Retailer LL Flooring is filing for bankruptcy and looking to close over 90 of its stores, according to a filing with the U.S. Securities and Exchange Commission (SEC).  On Sunday, the company filed for relief under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. It aims to "pursue a going-concern sale of its business," the company said in a statement."After comprehensive efforts to enhance our liquidity position in a challenging macro environment, a determination was made that initiati ...

Fenton Roman/iStock via Getty Images Introduction Opportunities like this rarely present themselves so clearly like the case of LL Flooring Holdings, Inc. (NYSE:LL). The company is one of the largest retailers of hard-surface flooring in America, with 435 retail stores and revenues hovering around $1 Billion per year over the last ten years. Gross profits have ranged from $418 to $284 million within that time. Revenues have fallen off precipitously in the past two years, while SG&A, ranging from $314 to ...

LL Flooring Holdings, Inc. (NYSE:LL) Q1 2024 Earnings Conference Call May 8, 2024 8:00 AM ET Company Participants Bruce Williams - IR, ICR Charles Tyson - President and CEO Andrew Wadhams - SVP, Retail & Commercial Sales Bob Madore - CFO Conference Call Participants Laura Champine - Loop Capital Operator Hello, and welcome to today's LL Flooring Q1 '24 Earnings Conference Call. My name is Bailey, and I'll be the moderator for today. All lines will be muted during the presentation portion of the call, with a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33767 LL Flooring Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 27-1310817 (State or other jurisdiction o ...

Exhibit 99.1 For Immediate Release LL FLOORING REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS RICHMOND, Va., May 8, 2024 – LL Flooring Holdings, Inc. ("LL Flooring" or "Company") (NYSE: LL), a leading specialty retailer of flooring in the U.S., today announced financial results for the quarter ended March 31, 2024. "First quarter business conditions remain difficult as we continue to experience the impact of weaker home sales, elevated interest rates and inflation, which have led to softness in home improveme ...

Financial Data and Key Metrics Changes - In Q4 2023, total revenues decreased by 19.7% year-over-year to $211.8 million, with comparable store sales declining by 20.2% [7][25] - For the full year, net sales fell by 18.5% to $904.7 million, and comparable store sales decreased by 19.6% [25] - Adjusted gross profit for Q4 was $81.1 million, down 13.9% from the previous year, while adjusted gross margin improved by 260 basis points to 38.3% [26] - The company reported an adjusted operating loss of $18.2 million for Q4, compared to a loss of $8.2 million in the prior year [28] Business Line Data and Key Metrics Changes - The decline in revenues was driven by decreases in both Pro and consumer segments, with a 17.8% decline in transactions and a 1.7% decline in average ticket size [25] - Average retail price per merchandise unit sold decreased by 2.8% compared to Q4 2022 [25] Market Data and Key Metrics Changes - Existing home sales declined by 6.1% year-over-year, reaching the lowest level in 30 years, impacting home improvement spending [6] - The remodeling spending is expected to decline in 2024 for the first time since 2010, with pressures anticipated in the first three quarters [6] Company Strategy and Development Direction - The company is focused on five strategic initiatives: growing the Pro business, enhancing customer engagement through CRM, increasing brand awareness, driving product innovation, and ensuring a consistent customer experience [11][23] - LL Flooring aims to capture long-term market share in a $35 billion fragmented flooring market by leveraging its national scale and expertise [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the macro environment remains challenging for home improvement, with expectations of continued pressures from elevated prices and interest rates in 2024 [23] - Despite current challenges, the company remains optimistic about long-term industry tailwinds driven by aging housing stock and rising home values [9] Other Important Information - The company successfully reduced inventory by 20% year-over-year, aligning with sales performance and improving working capital management [29] - The carpet rollout is seen as a significant growth opportunity, with plans to expand to 54 more stores in the upcoming quarter [36][37] Q&A Session Summary Question: What's behind the decision to keep spending on SG&A despite declining sales? - Management highlighted the importance of investing in the carpet rollout, which is expected to increase customer traffic and improve overall growth [36] Question: What is the plan for carpet rollout next year? - The company plans to roll out carpet offerings to 54 more stores in the next quarter and will provide updates on future expansions [37] Question: Is there a scenario where the company generates cash from operations this year? - Management indicated that effective inventory management and accounts payable strategies would contribute positively to operating cash flow in 2024 [39]

RICHMOND, Va.--(BUSINESS WIRE)--LL Flooring Holdings, Inc. (“LL Flooring” or “Company”) (NYSE: LL), a leading specialty retailer of hard and soft surface flooring in the U.S., today announced financial results for the fourth quarter and year ended December 31, 2023. "Fourth quarter business conditions remain difficult as we continue to experience the impact of weakness in existing home sales and the corresponding softness in the home improvement industry. We reported comparable store sales down 19.6% as we ...

EXHIBIT 99.1 For Immediate Release LL FLOORING REPORTS FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS RICHMOND, Va., March 1, 2024 – LL Flooring Holdings, Inc. ("LL Flooring" or "Company") (NYSE: LL), a leading specialty retailer of hard and soft surface flooring in the U.S., today announced financial results for the fourth quarter and year ended December 31, 2023. "Fourth quarter business conditions remain difficult as we continue to experience the impact of weakness in existing home sales and the cor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33767 LL Flooring Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 27‑1310817 (State or other jurisdiction of inc ...

RICHMOND, Va.--(BUSINESS WIRE)--LL Flooring Holdings, Inc. (“LL Flooring” or “Company”) (NYSE: LL), a leading specialty retailer of hard-surface flooring in North America, today announced that it intends to host a conference call and audio webcast on March 4, 2024, at 8:00 a.m. Eastern Time. The conference may be accessed by dialing (833) 470-1428 or (929) 526-1599 and entering pin number 918613. You may also use this link in lieu of speaking to an operator. A replay will be available approximately two hour ...