![]() ![]() Its super-size allows customer-friend displays of its full range of tile, wood, laminate, vinyl, natural stone, decorative accessories and installation products. Its flagship warehouse store model averages 78,000 square feet. More stores, more sales, more shareĪs important as its e-commerce business is, Floor & Decor is all about the stores. Net income increased 64.7% in 2021, reaching $283.2 million and adjusted EBITDA grew 50.2% to $485.1 million. ![]() ![]() Its connected customer strategy complements its in-store business, with nearly 80% of web sales and almost 90% of web orders being picked up in the stores during the fourth quarter. Nonetheless, the year culminated 13 years of steady comparable store sales growth.Į-commerce continues to be a growth driver, up 30.2% year-over-year and now accounting for 16.1% of sales as compared with 9.4% in 2019. Comparable store sales rose 27.6% over previous year, which is way above levels of 5.5% in 2020 and 4.9% in 2019. Net sales increased 41.5% over fiscal 2020 and 68% over pre-pandemic 2019. Simply said, we don’t believe anyone offers the breadth of in-stock product, visual inspiration, compelling assortment or services we offer and certainly not at our prices,” he said.Īnd he added that the company expected to “judiciously” raise retail prices through 2022, all the while growing its margin rate throughout the year, aiming for 41% over the 38.8% it achieved in fourth quarter 2021. “As we study the market and our competition, we believe our holistic value proposition is the best it has ever been. Taylor noted that an industry report found the average square footage price for hard surface flooring went up 8% in the fourth quarter and said, “Our price increases were nowhere near that.”Īcknowledging uncertainties caused by the Russian invasion of Ukraine and other geopolitical events, as well rising mortgage interest rates and continued inflationary pressures, Taylor asserted the company was well positioned. Price increases caused by higher supply chain costs are factored into its guidance, but those increases will be modest. ![]()
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