LL Flooring Provides Business Update in Advance of Investor Meetings

LL Flooring Provides Business Update in Advance of Investor Meetings

RICHMOND, Va.–(Enterprise WIRE)–LL Flooring, (NYSE: LL), a person of the nation’s most significant specialty retailers of higher-good quality, tough-floor flooring, currently offered a company update in progress of trader meetings, noting the Company’s strategies to gradual new keep openings and recommence share repurchases in 2023 underneath its current share repurchase method.

“We are self-confident in our extended-term development procedures and our unique positioning of featuring the superior-contact provider of an impartial mixed with the value and convenience of a national model,” mentioned President and Chief Govt Officer Charles Tyson. “In light-weight of the present-day macroeconomic setting, we believe that it is prudent to slow our new retail store opening cadence and allocate capital toward share repurchases less than our current authorized approach.”

The Enterprise just lately opened two new retailers in Bellingham, Washington, and Joplin, Missouri, bringing complete new retailer openings to 18 in 2022. On the lookout forward to 2023, the Corporation presently expects to open three to 4 new stores. The Corporation will continue to assess its new keep opening tactic dependent on the working natural environment.

Share Repurchase Application

The Organization has $43 million available for repurchase below its current share repurchase application. The timing and total of any share repurchases below the authorization will be identified by management at its discretion and dependent on industry conditions and other things to consider. Share repurchases less than the authorizations may well be produced as a result of open up sector purchases or pursuant to pre-established trading programs conference the requirements of Rule 10b5-1 underneath the Securities Exchange Act of 1934. The system does not obligate LL Flooring to obtain any individual amount of its frequent inventory, and the repurchase program could be suspended or discontinued at any time at the Company’s discretion.

Repurchases beneath the method will be funded from the Company’s present cash and money equivalents, borrowings in opposition to the Company’s Credit history Settlement and upcoming cash movement. As of September 30, 2022, the Business experienced $127.8 million available for borrowing on its revolving line of credit score and $6.1 million of funds and cash equivalents.

About LL Flooring

LL Flooring is 1 of the country’s major specialty merchants of challenging-floor flooring with 442 retailers nationwide. The Corporation seeks to offer the most effective client experience on the internet and in suppliers, with far more than 500 types of tough-floor floors showcasing a variety of top quality models and on-development models. LL Flooring’s on-line tools also aid empower clients to discover the appropriate answer for the room they’ve envisioned. LL Flooring’s substantial collection features water-proof hybrid resilient, waterproof vinyl plank, reliable and engineered hardwood, laminate, bamboo, porcelain tile, and cork, with a wide vary of flooring enhancements and add-ons to complement. LL Flooring outlets are staffed with flooring specialists who offer assistance, Professional partnership expert services and installation solutions for all of LL Flooring’s products and solutions, the the vast majority of which is in inventory and ready for supply.

Study Far more about LL Flooring

CAUTIONARY Be aware Concerning Ahead-Hunting STATEMENTS

This press launch incorporates statements of the Company’s anticipations, intentions, options and beliefs that constitute “forward-looking statements” in just the meanings of the Private Securities Litigation Reform Act of 1995. These statements, which could be recognized by terms this kind of as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “thinks,” “estimates,” “seeks,” “predicts,” “could,” “projects,” “potential” and other identical conditions and phrases, are primarily based on the beliefs of the Company’s management, as nicely as assumptions produced by, and facts presently accessible to, the Company’s administration as of the date of this sort of statements. These statements are issue to pitfalls and uncertainties, all of which are tough to forecast and quite a few of which are beyond the Company’s regulate.

The Corporation precisely disclaims any obligation to update these statements, which talk only as of the dates on which these types of statements are designed, apart from as could be expected below the federal securities regulations. For a discussion of the pitfalls and uncertainties that could trigger real success to vary from these contained in the ahead-searching statements, see the “Risk Factors” part of the Company’s yearly report on Type 10-K for the 12 months ended December 31, 2021, and the Company’s other filings with the Securities and Trade Commission (“SEC”). These kinds of filings are available on the SEC’s web-site at www.sec.gov and the Company’s Investor Relations website at https://investors.llflooring.com.