Mar 10, 2023
LL Flooring Sales Decrease
LL Flooring Holdings, Inc. had net sales of $263.9 million in the fourth quarter of 2022, a decrease of 7.5 per cent compared to $285.3 million in the prior-year period. Growth in sales to Pro customers partially offset the decline. Gross profit was $94.8 million, a drop of 11 per cent versus $106.5 million year over year. Net loss was $15.1 million, a 46.6 per cent increase compared to the net loss of $10.3 million in the year-ago period. Adjusted gross margin of 35.7 per cent decreased 170 basis points as a percentage of net sales compared to the same period last year, reflecting higher material and transportation costs.
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