LL Flooring Slips To Loss In Q2 On Weak Sales

(RTTNews) - LL Flooring Holdings, Inc. (LL), a specialty retailer of hard-surface flooring, reported Wednesday that its second-quarter net loss was $39.00 million, compared to prior year's profit of $2.74 million.

Loss per share was $1.35 for the second quarter, compared to net income per share of $0.09 for the second quarter of last year.

Adjusted loss per share was $1.28, compared to adjusted earnings per share of $0.13 a year ago.

Net sales were $236.42 million, down 20.9 percent from last year's $298.96 million, driven by a decrease in transaction count reflecting by lower spending by consumers and Pros.

Total comparable store sales decreased 22.2 percent versus the same period last year.

Looking ahead for fiscal 2023, the company expecs revenues to continue to be challenged due to macro uncertainty.

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