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Floor & Decor (FND) Unveils 12th Store in NYC Metropolitan Area

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Floor & Decor Holdings, Inc. (FND - Free Report) sustains its growth momentum through its elevated customer services and expansion efforts. Recently, the company announced the opening of a new store location in Springfield, New Jersey. This marks the company's 12th store in the New York City Metropolitan Area, reflecting its continuous focus on domestic expansion.

The new warehouse store and design center will open with a team of approximately 50 full-time and part-time associates, overseen by Ira Yellin, the store's chief executive merchant.

For more than two decades, Floor & Decor served professionals and homeowners nationwide. The company is optimistic in this regard and looks forward to welcoming its newest neighbors into the store and making their renovation journeys easier, inspired and more affordable.

Floor & Decor on Expansion Spree

The company strategically invests in expanding its operations by enhancing existing stores, opening new ones and making accretive acquisitions. These efforts allow the company to broaden its reach to new communities and boost its growth momentum. In the first nine months of 2023, the company opened 22 new warehouse stores with a total third quarter-end count of 207 warehouse stores and five design studios.

In December, FND expanded its presence with new store openings in Shrewsbury, Massachusetts; Mobile, Alabama; Allentown, Pennsylvania; and Manassas, Virginia. These new stores mark the company's continued growth in the Boston Metropolitan Area, Alabama, the Philadelphia Metropolitan Area, and the DMV Metropolitan Area.

In November, the company opened a new store location in Ocean Township. In October, it announced the opening of two new warehouse stores and design center locations. In Pennsylvania, the company opened its fourth store in Springfield Township. Meanwhile, it unveiled its ninth store at Nanuet in the New York City Metropolitan Area.

Along with store expansion, FND is committed to investing in associates and remodeling and enhancing existing stores. In the third quarter of 2023, the company closed an older warehouse store in Houston, strategically replacing stores in the surrounding market as the lease expired.

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Shares of FND have rallied 62.4% in the past year compared with the industry’s rise of 23.8%.

Zacks Rank & Key Picks

Floor & Decor currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks from the Zacks Construction sector are:

Fluor Corporation (FLR - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 37.5%, on average. Shares of FLR have surged 13.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for FLR’s 2023 sales and earnings per share (EPS) suggests growth of 12.4% and 197.6%, respectively, from the year-ago period’s 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 has surged 306.8% 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 levels.

AECOM (ACM - Free Report) carries a Zacks Rank of #2 (Buy). It has a trailing four-quarter earnings surprise of 2.1%, on average. Shares of ACM have surged 8.9% in the past year.

The Zacks Consensus Estimate for ACM’s 2024 sales and EPS indicates an increase of 4.5% and 17.5%, respectively, from the year-ago period’s levels.

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