XML 25 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Revenue
12 Months Ended
Dec. 28, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Net sales consist of revenue associated with contracts with customers for the sale of goods and services in amounts that reflect the consideration the Company is entitled to receive in exchange for those goods and services.
Deferred Revenue & Contract Liabilities
In accordance with ASC 606, the Company recognizes revenue when the customer obtains control of the inventory. Amounts in deferred revenue at period-end reflect orders for which the inventory was not yet ready for physical transfer to customers.
Contract liabilities within the Consolidated Balance Sheets as of December 28, 2023 and December 29, 2022 primarily consisted of deferred revenue as well as amounts in accrued expenses and other current liabilities related to the Pro Premier Rewards loyalty program and unredeemed gift cards. As of December 28, 2023, contract liabilities totaled $69.6 million and included $45.6 million of loyalty program liabilities, $12.7 million of unredeemed gift cards, and $11.3 million of deferred revenue. As of December 29, 2022, contract liabilities totaled $57.0 million and included $33.8 million of loyalty program liabilities, $13.1 million of unredeemed gift cards, and $10.1 million of deferred revenue. Of the contract liabilities outstanding as of December 29, 2022, approximately $18.0 million was recognized in revenue during fiscal 2023.
Disaggregated Revenue
The Company has one reportable segment. The following table presents the net sales of each major product category for each of the last three fiscal years:
Fiscal Year Ended
in thousands
December 28,
2023
December 29,
2022
December 30,
2021
Product Category
Net Sales
% of
Net Sales
Net Sales
% of
Net Sales
Net Sales
% of
Net Sales
Laminate and vinyl$1,153,476 26 %$1,184,636 28 %$876,714 26 %
Tile1,033,830 23 963,999 23 801,101 23 
Installation materials and tools
828,601 19 713,127 17 558,721 16 
Decorative accessories and wall tile743,571 17 744,888 17 642,697 19 
Wood
258,359 274,528 259,637 
Natural stone
208,286 212,167 199,140 
Adjacent categories83,525 69,820 54,482 
Other (1)
104,236 101,308 41,041 
Total$4,413,884 100 %$4,264,473 100 %$3,433,533 100 %
(1)Other includes delivery, sample, and other product revenue and adjustments for deferred revenue, sales returns reserves, and other revenue related adjustments that are not allocated on a product-category basis.