Floor & Decor Holdings, Inc. (NYSE: FND)

Floor & Decor Holdings, Inc. is a multi channel specialty retailer of hard surface flooring and related accessories and a seller of commercial surfaces. The company was founded in 2000 and operates warehouse format stores and small format design studios across 39 states. It offers a broad in stock assortment of laminate, vinyl, tile, wood, natural stone flooring, installation materials and decorative accessories. Floor & Decor positions itself as a one stop destination for customers hard surface flooring projects.

Floor & Decor generates revenue primarily from the sale of flooring products, installation tools, decorative accessories and adjacent categories such as vanities, shower doors and kitchen cabinets. Sales are made through its warehouse format stores, small format design studios and its website FloorandDecor.com. The company relies on a direct sourcing model to purchase goods directly from manufacturers, enabling everyday low prices for customers. Revenue also comes from commercial surfaces sales to business customers.

Floor & Decor holds a strong position in the highly fragmented U S retail hard surface flooring market. Its competitive advantages include a wide in stock assortment, everyday low prices, immediate product availability and a focus on professional installer and commercial customers. The company differentiates itself from big box home improvement centers, national and regional specialty flooring retailers, independent flooring retailers and distributors through its service offerings such as free design consulting and Pro loyalty programs. These strengths enable Floor & Decor to capture market share and drive customer loyalty.

The company serves professional installers and commercial businesses referred to as Pro customers as well as homeowners who are either do it yourself DIY or buy it yourself BIY customers. Floor & Decor tailors its product assortment and services to meet the needs of both professional contractors and individual homeowners doing renovation projects. No specific customer names are disclosed in the filing.