Floor & Decor reported a net income of $283.2 million in fiscal 2021, a 45.3% increase compared with 2020. Net sales for the year increased 41.5% to $3.43 billion.
The company opened 27 new warehouse-format stores in 2021—20.3% growth compared with 2020. The company plans to open an additional 32 warehouse format stores in fiscal 2022.
“Despite the continuing challenges presented by COVID, widespread disruption in the global supply chain, and related cost headwinds, we delivered record full-year fiscal 2021 sales and earnings results,” CEO Tom Taylor said in a statement.
Floor & Decor’s net income for the fourth quarter of 2021 declined 12.7% compared with the same period last year. Net sales for the fourth quarter increased 26.4% to $914.3 million. The full report can be found here.
Floor & Decor also announced the promotion of Ersan Sayman to executive VP of merchandising. Sayman has worked at the company for 19 years and most recently served as senior VP of merchandising.
“Ersan is an extraordinary leader and has been instrumental in the tremendous growth of the company,” Floor & Decor President Lisa Laube said in a statement.
