Floor & Decor Holdings Inc. (FND) soared 11.96% in the pre-market trading session on Friday, following the company's better-than-expected fourth-quarter results and improved margins, despite facing industry headwinds.
The specialty retailer reported a 5.7% year-over-year increase in total sales for Q4 and a 0.9% increase for the full fiscal year 2024. While comparable store sales declined by 0.8% in Q4 and 7.1% for the year, the company demonstrated resilience by expanding its market share through strategic initiatives.
Notably, Floor & Decor's gross margin rate increased by 130 basis points in Q4 and 120 basis points for the full year, driven by lower supply chain costs and effective expense management. The company also reported better-than-expected operating cash flow and earnings per share of $0.44 in Q4.
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