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Floor & Decor (FND) on Expansion Spree, Opens New Store in NY
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Floor & Decor Holdings, Inc. (FND - Free Report) unveiled its 13th store in the New York City Metropolitan Area with its debut location in Port Chester, NY.
Located at 130 Midland Avenue, this warehouse store and design center is set to house nearly 50 full-time and part-time associates led by the store’s chief executive merchant. In honor of the store’s grand opening, the company announced the hosting of a ribbon-cutting ceremony on Dec 27, 2023, with the Port Chester Rye Brook Rye Town Chamber of Commerce.
Furthermore, Floor & Decor will be hosting a special PRO VIP Grand Opening event on Jan 17, to welcome its PRO network to the newly opened store.
The company’s retail expansion is commendable, given the consistent store opening trend. In December 2023, the company opened six new stores, aligning with its footprint and product portfolio expansion strategies.
Footprint Expansion Initiatives Bode Well
Floor & Decor makes profitable investments to process its expansion strategies primarily by improvements in existing stores and opening new stores. By expanding its footprint and product portfolio, the company can reach out to new communities and accelerate its growth momentum.
FND opened 32 new warehouse stores so far this year, reaching a total count of 222 warehouse stores and five design studios. The company has achieved its 2023 target of opening 32 warehouse stores, given this growth trend. Apart from this opening, the recent December inaugurations include new stores in Alabama, Virginia, Pennsylvania, Massachusetts and New Jersey.
For 2024, the company anticipates continuing its New York expansion with a new warehouse store in Brooklyn. By focusing on elevating customer services, investing in new and existing stores, and managing profitability efficiently, the company has been able to survive this uncertain economy.
Image Source: Zacks Investment Research
Owing to these tailwinds, shares of this retailer specializing in hard-surface flooring for homeowners and professionals have risen 24.7% in the past three months compared with the Zacks Building Products - Wood industry’s 21.3% growth.
Zacks Rank & Key Picks
Floor & Decor currently carries a Zacks Rank #5 (Strong Sell).
Here are some better-ranked stocks from the Construction sector.
It has a trailing four-quarter earnings surprise of 37.5%, on average. Shares of FLR have risen 14% in the past year. The Zacks Consensus Estimate for FLR’s 2023 sales and earnings per share (EPS) indicates an improvement of 12.4% and 197.6%, respectively, from the prior-year levels.
M-tron Industries, Inc. (MPTI - Free Report) currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. It's shares have soared 322.3% in the past year.
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year's level.
Willdan Group, Inc. (WLDN - Free Report) currently sports a Zacks Rank of 1. WLDN delivered a trailing four-quarter average earnings surprise of a whopping 850.6%. The stock has risen 24.1% in the past year.
The Zacks Consensus Estimate for WLDN’s 2023 sales and EPS indicates growth of 14.1% and 47.7%, respectively, from the year-ago level.
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Floor & Decor (FND) on Expansion Spree, Opens New Store in NY
Floor & Decor Holdings, Inc. (FND - Free Report) unveiled its 13th store in the New York City Metropolitan Area with its debut location in Port Chester, NY.
Located at 130 Midland Avenue, this warehouse store and design center is set to house nearly 50 full-time and part-time associates led by the store’s chief executive merchant. In honor of the store’s grand opening, the company announced the hosting of a ribbon-cutting ceremony on Dec 27, 2023, with the Port Chester Rye Brook Rye Town Chamber of Commerce.
Furthermore, Floor & Decor will be hosting a special PRO VIP Grand Opening event on Jan 17, to welcome its PRO network to the newly opened store.
The company’s retail expansion is commendable, given the consistent store opening trend. In December 2023, the company opened six new stores, aligning with its footprint and product portfolio expansion strategies.
Footprint Expansion Initiatives Bode Well
Floor & Decor makes profitable investments to process its expansion strategies primarily by improvements in existing stores and opening new stores. By expanding its footprint and product portfolio, the company can reach out to new communities and accelerate its growth momentum.
FND opened 32 new warehouse stores so far this year, reaching a total count of 222 warehouse stores and five design studios. The company has achieved its 2023 target of opening 32 warehouse stores, given this growth trend. Apart from this opening, the recent December inaugurations include new stores in Alabama, Virginia, Pennsylvania, Massachusetts and New Jersey.
For 2024, the company anticipates continuing its New York expansion with a new warehouse store in Brooklyn. By focusing on elevating customer services, investing in new and existing stores, and managing profitability efficiently, the company has been able to survive this uncertain economy.
Image Source: Zacks Investment Research
Owing to these tailwinds, shares of this retailer specializing in hard-surface flooring for homeowners and professionals have risen 24.7% in the past three months compared with the Zacks Building Products - Wood industry’s 21.3% growth.
Zacks Rank & Key Picks
Floor & Decor currently carries a Zacks Rank #5 (Strong Sell).
Here are some better-ranked stocks from the Construction sector.
Fluor Corporation (FLR - Free Report) presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
It has a trailing four-quarter earnings surprise of 37.5%, on average. Shares of FLR have risen 14% in the past year. The Zacks Consensus Estimate for FLR’s 2023 sales and earnings per share (EPS) indicates an improvement of 12.4% and 197.6%, respectively, from the prior-year levels.
M-tron Industries, Inc. (MPTI - Free Report) currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. It's shares have soared 322.3% in the past year.
The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year's level.
Willdan Group, Inc. (WLDN - Free Report) currently sports a Zacks Rank of 1. WLDN delivered a trailing four-quarter average earnings surprise of a whopping 850.6%. The stock has risen 24.1% in the past year.
The Zacks Consensus Estimate for WLDN’s 2023 sales and EPS indicates growth of 14.1% and 47.7%, respectively, from the year-ago level.