LL Flooring Sales Declined 19.7% in Q4 2023 on Loss of $17.5 Million

Richmond, VA, March 4, 2024-LL Flooring reported Q4 2023 net sales declined 19.7% to $211.8 million compared to sales of $263.9 million in Q4 2022, driven by a decrease in transaction count and average transaction size reflecting lower spend by consumers and pros.

Total comparable store sales decreased 20.2% versus Q4 2022.

The company reported a $17.5 million loss for Q4 2023, compared to a loss of $17.3 million in Q4 2022.

In Q4 2023, the company closed seven stores and opened one new store, bringing its total store portfolio to 437 stores as of December 31, 2023.

For 2023, net sales decreased 18.5% to $904.7 million compared sales of $1,110.7 million in 2022, driven by a decrease in transaction count and average transaction size reflecting lower spend by consumers and pros.

For 2023, the company reported a net loss of $80.8 million, compared to a loss of $11.7 million in 2022.

Total comparable store sales in 2023 decreased 19.6% versus 2022.