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  "documentTitle": "Floor & Decor Holdings, Inc. (FND)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-07-01 00:00:00",
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  "notes": "Uses a direct quote from a conference call to set up the contradiction.",
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      "kind": "callout",
      "text": "FND's median employee wage has grown faster then peers. We're not sure what the CFO meant when he said they were not playing catch-up with associate wages.",
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      "text": "CAGR 2020-2023: 13%",
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      "text": "FND's median employee wage has grown faster then peers. We're not sure what the CFO meant when he said they were not playing catch-up with associate wages.",
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      "kind": "quote",
      "text": "We have made significant investments in our associate training and wages over the past few years leading to improved customer service, an essential attribute in this challenging period. We are not playing catch-up with associate wages and are pleased these investments are paying off.",
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      "text": "We have made significant investments in our associate training and wages over the past few years leading to improved customer service, an essential attribute in this challenging period. We are not playing catch-up with associate wages and are pleased these investments are paying off. — CFO Q1'23 May 2023",
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      "text": "Source: Proxy Statements, Q1'23 Conf Call",
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      "text": "Median Pay of Associates (ex: CEO) table comparing FND to peers 2020-2023",
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      "text": "#10: FND Is Experiencing The Highest Wage Pressures In The Industry.....",
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