LL Flooring Plans To Slow New Store Openings; Recommence Share Repurchases In 2023
(RTTNews) - Providing a business update in advance of investor meetings, specialty retailers LL Flooring (LL) said Tuesday it plans to slow new store openings and recommence share repurchases in 2023 under its existing share repurchase program
The Company recently opened two new stores in Bellingham, Washington, and Joplin, Missouri, bringing total new store openings to 18 in 2022.
Looking ahead to 2023, the Company currently expects to open three to four new stores. The Company will continue to evaluate its new store opening strategy based on the operating environment.
The Company has $43 million available for repurchase under its existing share repurchase program. The repurchases will be funded from the Company's existing cash and cash equivalents, borrowings against the Company's Credit Agreement and future cash flow.
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