Floor and Decor had a net income of $71.5 million in the first quarter of 2023, a 0.8% increase compared with the same period last year. The company’s net sales grew 9.1% to $1.1 billion.
The results demonstrated a “strong execution” of the retailer’s strategies, as well as the company’s ability to adapt to considerable year-over-year declines in existing home sales, CEO Tom Taylor stated.
“As consumers prioritize value and savings, we are capitalizing on our low prices and value options, our trend-forward broad assortments, in-stock job lot quantities, and superior customer service provided by our store associates,” Taylor added.
Floor and Decor will open its 200th warehouse store in May.
The company’s full financial report can be found here.
