Floor & Decor reported a net income of $81.8 million in the second quarter of 2022, a 1.3% decline compared with the same period last year. However, net sales jumped 26.7% to $1.08 billion.
The company opened nine warehouse stores and closed one warehouse store during the quarter, bringing its total to 174 warehouse stores and five design studios.
CEO Tom Taylor called the second quarter results “better than expected” considering 2021’s record-setting sales and profits, as well as the current impact of inflation, rising mortgage rates and declining existing home sales. The full report can be found here.
Floor & Decor also announced the promotion of Trevor Lang to president. Lang previously served as the retailer’s executive VP and CFO. Lang’s promotion will take effect upon the appointment of a new CFO.
