Floor & Decor just reported strong revenue growth for the second quarter ending June 30. Net sales increased 26.7%, reaching $1.1 billion with comparable store sales up 9.2% year-over-year.
Explaining that the 2021 comparables faced in the second quarter were the “hardest” for the year, CEO Tom Taylor announced earnings per share of $0.76 were better than expected, giving the company’s stock a 13.5% bump in Friday’s trading to end at $92.92.
Through the first half of 2022, total sales are up 29%, topping $2.1 billion, though net income was down 3.7%, declining from 9.7% to 7.2%.
Looking to the end of the year, the company forecasts sales to reach $4,290 to $4,330 million – approximately 25% over $3,433.5 million in 2021 and more than double sales of $2 billion in 2019. Comparable store sales growth is guided in the 10% to 11% range.
