Floor & Decor Q1 net sales up 9.1% to $1,122.1M; comp sales down 3.3%

For the Thirteen Weeks Ended March 30, 2023 • Net sales increased 9.1% to $1,122.1 million from $1,028.7 million in the first quarter of fiscal 2022. • Comparable store sales decreased 3.3%. • We opened three new warehouse stores during the first quarter of fiscal 2023, ending the quarter with 194 warehouse stores and five design studios. • Operating income increased 1.6% to $95.5 million from $94.0 million in the first quarter of fiscal 2022. Operating margin decreased 60 basis points to 8.5%. • Net income increased 0.8% to $71.5 million from $71.0 million in the first quarter of fiscal 2022. Diluted earnings per share ("EPS") of $0.66 was flat compared to the first quarter of fiscal 2022.