Shares of LL Flooring Holdings, Inc. (LL), a specialty retailer of hard-surface flooring, are down more than 13% Wednesday morning after reporting a loss in the third quarter.
Looking forward, the company said it expects consumer spending headwinds to persist throughout the remainder of 2022. It also sees gross margins to be impacted by higher transportation and material costs throughout this year.
LL Flooring reported a loss of $3.77 million or $0.13 per share in the third quarter, compared with profit of $8.78 million or $0.30 per share in the same quarter a year ago.
Excluding one-time items, loss was $0.14 per share.
Sales for the quarter decreased 4.8% year-on-year to $268.8 million.
LL is at $7.30 currently. It has traded in the range of $6.00-$19.21 in the last 52 weeks.
Source: Read Full Article
-
"Market Manipulation?" — Former SEC Official Reveals Factors Propelling Bitcoin’s Latest Price Ascent
-
US Presidential Candidate Pledges Dollar Backing With Bitcoin, No Bitcoin Capital Gains Tax
-
$BTC Is Up 25% Since Peter Schiff Said It Was ‘Time To Drop Bitcoin’
-
Cryptos Brace For Fed Review Amidst Rate Hike Uncertainty
-
Cathie Wood: SEC Staff Understand Bitcoin and Its Merits