ATLANTA--(BUSINESS WIRE)--Floor & Decor (NYSE: FND), the leading high-growth retailer specializing in hard-surface flooring for homeowners and professionals, today announced the opening of its newest warehouse store and design center in Dearborn, Michigan, located at 1300 Shehadi Court. The Dearborn store opens with a team of approximately 35 full-time and 15 part-time associates and is led by Wesley Walker, the store's Chief Executive Merchant. Floor & Decor operates more than 260 ware. ...

Floor and Decor ( FND ), like many retailers exposed to the frozen housing market, has experienced significant demand challenges including declining same store sales and EPS amid arguably the most challenging macroeconomic backdrop inI am a software engineer by profession and a lifelong student of the markets, combining analytical rigor with a deep fascination for businesses that have the potential to outperform their underlying indices over long time horizons. My investing background began over a decade ag ...

Core Thesis - Floor & Decor Holdings, Inc. (FND) is experiencing mixed financial performance, with revenue growth but declining comparable sales, indicating challenges in the current housing market [2][4] Financial Performance - FND reported a 5.5% year-over-year increase in revenue, while comparable sales declined by 1.2%, reflecting ongoing pressures from a weak housing market [2] - Customer transactions decreased by 3%, although this was partially offset by a 1.8% increase in average ticket size [2] - Gross margins remained stable at 43.4%, and operating margins improved slightly to 6.1%, aided by cost discipline despite new distribution center costs [2] Management Strategy - The company is focused on reducing store buildout costs, achieving $1.5 million less investment per new store compared to 2023 [3] - New store cohorts are generating first-year sales of approximately $11 million, which is below the long-term target of $14–16 million but aligns with industry performance [3] - Leadership transition is occurring with CEO Tom Taylor moving to Executive Chairman and President Bradley Paulsen taking over as CEO, indicating continuity in management [3] Growth Plans - FND aims to open 20 new stores annually and expand its product offerings in kitchen cabinets, outdoor products, and design services, which are seen as competitive advantages [4] - Despite negative comparable sales, FND is gaining market share against competitors like LL Flooring and The Tile Shop, supported by strong service scores and a resilient professional customer base [4] - The long-term goal is to establish 500 stores generating $25–30 million in mature annual sales [4]

Core Insights - Floor & Decor has opened a new warehouse store in Vancouver, Washington, enhancing its retail footprint in the hard-surface flooring market [1] - The new location features a design center and employs approximately 25 full-time and 15 part-time associates, indicating a commitment to local employment [1] - Sarah Valentine has been appointed as the Chief Executive Merchant for the new store, suggesting a strategic leadership focus [1] Company Expansion - The new warehouse store is located at 11696 Northeast 76th Street, which is part of Floor & Decor's strategy to expand its presence in key markets [1] - This opening reflects the company's ongoing growth trajectory in the high-growth retail sector specializing in flooring [1] Employment and Leadership - The store's workforce includes a mix of full-time and part-time employees, which may enhance operational flexibility and customer service [1] - The leadership of Sarah Valentine as Chief Executive Merchant indicates a focus on effective management and customer engagement at the new location [1]

Core Points - Floor & Decor has announced the grand opening of a new warehouse store in Mount Pleasant, South Carolina, enhancing its presence in the hard-surface flooring market [1][3] - The new store features a team of approximately 35 full-time and 15 part-time associates, led by Chief Executive Merchant Matthew Peiffer [1][3] - The company operates over 250 warehouse-format stores and five design studios across 38 states, offering a wide range of in-stock hard-surface flooring products [2][8] Store Opening Details - The grand opening ceremony is scheduled for December 2, 2025, and will include participation from local chambers of commerce and special appearances by Charleston Southern University cheerleaders [3] - The store will host a PRO Industry Networking Event on December 4, 2025, featuring a boat giveaway and opportunities for local professionals to engage with the PRO Services Team [5][6] Community Engagement - The Mount Pleasant store will conduct a $5,000 Floor Makeover Sweepstakes and offer a chance to win 2026 Charleston Southern University Football Season Tickets as part of its opening festivities [6] - A family-friendly Super Saturday event is planned for December 6, 2025, to showcase local vendors and the new store to the community [6][7] Company Overview - Floor & Decor is a multi-channel specialty retailer of hard surface flooring and related accessories, headquartered in Atlanta, Georgia, and founded in 2000 [8] - As of the end of the third quarter of fiscal 2025, the company operates 262 warehouse-format stores and five design studios, providing a broad assortment of flooring products at everyday low prices [8]

Core Insights - Floor & Decor has opened a new warehouse in Woodinville, Washington, enhancing its retail presence in the hard-surface flooring market [1] Company Summary - The new warehouse and design center is located at 19545 Woodinville Snohomish Road NE, Woodinville [1] - The store is staffed by approximately 35 full-time and 15 part-time associates [1] - Shane Hopka serves as the Chief Executive Merchant for the new location [1] Industry Context - Floor & Decor is recognized as a leading high-growth retailer in the hard-surface flooring sector, catering to both homeowners and professionals [1]

Core Insights - Floor & Decor has announced the grand opening of a new warehouse store in Eagle, Idaho, expanding its presence in the Boise area [1][3] - The new store features a team of approximately 35 full-time and 15 part-time associates, enhancing local employment opportunities [1] - The company operates over 250 warehouse-format stores and five design studios across 38 states, offering a wide range of hard-surface flooring products [2][9] Store Features and Events - The grand opening will include a Ribbon Cutting Ceremony on November 20, 2025, in partnership with the Eagle Chamber of Commerce [3] - A PRO Networking Event will be held on the same day, providing local professionals with opportunities to connect and win prizes [4][5] - The grand opening celebration will feature a Super Saturday Celebration on November 22, 2025, with various local business offerings and a chance to participate in a One Million Dollar Dice Roll [6][8] Community Engagement - The company aims to build strong relationships within the Eagle and Boise community, positioning itself as a trusted resource for homeowners and professionals [3] - Floor & Decor emphasizes support for professionals in the construction and renovation industries through its PRO Services and rewards programs [4][5]

Core Viewpoint - Floor & Decor Holdings Inc. is expected to capture a larger market share in 2026 as housing conditions improve and industry competition eases [1] Market Outlook - Goldman Sachs upgraded Floor & Decor to Neutral from Sell, with a 12-month price forecast of $71, down from $80, citing expectations for a modestly improved U.S. housing backdrop in 2026 [2] - The bank noted that while housing turnover has not recovered since January, the backdrop appears steady and could strengthen as mortgage rates decline [3] Store Expansion and Performance - Management continues to open stores at a pace of 20 units per year, with flexibility to accelerate in 2026 if conditions improve [4] - New-store performance remains pressured, with average revenue at $11 million versus long-term targets, though improvement is expected as macro conditions normalize [9] Financial Projections - For 2025, management guided sales of $4.66-$4.71 billion, up 5%-6% year over year, with comparable store sales projected to decline by -2% to -1% [8] - Goldman forecasts revenue of $4.68 billion for 2025, $5.08 billion for 2026, and $5.68 billion for 2027, with EPS estimates of $1.87, $2.08, and $2.59 for 2025, 2026, and 2027 respectively [11] Market Share and Competitive Position - Floor & Decor is well positioned as smaller rivals struggle with tariffs and tighter economics, with expectations for market-share gains due to bankruptcies and store closures at competitors [5][8] - Competitive pricing analysis shows Floor & Decor maintains prices below industry averages across most comparable products [8] Margin Resilience - Margins remain resilient, supported by disciplined pricing, supply-chain savings, and higher-margin design services, with 2025 gross margin guidance at 43.6%-43.7% [11]

Upgrades - JPMorgan upgraded Outfront Media (OUT) to Overweight from Neutral with a price target of $25, up from $19, citing the out-of-home channel as the most resilient traditional advertising market with improved momentum in Q3 [2] - Guggenheim upgraded Grail (GRAL) to Buy from Neutral with a price target of $100, noting that while Galleri is not a perfect test, it remains the leading commercially available MCED test with a significant data moat [3] - Piper Sandler upgraded Floor & Decor (FND) to Overweight from Neutral with a price target of $80, up from $75, highlighting potential for comparable sales improvement by Q1 of 2026 [4] - KeyBanc upgraded Progyny (PGNY) to Overweight from Sector Weight with a price target of $30, indicating limited share downside and several positive catalysts over the next 12 months [4] - KeyBanc upgraded AT&T (T) to Overweight from Sector Weight with a price target of $30, attributing the recent share pullback to overblown wireless competition concerns [5] Downgrades - Raymond James downgraded Bath & Body Works (BBWI) to Market Perform from Outperform, stating that the company's growth will be below its long-term potential due to slow improvements in digital capabilities and distribution [6] - Wolfe Research downgraded Intellia Therapeutics (NTLA) to Peer Perform from Outperform, citing safety issues with nexiguran ziclumeran as a hindrance to the bull thesis [6] - Raymond James double downgraded Brighthouse Financial (BHF) to Market Perform from Strong Buy, referencing the announcement of its acquisition deal for $70 per share [6] - Raymond James double downgraded Centerspace (CSR) to Market Perform from Strong Buy, noting that while the portfolio is attractive for potential buyers, the recent rally has closed the valuation gap with multifamily peers [6] - Northland downgraded QuickLogic (QUIK) to Market Perform from Outperform, maintaining a price target of $5.95, after the company reported revenue in line with guidance and uncertainty regarding a $3M contract [6]

Group 1 - Baron Real Estate Fund delivered strong performance in Q3 2025, appreciating 10.25% compared to the MSCI US REIT Index's 4.49% and the MSCI USA IMI Extended Real Estate Index's 5.65% [1] - The fund highlighted Floor & Decor Holdings, Inc. (NYSE:FND) as a key stock, which experienced a one-month return of -14.20% and a 52-week loss of 40.63% [2] - Floor & Decor Holdings, Inc. had a market capitalization of $6.55 billion as of November 11, 2025, with shares closing at $60.79 [2] Group 2 - Following a significant decline in shares during the first half of 2025, Baron Real Estate Fund began acquiring shares of Floor & Decor Holdings, Inc. [3] - Floor & Decor Holdings, Inc. was held by 46 hedge fund portfolios at the end of Q2 2025, an increase from 44 in the previous quarter [4] - The company's sales for Q3 grew by 5.5% to $1.180 billion, indicating potential for investment despite the current challenges [4]