Annual report pursuant to Section 13 and 15(d)

Revenue

v3.22.0.1
Revenue
 12 Months Ended
Dec. 30, 2021
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 30, 2021 and December 31, 2020 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 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. As of December 31, 2020, contract liabilities totaled $24.8 million and included $10.1 million of deferred revenue, $12.1 million of loyalty program liabilities, and $2.6 million of unredeemed gift cards. Of the contract liabilities outstanding as of December 31, 2020, approximately $11.1 million was recognized in revenue during fiscal 2021.
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 30,
2021		 December 31,
2020		 December 26,
2019
Product Category
Net Sales
% of
Net Sales
Net Sales
% of
Net Sales
Net Sales
% of
Net Sales
Laminate / luxury vinyl plank $ 876,714  26  % $ 555,963  23  % $ 442,171  22  %
Tile 801,101  23  605,357  25  523,076  26 
Decorative accessories / wall tile (1) 642,697  19  464,589  19  386,657  19 
Installation materials and tools
 558,721  16  403,184  17  346,356  17 
Wood
 259,637  8  211,307  9  202,888  10 
Natural stone
 199,140  6  152,665  6  127,975  6 
Adjacent categories (1) 54,482  1  20,487  1  7,251  — 
Other (2) 41,041  1  12,236  —  9,082  — 
Total $ 3,433,533  100  % $ 2,425,788  100  % $ 2,045,456  100  %
(1)To conform to the current period presentation, the presentation of revenue by product category for the fiscal years ended December 31, 2020 and December 26, 2019 has been updated within this table to provide disclosure of adjacent categories, which primarily includes bathroom and kitchen products and accessories, as a separate category. In prior periods, adjacent categories revenue was included as a component of the decorative accessories / wall tile product category.
(2)Other includes delivery, sample, and other product revenue and adjustments for deferred revenue, sales returns reserves, customer rewards under the Company’s Pro Premier Loyalty program, and other revenue related adjustments that are not allocated on a product-level basis.