Floor & Decor Profits Slide 46.4% in Q4 2023

Floor & Decor reported a net income of $37.1 million in the fourth quarter of 2023, a 46.4% decline compared with the fourth quarter of 2022.

The company’s net sales of $1.04 billion remained flat compared with the same period last year.

CEO Tom Taylor called the results “better than expected” and said the company is pleased with how its teams are collaborating in its sales-driving initiatives.

“We are particularly proud of accomplishing these results when existing home sales are at record lows, and flooring industry sales continue to contract,” Taylor stated. “As we look to 2024, we remain focused on growing our market share by continuing to capitalize on our everyday low prices and value-driven options, trend-right product assortments, in-stock job lot quantities, and the exceptional customer service provided by our store associates.”

Floor & Decor opened 14 warehouse format stores in the fourth quarter of 2023 and 31 total new warehouse format stores in fiscal 2023, ending the year with 221 stores and five design studios across 36 states.

The company’s full fourth quarter report can be found at this link.

Page 1 of 798
Next Page
Resource Book
Looking for a specific product or a company? Wood Floor Business has the only comprehensive database of the industry.
Learn More
Resource Book
Podcasts
All Things Wood Floor, created by Wood Floor Business magazine, talks to interesting wood flooring pros to share knowledge, stories and tips on everything to do with wood flooring, from installation, sanding and finishing to business management.
Learn More
Podcasts