Diluted EPS was $0.66 compared to $0.71 in the first quarter of fiscal 2021, a decrease of 7.0%.Īdjusted net income* decreased 1.5% to $71.6 million compared to $72.7 million in the first quarter of fiscal 2021.

Net income decreased 6.4% to $71.0 million compared to $75.8 million in the first quarter of fiscal 2021. Operating margin decreased 320 basis points to 9.1%. Operating income decreased 2.1% to $94.0 million from $95.9 million in the first quarter of fiscal 2021. We opened six new warehouse stores and three design studios during the first quarter of fiscal 2022, ending the quarter with 166 warehouse stores and five design studios. Net sales increased 31.5% to $1,028.7 million from $782.5 million in the first quarter of fiscal 2021. Please see “Comparable Store Sales” below for information on how the Company calculates its comparable store sales growth.įor the Thirteen Weeks Ended March 31, 2022 We project a path towards operating at least 500 warehouse-format stores over time, implying we would be only 38% built out by the end of fiscal 2022.” We remain on plan to open nine warehouse-format stores in the second quarter and 32 total warehouse-format stores in fiscal 2022. We also opened three design studios in the first quarter. Taylor continued, “We opened six new warehouse-format stores in the first quarter, including our first store in Portland, Oregon and fourth store on Long Island in Garden City, New York, and are pleased with their early performance. We believe that our competitive moat from a product, price, and access to inventory standpoint has never been stronger, giving us added confidence in our ability to continue to grow our market share despite a wide range of macro-economic challenges.” The strong first-quarter performance directly results from our store, commercial, and support teams successfully executing our growth strategies in a dynamic and challenging industry-wide operating environment.

Tom Taylor, Chief Executive Officer, stated, “We entered fiscal 2022 with good momentum in our business and are pleased to deliver first-quarter sales and earnings that exceed expectations, especially considering our record sales and earnings last year. (NYSE: FND) (“We,” “Our,” the “Company,” or “Floor & Decor”) announces its financial results for the first quarter of fiscal 2022, which ended March 31, 2022. Diluted earnings per share (“EPS”) decreased 7.0% to $0.66 from $0.71 in the first quarter of fiscal 2021 Adjusted diluted EPS* decreased 1.5% to $0.67 from $0.68 in the first quarter of fiscal 2021.įloor & Decor Holdings, Inc.Comparable store sales increased 14.3% from the first quarter of fiscal 2021.Net sales increased 31.5% from the first quarter of fiscal 2021 to $1,028.7 million.

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