Floor & Decor (FND) to Debut in Rhode Island With Warehouse Store
Floor & Decor Holdings, Inc. FND announced its opening in Warwick, RI with a warehouse and design center.
Located at 300 Quaker Lane, the new store will house a team of approximately 50 full-time and part-time employees led by the store’s general manager. The store opening will be celebrated with a ribbon cutting ceremony on Aug 29, 2024, with the Chamber of Commerce of Central Rhode Island.
The Warwick store will be giving away a $5,000 Floor Makeover and a VIP ticket package to the Providence College Men’s Basketball Home Opener as part of its home opener festivities. Also, it will host a family event “Best In Town” and Million Dollar Dice Roll on Aug 31. The company will host a special Pro Industry Networking Event on Sep 12 to welcome its PRO network to the new location of storage.
To promote the store opening, FND will partner with Smell D Roses, Cafe Tempo Coffee House, Sugar Mama’s Sweets and Treats, and Jack’s Snacks, A Dog Bakery.
Encouraging Expansion Initiatives
Floor & Decor is investing in profitable investments to support its expansion strategies, mainly through the improvement of existing stores and the opening of new stores. By expanding its footprint and product platform, the company can reach new audiences and accelerate its growth rate.
From the first six months of fiscal 2024, the company opened nine new stores, which brought the number of the last quarter to 230 stores and five design centers. It aims to open 30 new stores by 2024 and 25 new stores by 2025. The company’s long-term goal is to operate 500 stores in the United States. It is well positioned to achieve this goal and is making strategic investments to encourage the expansion process.
Floor & Decor Holdings, Inc. Price
Floor & Decor Holdings, Inc. price | Floor & Decor Holdings, Inc. Quote
Shares of this specialty retailer of hardwood floors and related materials have gained 15% over the past year against the Zacks Building Products Index – a 0.3% decline in the Wood industry.
Zacks Rank & Stocks to Consider
Floor & Decor currently has a Zacks Rank #5 (Strong Sell).
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FIX has posted a trailing four-quarter dividend yield of 20.6%, on average. The stock is up 89.7% in the past year. The Zacks Consensus estimate for FIX’s 2024 sales and earnings per share (EPS) shows growth of 29.4% and 50.9%, respectively, from last year’s levels.
Century Communities Group, Inc. CCS currently sports a Zacks Rank of 1. It has an impressive quarterly earnings yield of 35.6%, on average. CCS shares have gained 43.2% over the past year.
The consensus estimate for 2024 CCS sales and EPS suggests an increase of 17.9% and 31.5%, respectively, from last year’s levels.
Howmet Aerospace Inc. Group HWM currently sports a Zacks Rank of 1. HWM has posted quarterly earnings of 10.9%, on average. The stock is up 102.4% over the past year.
The Zacks Consensus estimate for HWM’s 2024 sales and EPS shows an increase of 12.6% and 39.1%, respectively, from last year.
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