Yahoo Finance Floor & Decor (FND) Expands Footprint With New Store in NJ
Floor & Decor Holdings, Inc. FND announces its debut location in Avenel, NJ, marking its 11th store opening in the New York City Metropolitan Area.
The new warehouse store and design center will house 50 full-time and part-time associates led by the store’s chief executive merchant. The store’s grand opening is slated to be hosted on Dec 13, 2023, with a ribbon-cutting ceremony with the Woodbridge Chamber of Commerce.
In appreciation of the new opening in Avenel, Floor & Decor will have a special PRO VIP Grand Opening event on Mar 5, 2024, to welcome its PRO network. Also, as part of the grand opening festivities, this store will host giveaways for its customers.
The company is optimistic about the opening of a new store location. It believes this can offer diversified product and service offerings to the customers of the new community while growing in the process despite the ongoing economic challenges.
Floor & Decor on Expansion Spree
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.
In the first nine months of 2023, Floor & Decor opened 17 new warehouse stores with a total fiscal third-quarter end count of 207 warehouse stores and five design studios. Recently in October 2023, the company opened five new warehouse stores, thus taking the store count to 22 year to date. It has plans to open about 10 new warehouse stores in the remaining fiscal fourth quarter to reach its annual goal of 32 warehouse stores.
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.
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Shares of this retailer specializing in hard-surface flooring for homeowners and professionals have increased 18.9% in the past year, outperforming the Zacks Building Products - Wood industry’s 3.4% growth.
Zacks Rank & Key Picks
Floor & Decor currently carries a Zacks Rank #5 (Strong Sell).
Here are some better-ranked stocks that investors may consider from the Construction sector.
Acuity Brands, Inc. AYI currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AYI delivered a trailing four-quarter earnings surprise of 12%, on average. The stock has declined 5.2% in the past year. The Zacks Consensus Estimate for AYI’s fiscal 2024 sales and earnings per share (EPS) indicates a decline of 3% and 4.7%, respectively, from a year ago.
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 262.2% 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.
EMCOR Group, Inc. EME presently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 25%, on average. Shares of EME have increased 38.1% in the past year.
The Zacks Consensus Estimate for EME’s 2023 sales and EPS indicates an improvement of 12% and 52.8%, respectively, from the prior-year levels.
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