Floor & Decor (FND) Unveils 7th Store in DMV Metropolitan Area
Floor & Decor Holdings, Inc. FND expands its presence with the opening of its new location in Manassas, VA. This marks the company’s seventh store in the DMV Metropolitan Area.
Situated at 8200 Sudley Road, the warehouse store and design center are set to open with a team of around 50 full-time and part-time associates. John Morales, the chief executive merchant, will lead the store. The company remains in in this regard and looks forward to welcoming its newest neighbors into the store and making their renovation journeys easier, inspired and more affordable.
For more than two decades, Floor & Decor served professionals and homeowners nationwide. The company stands among Fortune's 100 fastest-growing companies. It was honored on Yelp’s “Most Loved Brands” list in April 2023, recognizing it as one of the most loved brands on the consumer reviews platform.
Focus on Expansion
Shares of FND have rallied 44.9% in the year-to-date period compared with the industry’s rise of 12%. 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.
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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. It plans to open about 32 warehouse-format stores in fiscal 2023.
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.
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 in this uncertain economy.
Zacks Rank & Key Picks
Floor & Decor currently sports a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the Zacks Construction sector are:
EMCOR Group, Inc. EME sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 25%, on average. Shares of EME have surged 45.5% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EME’s 2023 sales and earnings per share (EPS) suggests growth of 12% and 52.8%, respectively, from the year-ago period’s levels.
M-tron Industries, Inc. MPTI currently sports a Zacks Rank of 1. MPTI delivered a trailing four-quarter earnings surprise of 35.6%, on average. It has surged 297.6% 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.
AECOM ACM 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 7.4% 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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