Floor & Decor reported a net income of $71.0 million in the first quarter of 2022, a 6.4% decline compared with the same period last year, when it recorded record sales and earnings. The retailer’s net sales for the first quarter of 2022 increased 31.5% to $1.02 billion.
The company opened six warehouse-format stores during the quarter.
“We also opened three design studios in the first quarter,” CEO Tom Taylor added in a statement. “We remain on plan to open nine warehouse-format stores in the second quarter and 32 total warehouse-format stores in fiscal 2022.”