Floor & Décor’s net income increased 186.4 percent in the first quarter of 2018 compared with the same period last year, jumping from $11.1 million to $31.9 million.
The company’s net sales rose 31.1 percent compared with last year, growing to $402.9 million. Comparable store sales increased 15.6 percent, and diluted earnings per share increased 130.8 percent, from $0.13 to $0.30. Floor & Décor opened one new store during the quarter and ended the quarter with 84 warehouse-format stores.
CEO Tom Taylor said in a statement that the company’s sales were above expectations. “As we look to the remainder of 2018 and beyond, we remain focused on executing our key growth strategies as we capitalize on the significant growth opportunity that exists for Floor & Décor.”
