LL Flooring to Open 4 Stores in '23, Resume Stock Repurchase Plan

Richmond, VA, December 13, 2022-LL Flooring, formerly Lumber Liquidators, provided a business update in advance of investor meetings, noting the company’s plans to slow new store openings and recommence share repurchases in 2023 under its existing share repurchase program.

The company recently opened two new stores in Bellingham, Washington, and Joplin, Missouri, bringing total new store openings to 18 in 2022. Looking ahead to 2023, the company currently expects to open three to four new stores. The company will continue to evaluate its new store opening strategy based on the operating environment.

The company has $43 million available for repurchase under its existing share repurchase program. The timing and amount of any share repurchases under the authorization will be determined by management at its discretion and based on market conditions and other considerations.