LL Flooring Sales Decline

LL Flooring Holdings, Inc. had net sales of $279 million for the first quarter of 2022, a decrease of 1.6 per cent compared to net sales in the first quarter of 2021. Comparable store sales decreased 3.6 per cent from the first quarter of 2021, but increased 3.3 per cent on a two-year stack basis. Gross margin for the quarter was 37.3 per cent, a decrease of 350 basis points as a percentage of sales compared to the same period in 2021. Operating margin of 1.8 per cent decreased 280 basis points compared to the prior-year quarter. Overall income before taxes was $5.1 million compared to $13.9 million last year.