LL Flooring Holdings, Inc. LL remains committed to accelerating store openings, increasing brand awareness, improving customer experience and product innovation to drive overall growth. In fact, increasing the number of stores is an important strategy to increase LL Flooring brand awareness. As a result, management announced the opening of seven stores in the first quarter of 2022.
The new stores strive to provide a seamless customer experience. Customers can view the collection of on-trend flooring and order free samples at llflooring.com. These outlets have a group of flooring experts to guide customers, including Pros, through their flooring journey. The locations display over 500 offers from LL Flooring displayed on huge sample boards. These planks include waterproof vinyl planks, engineered hardwood, porcelain tile, bamboo, and cork.
Additionally, the latest stores include design centers to offer video installation, where store associates can help customers get the best floor for any vision or project. Associates can show what the floor will look like using the Picture It Floor Visualizer. In addition to this, the Picture It floor viewer allows customers to upload a photo of their rooms and select from several of the LL floor designs to preview the view of the floors.
The new stores also have stock available for instant delivery. The aforementioned seven stores are introduced in Burlington, North Carolina; Framingham, MA; Menomonee Falls, WI; Muncie, IN; Quick City, SD; St. Augustine, FL and Tuscaloosa, AL. Including these outlets, LL Flooring’s store base stands at 431.
Overall, the new exotic stores are equipped with various online tools and video capabilities, as well as a team of design-focused flooring experts to meet customer needs. These stores are likely to attract more customers and, in turn, drive higher sales for that Zacks Rank #1 (Strong Buy) business. You can see the full list of today’s Zacks #1 Rank stocks here.
On its latest earnings call, management said it intended to open 20 to 25 standard-format stores this year. LL Flooring looks forward to expanding its footprint in new and existing markets with greater potential. LL remains encouraged to launch more stores in 2023 and 2024, with a target of opening approximately 100 stores over the next three years.
Additionally, management is focused on increasing Pro sales. In fact, sales to Pro customers are an important aspect of its long-term growth strategy. LL Flooring delivered record Pro sales in 2021 thanks to strong execution of its strategic efforts. LL’s Pro relationship program remains strong, delivering improved Pro customer retention and increased sales per Pro customer. This year, management is on track to develop services and marketing strategies to further drive Pro sales.
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Although shares of this hard-surface flooring retailer have fallen 12.8% in the past three months, they have outperformed the industry’s 22.5% decline.
Stronger Choices in Retail
A few other retail sector stocks that investors can consider include Capri Holdings CPRI, Operation of the starter barn BOOT and Tapestry TRP.
Capri Holdings, which offers accessories and footwear, currently carries a No. 2 (buy) Zacks rank. CPRI has an expected earnings per share (“EPS”) growth rate of 53.9% over three to five years.
Zacks’ consensus estimate for Capri Holdings’ current year sales and EPS suggests growth of 37% and 215.8%, respectively, over the corresponding figures for the prior year. CPRI has a four-quarter earnings surprise of 1,018.2% on average.
Boot Barn Holdings, a lifestyle retailer of Western and work-related footwear, apparel and accessories, currently has a Zacks ranking of 2. BOOT has an expected EPS growth rate of 20% for three to five years .
Zacks’ consensus estimate for Boot Barn Holdings’ current year sales and EPS suggests growth of 62.6% and 220.8%, respectively, over the corresponding figures for the prior year. BOOT has a trailing four-quarter earnings surprise of 47.1%, on average.
Tapestry, a renowned designer of fine accessories, currently carries a Zacks Rank #2. TPR has a four-quarter earnings surprise of 28.2% on average.
Zacks’ consensus estimate for Tapestry sales and EPS for the current year suggests growth of 17.5% and 22.9%, respectively, over the corresponding levels of the prior year. TPR has an expected EPS growth rate of 10% over three to five years.
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