NYSE:FNDSpecialty Retail
Does Bristlemoon’s Focus on FND’s Private‑Label Warehouse Model Reframe Floor & Decor’s Moat Narrative?
Bristlemoon Capital’s recently released Q4 2025 investor letter highlighted Floor & Decor Holdings’ multi‑year growth in comparable store sales and revenue, as well as its 5.5% third‑quarter sales increase.
The letter underscored Floor & Decor’s emphasis on private label flooring and large warehouse-format stores as a key edge over big box home improvement chains, even though it is not among the most widely held hedge fund names.
We’ll now examine how Bristlemoon’s emphasis on Floor &...