LL - LL Flooring slides to new low after soft sales demand inflation whack Q4 results

LL Flooring Holdings ( NYSE: LL ) carved out a new 52-week after the company reported revenue, EPS, comparable sales, and gross margin below expectations with its Q4 earnings report .

A decrease in sales to consumers could not be offset by higher sales to Pro customers. Significantly higher material and transportation costs during the quarter were only partially offset by LL via pricing, promotion, and alternative country/vendor sourcing strategies. Adjusted operating margin plunged 690 basis points to -3.1% of sales.

CEO update: "In the near term, we continue to navigate a dynamic macroeconomic environment yet we are confident the long-term fundamentals of our business are strong. We believe we are successfully gaining traction on several of our operating strategies, such as our Pro growth strategy and innovating new products, which gives us confidence in achieving long-term sustainable growth."

Shares of LL Flooring ( LL ) were down 14.46% at 11:15 a.m. on Wednesday and are off more than 70% over the last year. LL traded as low as $4.32 earlier in the session after being a $30 stock at the beginning of 2021.

The Seeking Alpha Quant Rating on LL was been on the right side of the trade with stock rated at Strong Sell or Sell since last summer.

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