LL Flooring, a specialty retailer of hard-surface flooring in North America based in Richmond, Virginia, reported net sales decreased 0.8% to $299 million from the second quarter of 2021. The company reported record sales to pro customers, which partially offset a decrease in sales to consumers and a 1.1% decrease in net services sales. Comparable store sales. decreased 3.1% from the second quarter of 2021, but increased 28.2% on a two-year stack basis and 6.9% on a three-year stack basis.
“During the second quarter, our teams delivered our fifth consecutive quarter of double-digit year-over-year growth in sales to Pro customers, opened six new stores and rebuilt our inventory levels," said President and Chief Executive Officer Charles Tyson said.
He said the year-over-year decrease in comparable store sales reflected continued lower spending by consumers versus last year, which he said reflects pressure from inflation and higher interest rates, and consumer preference to spend more on travel and entertainment.
“While we are cautious about the near-term consumer spending environment, we feel good about the strength in home remodel trends as well as the demand for hard-surface flooring over the medium to long term," Tyson said. "We remain committed to investing in our six strategic pillars that will position us for long-term growth.
For more information, visit llflooring.com.