Benzinga - by Zacks, Benzinga Contributor.
Floor & Decor Holdings, Inc. (NYSE: FND) focuses intently on expanding its market share by opening new warehouse-format stores, capitalizing on its everyday low prices and value-driven options, diversified and in-style product offerings, and valuing customers' demand trends.
Considering its expansion plans through new store openings, the company recently announced its debut in Columbus, GA, with a new warehouse store and design center. The new store will house about 50 full-time and part-time associates, led by the store's chief executive merchant.
Floor & Decor on an Expansion Spree Floor & Decor indulges in profitable investments to process its expansion strategies, primarily through improvements in existing stores and new stores openings. By expanding its footprint and product portfolio, the company can reach out to new communities and accelerate its growth momentum.
During the fiscal first quarter (ended Mar 28, 2024), the company opened four new warehouse stores. This brought the quarter-end count to 225 warehouse stores and five design studios. The openings included new warehouse format stores in Mansfield, TX; Summerville, FL; Glen Burnie, MD; and Augusta, GA. Furthermore, as of May 2024, FND had already opened four new warehouse stores, including Lone Tree, CO; Bremerton, WA; Brooklyn, NY; and Hendersonville, TN.
Floor & Decor aims to open between 30 and 35 new warehouse-format stores in fiscal 2024 across various large, medium and small market sizes. The long-term goal of the company is to operate 500 warehouse stores in the United States, and to achieve this target, it is strategically making investments to foster the expansion trend.
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Owing to these tailwinds, shares of this retailer specializing in hard-surface flooring for homeowners and professionals have gained 2.7% in the year-to-date period against the Zacks Building Products - Wood industry's 8.1% decline.
Zacks Rank & Key Picks Floor & Decor currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Construction sector.
Owens Corning (NYSE: OC) currently sports a Zacks Rank #1 (Strong Buy).
OC delivered a trailing four-quarter earnings surprise of 17.4%, on average. The stock has risen 42.1% in the past year. The Zacks Consensus Estimate for OC's 2024 sales and earnings per share indicates growth of 16% and 7.4%, respectively, from the prior-year reported levels.
PulteGroup, Inc. (NYSE: PHM) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 12.5%, on average. PHM's shares have gained 46.7% in the past year.
The consensus estimate for PHM's 2024 sales and EPS implies an increase of 7.9% and 10%, respectively, from the prior-year reported levels.
Louisiana-Pacific Corporation (NYSE: LPX) presently sports a Zacks Rank of 1. LPX delivered a trailing four-quarter earnings surprise of 18.6%, on average. The stock has risen 25% in the past year.
The Zacks Consensus Estimate for LPX's 2024 sales and EPS indicates growth of 17% and 79.8%, respectively, from the year-earlier levels.
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