week. CEO Cabell Lolmaugh said the company cut one-third of its corporate workforce and closed two distribution centers as it restructures.
Both companies are dealing with higher tariff costs at the same time the industry is now dealing with historically low housing turnover.
Alicia Rodriguez, a Cambria employee, makes sure each slab is level at Cambria's facility in Le Sueur on Nov. 7, 2022. (Renée Jones Schneider/The Minnesota Star Tribune)
While Cambria is moving most of its processing to the Randolph site, it still is importing the quartz from its mines in Quebec.
President Donald Trump raised tariffs on Canadian goods and materials to 25% earlier this year and again on Aug. 1 to 35%.
“We are going to pay a higher tariff but we are not complaining about it,” Davis said. “We estimate it could cost us a few million a year.”