LL - Lumber Liquidators Non-GAAP EPS of $0.13 misses by $0.10 revenue of $298.96M misses by $4.04M

• Lumber Liquidators press release ( NYSE: LL ): Q2 Non-GAAP EPS of $0.13 misses by $0.10 .
• Revenue of $298.96M (-0.8% Y/Y) misses by $4.04M .
• 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. The year-over-year decrease in comparable store sales primarily reflected the same drivers as the change in net sales
• Business Outlook:
• The Company continues to expect higher transportation and material costs will be a headwind to gross margins in 2022. The Company expects to continue to partially offset these higher costs through pricing, promotion and sourcing strategies but will monitor the market to inform and guide its decisions
• Consistent with its previously stated investment year in 2022 to support long-term growth, the Company expects SG&A dollar spend and spend as a percent of sales to increase in 2022 compared to 2021
• The Company expects capital expenditures in the range of approximately $23 million to $25 million, primarily to support growth strategies such as new stores
• The Company expects to open 20 to 22 new stores in 2022

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