Floor & Decor (FND) opens warehouse in Rhode Island – August 23, 2024
Floor & Decor Holdings, Inc. (FND – Free Report) announced its debut in Warwick, Rhode Island, with a warehouse and design center.
The new store, located at 300 Quaker Lane, will house a team of approximately 50 full-time and part-time employees led by the store’s general manager. The store’s opening will be celebrated with a ribbon-cutting ceremony with the Central Rhode Island Chamber of Commerce on August 29, 2024.
The Warwick store is giving away a $5,000 floor renovation and a VIP ticket package to the Providence College men’s basketball team’s home game as part of its grand opening festivities. It will also host a family-friendly “Best In Town” event and a Million Dollar Dice Roll on August 31. The company will host a special Pro Industry Networking Event on September 12 to welcome its PRO network to the new warehouse location.
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.
Promoting initiatives to expand presence
Floor & Decor invests in lucrative investments to implement its expansion strategies, mainly through improvements in existing stores and the opening of new stores. By expanding its presence and product portfolio, the company can reach new target groups and accelerate its growth momentum.
In the first six months of fiscal 2024, the company opened nine new warehouse stores, bringing the number to 230 warehouse stores and five design studios at the end of the quarter. It plans to open 30 new warehouse stores in 2024 and 25 in 2025. The company’s long-term goal is to operate 500 warehouse stores in the United States. It is well positioned to achieve this goal and is making strategic investments to support the expansion trend.
Shares of this hard flooring and flooring supplies retailer have gained 15% over the past year, while the Zacks Building Products & Lumber industry average has fallen 0.3%.
Zacks Ranking and Stocks to Consider
Floor & Decor currently has a Zacks Rank of 5 (Strong Sell).
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