Floor & Decor (Atlanta, Ga.) reported $1.15 billion in net sales for the first quarter of 2026, a 0.7% decrease from $1.16 billion last year, while net income decreased 18.8%, from $48.9 million to $39.7 million.
Earnings per share were $0.37, down from $0.45 last year, a weaker result than the company was expecting, according to CEO Brad Paulsen.
"We are proud of how our teams executed our strategy in a challenging demand environment for big-ticket discretionary purchases, against a backdrop of elevated 30-year mortgage rates and heightened geopolitical tensions in the Middle East that contributed to higher gas prices and a decline in consumer sentiment," Paulsen said in a statement. "These dynamics resulted in our fiscal 2026 first-quarter earnings being weaker than we anticipated."
Comparable store sales decreased 3.7%.
The company opened six warehouse stores during the first quarter, ending the quarter with 276 warehouse stores, five design studios, and five distribution centers.
Read the full report here.
