Floor & Décor announced it had a net income of $116.2 million in 2018, a 13 percent increase compared with 2017.
The company’s net sales grew 23.5 percent during the fiscal year, rising to $1.7 billion.
With 17 new stores opening in 2018, Floor & Décor’s comparable store sales jumped 9.2 percent from 2017 and marked its sixth consecutive year of 20 percent new store growth.
“This is a significant milestone for our company, as we continue down a path towards 400 potential stores,” CEO Tom Taylor said in a statement.
The company’s fourth quarter net income decreased 62.7 percent compared with the fourth quarter of 2017 to $17.9 million. Its fourth quarter sales increased 12.1 percent to $436.7 million. The company opened five new stores during the quarter, ending with 100 warehouse-format stores. Diluted earnings per share was $0.17 compared with $0.46 in the fourth quarter of 2017.
Related:
Floor & Décor to Relocate Georgia Headquarters, Add 500 Positions
Floor & Décor Opens 1.4 Million Square-Foot Distribution Center
