Floor & DĂ©cor (Smyrna, Ga.) had a net income increase of 9.4% in the second quarter of 2019, with profits of $43.6 million.
The company’s net sales also saw an increase in the second quarter, growing 19.8% to $520.3 million. Diluted earnings per share climbed to $0.42, a 10.5% increase compared with the same period in 2018.
“We delivered earnings per share that exceeded the high-end of our guidance primarily as a result of robust sales growth from our new stores, higher product gross margin, as well as lower operating expenses, which led to strong earnings flow through,” CEO Tom Taylor said in a statement.
The company opened three stores and relocated one since the second quarter of 2018, and currently has 106 warehouse-format stores. It plans to open 20 new warehouse stores by the end of fiscal 2019.
