Floor & Decor reported a net income of $75.8 million in the first quarter of 2021, a 104.5% increase compared with the same period last year. Diluted earnings per share increased 102.9% to $0.71.
The company’s net sales increased $41% to $782.5 million. Comparable store sales increased 31.1%.
The retail company opened a record seven warehouse stores during the quarter, more than double the number opened during the same period last year. The company’s financial report noted that the pandemic had a material negative impact on the financial results during the first half of 2020.
“For the full year, we still expect to open 27 new warehouse stores, an increase of 20.3% from 2020,” CEO Tom Taylor stated. “We are pleased with the sales performance among all our store vintages, with many stores experiencing record weekly sales in the first quarter of fiscal 2021.”
