LL Flooring slumps as Q3 sales fall

Ll Flooring Holdings

02/11/2022 11:49

** Shares of LL Flooring Holdings Inc  LL.N  plunge 40.8% to
$5 premarket 
    ** LL posts Q3 net sales drop 4.8% to $268.8 mln
 urn:newsml:reuters.com:*:nBw4RZH2Fa
    ** Co says Q3 comparable store sales fell 7.3%, primarily
due to continued lower spending by inflation-hit consumers
    ** Adds it expects consumer spending headwinds to persist
throughout the remainder of 2022
    ** Co also expects higher transportation and material cost
headwinds to gross margins 
    ** As of last close, stock down ~50% this year
 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))