Floor & Decor Holdings, Inc. - FND STOCK NEWS

Floor & Decor Holdings, Inc. (NYSE:FND) announced the promotion of Trevor Lang from Chief Financial Officer to President, effective upon the appointment of a new CFO. Lang joined the company in 2011 and has played a crucial role in managing its Pro and commercial business. CEO Tom Taylor emphasized Lang's extensive knowledge of the company's operations and strategy as key to his new role. The company is actively seeking a new CFO from both internal and external candidates.

Floor & Decor announced a 26.7% increase in net sales for Q2 FY2022, reaching $1,089.8 million, with comparable store sales growing 9.2%. Despite a 1.3% decline in diluted EPS to $0.76, adjusted diluted EPS rose 4.1%. Operating income was $106.4 million, an increase of 8.0%, though operating margin fell 170 basis points to 9.8%. Looking ahead, the company projects net sales between $4,290 million and $4,330 million for the fiscal year, with diluted EPS forecasted at $2.65-$2.80.

Floor & Decor (NYSE: FND) will open a new location in Capitol Heights, Maryland, on August 5, 2022, expanding its nationwide presence. The store will employ approximately 50 associates, offering a wide selection of hard-surface flooring and free design services. The grand opening includes a $5,000 Floor Makeover Sweepstakes and promotions for professionals in the construction industry. As of March 31, 2022, Floor & Decor operates 166 stores across 34 states, providing customers with diverse flooring options sourced from global manufacturers.

Floor & Decor Holdings (NYSE: FND) will announce its Q2 fiscal 2022 financial results on August 4, 2022, post market close. A conference call is set for 5:00 p.m. Eastern Time to discuss the results, with a live audio webcast available at ir.flooranddecor.com. A recording of the call will be accessible three hours later, available online and by dialing 877-660-6853 until August 11, 2022.

Floor & Decor (NYSE: FND) announces the grand opening of its new location in West Hartford, Connecticut, on July 7, 2022. This facility features a warehouse and design center, employing approximately 50 staff. Chief Executive Merchant Kim Bova expressed excitement for serving both professional customers and homeowners with a wide selection of flooring options. The store will host a $5,000 Floor Makeover Sweepstakes and a special Pro VIP Grand Opening event on July 14.

As of March 31, 2022, Floor & Decor operates 166 stores across 34 states.

Floor & Decor is set to open a new store in Wilmington, North Carolina on June 6, 2022, expanding its presence nationwide. The store will serve both home and professional customers, offering a wide range of hard-surface flooring options and services. As part of the grand opening, a $5,000 Floor Makeover Sweepstakes will be held, starting May 30 and ending July 3. A special event for professionals is scheduled for June 30, promoting relationships with builders and contractors. Floor & Decor operates 166 stores across 34 states as of March 31, 2022.

Floor & Decor (NYSE: FND) will open a new 85,000 sq. ft. location in Parkville, Maryland on June 2, 2022. The store aims to provide extensive flooring options for both homeowners and professionals, featuring in-stock products and free design services. The grand opening includes a $5,000 Floor Makeover Sweepstakes starting May 26 and a Pro VIP event on June 23 targeting builders and contractors. Floor & Decor continues to expand its footprint, operating 166 stores across 34 states as of March 31, 2022.

Floor & Decor Holdings, Inc. (NYSE: FND) announced its participation in the Baird 2022 Global Consumer, Technology & Services Conference on June 7, 2022, at 1:25 p.m. Eastern Time. The presentation will be available via live webcast on the Company’s Investor Relations website, with an archive accessible thereafter. As of March 31, 2022, Floor & Decor operates 166 warehouse-format stores and five design studios across 34 states, offering a wide variety of in-stock hard-surface flooring and related products at competitive prices.

For the first quarter of fiscal 2022, Floor & Decor reported a 31.5% increase in net sales, reaching $1,028.7 million, with comparable store sales up 14.3%. However, diluted earnings per share decreased 7.0% to $0.66, and adjusted diluted EPS fell 1.5% to $0.67. Operating income dipped 2.1% to $94.0 million, while net income fell 6.4% to $71.0 million. The company reaffirmed its fiscal year outlook of net sales between $4,285 and $4,375 million.