Flooring retailer Floor & Decor reported second quarter net sales of $1.1 billion for the period ending ending June 29, 2023. Sales increased 4.2% and comparable store sales decreased 6% compared to the second quarter of 2022. 

“Amidst the economic challenges of rising mortgage interest rates and near-record-low existing home sales, we are pleased to deliver second-quarter diluted earnings per share of $0.66, which was above our expectations," stated Chief Executive Officer Tom Taylor.  "We are focused on what we can control by executing our growth and customer service strategies at a high level and effectively managing our profitability during this challenging period where sales are modestly below our expectations. As consumers prioritize value and savings, we intend to continue to grow our market share by capitalizing on our everyday low prices and value options, trend-forward broad assortments, in-stock job lot quantities, and the exceptional customer service provided by our store associates.”

The retailer opened nine warehouse stores in the second quarter of 2023 and Taylor said the company intends to open 32 warehouse stores in fiscal 2023. Floor & Decor ended the second quarter operating 203 warehouse stores and five design studios across 36 states.