Floor & Decor Holdings, Inc. reported its financial results for the thirteen weeks ended March 27, 2025, revealing a net sales increase of $1,160.7 million, up 5.8% from $1,097.3 million in the same period last year. The company's gross profit also rose to $508.2 million, reflecting an 8.1% increase compared to $470.0 million in the prior year. However, net income decreased slightly to $48.9 million, down 2.3% from $50.0 million a year earlier, resulting in basic and diluted earnings per share of $0.45, compared to $0.47 and $0.46, respectively, in the previous year.
The increase in net sales was primarily attributed to the addition of 30 new warehouse-format stores since March 2024, which contributed significantly to revenue growth. However, comparable store sales experienced a decline of 1.8%, driven by a 3.8% decrease in transactions, which the company attributed to lower existing home sales. The average ticket size increased by 2.1%, indicating a shift in sales mix. The company ended the quarter with 254 warehouse-format stores and five design studios across 38 states.
Operationally, Floor & Decor's selling and store operating expenses rose by 10.3% to $368.8 million, largely due to costs associated with new store openings. General and administrative expenses increased by 3.5% to $69.1 million, while pre-opening expenses decreased significantly by 37.5% to $6.0 million, reflecting fewer new store preparations compared to the previous year. The company reported a decrease in net interest expense, which fell by 20.8% to $1.5 million, attributed to lower average interest rates and outstanding borrowings.
Looking ahead, Floor & Decor plans to invest between $310 million to $360 million in capital expenditures for fiscal 2025, focusing on opening new stores, enhancing distribution centers, and upgrading technology infrastructure. The company anticipates that cash generated from operations, along with available borrowings under its $800 million asset-based loan facility, will be sufficient to meet its liquidity needs and support its growth initiatives. The company remains cautious about potential impacts from global trade policies and tariffs, particularly given that a significant portion of its products is sourced internationally.
About Floor & Decor Holdings, Inc.
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