Annual report pursuant to Section 13 and 15(d)

Revenue

v3.22.4
Revenue
 12 Months Ended
Dec. 29, 2022
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, Revenue from Contracts with Customers, 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 29, 2022 and December 30, 2021 primarily consisted of deferred revenue as well as amounts in accrued expenses and other current liabilities related to the Pro Premier loyalty program and unredeemed gift cards. As of December 29, 2022, contract liabilities totaled $57.0 million and included $10.1 million of deferred revenue, $33.8 million of loyalty program liabilities, and $13.1 million of unredeemed gift cards. As of December 30, 2021, contract liabilities totaled $40.2 million and included $14.5 million of deferred revenue, $20.4 million of loyalty program liabilities, and $5.3 million of unredeemed gift cards. Of the contract liabilities outstanding as of December 30, 2021, approximately $17.2 million was recognized in revenue during fiscal 2022.
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 29,
2022		 December 30,
2021		 December 31,
2020
Product Category
Net Sales
% of
Net Sales
Net Sales
% of
Net Sales
Net Sales
 % of
Net Sales
Laminate and vinyl $ 1,184,636  28  % $ 876,714  26  % $ 555,963  23  %
Tile 963,999  23  801,101  23  605,357  25 
Decorative accessories and wall tile 744,888  17  642,697  19  464,589  19 
Installation materials and tools
 713,127  17  558,721  16  403,184  17 
Wood
 274,528  6  259,637  8  211,307  9 
Natural stone
 212,167  5  199,140  6  152,665  6 
Adjacent categories 69,820  2  54,482  1  20,487  1 
Other (1)
101,308  2  41,041  1  12,236  — 
Total $ 4,264,473  100  % $ 3,433,533  100  % $ 2,425,788  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-level basis.