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Floor & Decor (Ticker: FND) with Drew Cohen
Sep 28, 2023
Specialist in specialty retail, Drew Cohen, discusses Floor & Decor Holdings, Inc. (FND), its business model, valuation, and competitive advantage in the home improvement industry. Topics include the investment potential, store expansion plans, management analysis, regional account managers vs. Spartan acquisition, and Berkshire's holding in the company.
35:47
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Quick takeaways
- Floor & Decor aims to expand store count to 500, focusing on national coverage and targeting 20% annual growth rate.
- Company targets commercial market growth through specific sales strategies, acquisitions, and differentiation between soft and hard specification approaches.
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Overview of Floor and Decor
Floor and Decor is a specialty retailer focusing on hard surface flooring like luxury vinyl planks and laminate, competing with home improvement centers like Home Depot and Lowe's. They follow a model similar to Costco, offering everyday low prices and direct sourcing for cost savings. The company's success is attributed to its extensive selection, in-stock inventory, competitive pricing, and focus on catering to both DIY customers and professionals in the flooring market.
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