LL Flooring's 1Q 2021 net sales of $283.5 million increased $16.1 million, or 6%, from the 1Q 2020. Net income for the 1Q 2021 decreased $1.6 million to $10.6 million compared to $12.2 million for the 1Q 2020. Operating income was $13.1 million for the 1Q 2021 compared to $8.8 million for the 1Q 2020.

LL Flooring's 1Q net sales increased by 6% to $283.5 million

LL Flooring"s 1Q net sales increased by 6% to $283.5 million

Photo: Charles Tyson, President and CEO

LL Flooring's 1Q 2021 net sales of $283.5 million increased $16.1 million, or 6%, from the 1Q 2020. During the 1Q 2021, the Company opened three new stores and closed one store, bringing total store count to 412. 

Gross profit increased 10.1% in the 1Q 2021 to $115.6 million from $105 million in the comparable period in 2020 and gross margin increased 150 basis points to 40.8% in the 1Q 2021 from 39.3% in the 1Q 2020. 

Operating income was $13.1 million for the 1Q 2021 compared to $8.8 million for the 1Q 2020.  Adjusted operating Income was $14.4 million for the 1Q 2021, a year-over-year increase of $4.8 million compared to adjusted operating income of $9.6 million for the 1Q 2020.  As a percent of net sales, adjusted operating margin for the 1Q 2021 was 5.1%, up 150 basis points from the 1Q 2020.   

Net income for the 1Q 2021 decreased $1.6 million to $10.6 million compared to $12.2 million for the 1Q 2020. Adjusted earnings for the 1Q 2021 were $10.2 million, a year-over-year decrease of $2.6 million compared to adjusted earnings of $12.8 million for the 1Q 2020, reflecting the income tax benefit in 2020. 

"During the 1Q, we delivered positive 6.9% comparable sales and increased our operating income from the 1Q 2020, driven by continued execution on our transformation initiatives, strong demand for home improvement projects and accelerating year-over-year growth in our installation business," said President and CEO Charles Tyson.

LL Flooring is one of North America's leading specialty retailers of hard-surface flooring. 

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