The move comes after the specialty hard surface flooring brand opened 32 warehouse-format stores in 2022.
It ended the year with a total of 191 warehouse stores and six design studios across 36 states. “We remain on plan to open 32 to 35 warehouse stores in 2023,” said CEO Tom Taylor.
The company’s net income increased 38.8 per cent to $69.2M, with earnings per share of $0.64, in the quarter ended 29 December compared to $49.9M, with earnings per share of $0.46 in the year-ago period. Net sales increased 14.6 per cent to $1.048bn from $914.3M last year. Comparable store sales increased 2.5 per cent.
“We are pleased to deliver better-than-expected fiscal 2022 fourth-quarter earnings and proud to report 14 consecutive years of comparable store sales growth, a significant accomplishment considering current macroeconomic challenges,” said Taylor. “We continued to grow our market share by remaining agile, focusing on executing our key growth strategies, and continuing to invest in initiatives that further widened our competitive moat.”
