LL - LL Flooring Holdings stock higher after Q4 results

LL Flooring Holdings (LL +17.4%) reports net sales decreased 6.2% Y/Y, as double-digit growth in sales to Pro customers and a 6.4% increase in net services sales partially offset a decrease in DIY sales; and increased 4.2% vs. 4Q19, also driven primarily by double-digit growth in sales to Pro customers and net services sales that more than offset a decrease in DIY sales. Total comparable store sales decreased 6.7% for the quarter whereas grew 5.2% for the fiscal year. Adjusted gross margin rate fell 70 bps Y/Y to 37.4%. The company has increased the authorization under its existing share repurchase program by $35.3M to a total of $50M. CEO comment: “We are excited to share today our target for $1.5 billion in net revenue with expanded operating margin by 2024. Our balance sheet is strong, with no debt and total liquidity of $227.2 million at year end, which enables us to

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LL Flooring Holdings stock higher after Q4 results