LL Flooring expects to open three to four new stores in 2023

LL Flooring provided a business update in advance of investor meetings, noting the company’s plans to slow new store openings and recommence share repurchases in 2023 under its existing share repurchase program. "We are confident in our long-term growth strategies and our unique positioning of offering the high-touch service of an independent combined with the value and convenience of a national brand," said President and CEO Charles Tyson. "In light of the current macroeconomic environment, we believe it is prudent to slow our new store opening cadence and allocate capital toward share repurchases under our current authorized plan." 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.