LL Flooring, a specialty retailer of hard-surface flooring in the U.S., reported net sales declined 19.7% to $215.8 million for the third quarter, which ended September 30, 2023. The company attributed the decrease to a decline in transaction count reflecting lower spending by consumers and pros. Total comparable store sales decreased 20.5% versus the same period last year.
"We continue to navigate uncertainty in the macroeconomic environment due to low consumer confidence, inflation, an elevated interest and mortgage rate environment and lower existing home sales," said President and Chief Executive Officer Charles Tyson. "Despite external headwinds, we remain confident in our ability to deliver the high-touch service of an independent flooring retailer combined with the value, assortment, and convenience of a national brand."