Welcome to our dedicated page for LL Flooring Holdings news (Ticker: LL), a resource for investors and traders seeking the latest updates and insights on LL Flooring Holdings stock.
LL Flooring Holdings, Inc. (symbol: LL) is a leading specialty retailer in the hardwood flooring industry across North America, with a significant presence in the U.S. and Ontario, Canada. Established in 1994 by Tom Sullivan, the company initially started by offering surplus building materials at discounted prices. Recognizing a gap in the market for affordable hardwood flooring, the company pivoted to directly sourcing from vendors and mills, providing high-quality assortments at everyday low prices.
LL Flooring's product range is extensive, including domestic and exotic hardwood species, engineered hardwood, laminate, resilient-vinyl, bamboo, and cork flooring. Additionally, the company offers a variety of flooring enhancements and accessories such as moldings, noise-reducing underlay, adhesives, and flooring tools. These products cater to a wide array of customers, including DIY (do-it-yourself), DIFM (do-it-for-me), and commercial clients.
The firm operates through its retail store operations segment, which contributes a significant portion of its revenue, primarily from laminate, vinyl, engineered vinyl plank, and porcelain tile. The Bellawood brand, known for its premium quality, is a core offering of LL Flooring.
In recent years, LL Flooring Holdings has focused on expanding its product lines and enhancing customer experience through superior service. The company’s strategy includes opening new retail locations, improving online platforms, and forming strategic partnerships to boost its market presence. Financially, LL Flooring continues to show resilience, adapting to market trends and consumer demands effectively.
The latest news on LL Flooring Holdings, Inc. highlights ongoing projects, financial performance, and strategic initiatives aimed at strengthening their market position. This includes collaboration with suppliers to ensure sustainable sourcing and introducing innovative flooring solutions to meet evolving customer needs.
LL Flooring Holdings, a prominent retailer in hard-surface flooring across North America, will release its first quarter 2023 financial results on May 8, 2023. An accompanying conference call will take place at 8:00 a.m. Eastern Time on the same day. Investors can join by calling (833) 470-1428 or (929) 526-1599 using pin number 223759. A replay will be accessible shortly after the call and will be available until June 5, 2023. LL Flooring, which boasts over 440 stores nationwide, offers a variety of flooring products including waterproof vinyl, solid hardwood, and laminate. The company focuses on providing a quality customer experience both online and in-store, supported by expert staff and extensive resources.
LL Flooring reported disappointing financial results for Q4 and FY 2022, with net sales down 7.5% to $263.9 million and full-year sales decreasing 3.6% to $1,110.7 million. Comparable store sales dropped 9.5% in Q4 and 5.8% for the year. The gross margin fell to 35.9%, primarily due to rising material and transportation costs. The company faced an operating loss of (6.6)%, with a significant non-cash charge for goodwill impairment amounting to $9.7 million. Despite these challenges, LL Flooring plans to enhance brand awareness and improve efficiency in 2023 while navigating a volatile economic landscape.
LL Flooring announced its plans to release financial results for the fourth quarter and full year 2022 on March 1, 2023. A conference call will be held on the same day at 8:00 a.m. Eastern Time, accessible by dialing (844) 200-6205 or (646) 904-5544, with a replay available until March 8, 2023.
LL Flooring, a leading retailer of hard-surface flooring in North America, operates over 440 stores nationwide, offering over 500 varieties of flooring options. The company focuses on delivering excellent customer experiences both online and in-store.
LL Flooring, formerly Lumber Liquidators, has launched its second season of the ProFiles podcast hosted by Tom Kraeutler. The six-episode series showcases insights from industry professionals, featuring guests like Chris Lambert, CEO of Life Remodeled, and Cole Burdette of Neuma Capital. The podcast emphasizes advancements in design and construction, aiming to engage professionals in the field. Episodes will release weekly through February 16. LL Flooring operates 442 stores, providing over 500 varieties of high-quality flooring.
LL Flooring (NYSE: LL) recently announced plans to slow down new store openings and resume share repurchases in 2023. CEO Charles Tyson mentioned this decision is due to the current macroeconomic environment. In 2022, LL Flooring opened 18 new stores and forecasts 3 to 4 openings for 2023. The company currently has $43 million allocated for share repurchase under its existing program, supported by $127.8 million available for borrowing and $6.1 million in cash. The share repurchase program allows flexibility based on market conditions.
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