Floor & Decor Holdings, Inc. Announces Long-Term Financial Targets and Strategic Priorities

Floor & Decor Holdings, Inc. will host its 2022 Investor conference today, Wednesday, March 16, 2022 starting at 8:30 a.m. Eastern Time. In conjunction with the event, the company is announcing its long-term financial targets and strategic priorities through fiscal 2024.

Tom Taylor, Chief Executive Officer, stated, “We just completed our most successful year on record in 2021, and we are incredibly proud of what we have achieved over the last decade, but we still believe our best days are yet in the future. I would like to thank our approximately 11,000 Floor & Decor associates serving each other and our customers every day as none of this would be possible without their dedication. We have made thoughtful and meaningful investments year after year to continually differentiate our retail and commercial hard surface flooring models and our customers are rewarding us with continued sales and market share growth. We have strong momentum in the business in the first quarter of 2022, and we look forward to discussing our strategies and financial plans for the next three years.”

Strategic Priorities and Long-Term Financial Targets. As part of today’s webcast, Floor & Decor’s management team will outline their strategic priorities and long-term financial targets. These estimated growth rate targets represent long-term annual targets over fiscal 2022 to fiscal 2024. Performance in any individual year may be lower or higher than these targets. Management will provide insights on these long-term financial targets at today’s event.

• Total net sales growth of at least 20% as measured over a three-year compounded annual growth period;
• New warehouse format store growth of 20% through 2024;
• Adjusted operating income approximately doubling from 2021 to 2024, representing approximately 25% growth when measured over a three-year compounded annual growth period;
• Adjusted EBITDA margins (as a % of sales) in the mid-teen range; and
• Maintain low balance sheet leverage and prioritize operating cash flow back into the business to support 20% new warehouse-format store growth while continuing to improve return on invested capital.

For the complete press release, click here.

About Floor & Decor Holdings, Inc.

Floor & Decor is a multi-channel specialty retailer and commercial flooring distributor, operating 160 warehouse-format stores and two design studios across 33 states as of December 30, 2021. The Company offers a broad assortment of in-stock hard-surface flooring, including tile, wood, laminate, vinyl, and natural stone, along with decorative accessories and wall tile, installation materials, and adjacent categories at everyday low prices. The Company was founded in 2000 and is headquartered in Atlanta, Georgia.

Contact:

Wayne Hood – Vice President of Investor Relations – wayne.hood@flooranddecor.com – (678) 505-4415

Source: Floor & Decor Holdings, Inc.