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Apr 01, 2021
Floor & Decor Q1 2021 Earnings Report
Net sales increased by 41.0% and comparable store sales increased by 31.1%.
Key Takeaways
Floor & Decor Holdings, Inc. reported strong first quarter fiscal 2021 financial results, with net sales increasing by 41.0% to $782.5 million and comparable store sales increasing by 31.1%. Diluted earnings per share increased by 102.9% to $0.71, and the company opened a record seven new warehouse stores.
Net sales increased 41.0% to $782.5 million compared to the first quarter of fiscal 2020.
Comparable store sales increased 31.1% from the first quarter of fiscal 2020.
Operating income increased 105.6% to $95.9 million.
The Company opened seven new warehouse-format stores during the first quarter of fiscal 2021.
Floor & Decor
Floor & Decor
Forward Guidance
The company reaffirmed select annual guidance for new store openings and certain other financial measures.
Positive Outlook
- Depreciation and amortization expense of approximately $116 million to $118 million
- Interest expense, net of approximately $5 million
- Tax rate of approximately 24%
- Diluted weighted average shares outstanding of approximately 107 million shares
- Open 27 new warehouse-format stores and two small design studios