Organic sales declined 6%, management lowered stores opening target and FY23 guidance, but long-term thesis is intact. FND continues to gain market share, outperforming Home Depot and Lowe's.
Congrats for having that level of patience! I think shares of $FND can swing widely still but this area is more and more reasonable to build a position. I am looking to hold this for a very long time. There customer focus and benefit sharing reminds me of $AMZN and $COST, both not bad examples to follow.
$FND is set to join the S&P MidCap 400 - that should bring even more attention to the stock, but fundamentally it doesn't change much. The price increase of 8.5% today to $93/share from $84/share could be temporary. I wouldn't chase the market but stick to observing the real changes made by management i.e. number of stores opening and unit economics of it.
I've been watching this company for a couple of years but could never justify the valuation. Thanks for the write up Trung, very informative.
Also thank you for supporting me and staying as a loyal reader! I'll make sure to bring you more high quality research and picks like $FND.
Congrats for having that level of patience! I think shares of $FND can swing widely still but this area is more and more reasonable to build a position. I am looking to hold this for a very long time. There customer focus and benefit sharing reminds me of $AMZN and $COST, both not bad examples to follow.
I definitely agree with the comparison!
I do believe it will be incredibly difficult for any new potential entrants to compete. Thanks for the write up Trung.
$FND is set to join the S&P MidCap 400 - that should bring even more attention to the stock, but fundamentally it doesn't change much. The price increase of 8.5% today to $93/share from $84/share could be temporary. I wouldn't chase the market but stick to observing the real changes made by management i.e. number of stores opening and unit economics of it.
https://www.prnewswire.com/news-releases/floor--decor-holdings-set-to-join-sp-midcap-400-vicor-to-join-sp-smallcap-600-301959714.html