Floor & Decor reported net sales of $1,117.9 million in the third quarter of 2024, a 0.9% increase compared with the third quarter of 2023.
The company’s net income was $51.7 million in the third quarter of 2024, down 21.6% from $65.9 million in the third quarter of 2023.
Earnings per share was $0.48, down 21.3% from $0.61 in the third quarter of 2023.
In the third quarter, the company opened 11 warehouse stores, ending the quarter with 241 warehouse stores and five design studios.
Meanwhile, operating income decreased 21.8% from $84.8 million in the third quarter of 2023 to $66.3 million in the third quarter of 2024.
“We are incredibly proud of how our store and store support teams executed our plans and managed costs during a period when demand for large project discretionary home improvement and hard surface flooring spending remained challenging,” Floor & Decor CEO Tom Taylor said in a statement. “In the face of these challenges, the hard work and dedication of our associates enabled us to deliver fiscal 2024 third quarter diluted earnings per share of $0.48, which exceeded our expectations.”
Read the full report here.
