Annual report pursuant to Section 13 and 15(d)

Revenue

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  %
Tile 1,033,830  23  963,999  23  801,101  23 
Installation materials and tools
 828,601  19  713,127  17  558,721  16 
Decorative accessories and wall tile 743,571  17  744,888  17  642,697  19 
Wood
 258,359  6  274,528  6  259,637  8 
Natural stone
 208,286  5  212,167  5  199,140  6 
Adjacent categories 83,525  2  69,820  2  54,482  1 
Other (1)
104,236  2  101,308  2  41,041  1 
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.