Floor & Decor Holdings reported Thursday that its fourth-quarter profit rose 28.1% to $47.5 million despite ongoing macroeconomic challenges in the home improvement sector.
The Atlanta-based specialty flooring retailer posted net sales of $1.11 billion for the quarter ended December 26, 2024, up 5.7% from $1.05 billion a year earlier. Comparable store sales declined 0.8%.
Diluted earnings per share increased 29.4% to $0.44, including a $0.05 benefit from litigation settlement proceeds. The company’s operating margin improved 100 basis points to 5.4%.
“Our fourth quarter and full-year results demonstrate the resiliency of our business model,” said CEO Tom Taylor, noting that earnings and comparable store sales exceeded expectations despite industry headwinds.
The company maintained its expansion pace, opening 10 new warehouse stores in the fourth quarter to end 2024 with 251 locations across 38 states. Floor & Decor plans to open 25 new stores in fiscal 2025.
Looking ahead, the company expects fiscal 2025 net sales between $4.74 billion and $4.9 billion, with comparable store sales ranging from flat to 3% growth. The retailer projects earnings per share of $1.80 to $2.10.
For the full year 2024, net sales increased 0.9% to $4.46 billion, while net income decreased 16.3% to $205.9 million amid a challenging retail environment that saw comparable store sales decline 7.1%.
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