27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
LL Flooring Holdings, Inc (NYSE:LL) reported a second-quarter FY23 sales decline of 20.9% year-on-year to $236.42 million, missing the analyst consensus of $257.90 million.
Comparable store sales decreased 22.2% versus last year.
Adjusted EPS loss of $(1.28) missed the consensus of $(0.41).
Gross margin expanded 10 basis points Y/Y to 35.8%, and the gross profit fell 20.8% to $84.5 million.
Operating margin fell 1,030 basis points to (8.7%), and the operating loss for the quarter was ($20.5) million versus a profit of $4.7 million last year.
The company held $7.7 million in cash and equivalents as of June 30, 2023. Cash flow from operating activities for six months totaled $38.9 million.
Outlook: LL is not providing financial guidance at this time, citing uncertainty in the macroeconomic environment due to consumer confidence, inflation, a volatile interest and mortgage rate environment, and lower existing home sales.
LL Flooring sees FY23 capital expenditure of $15 million - $20 million. It expects to open three new stores in 2023.
The company expects full-year revenues to continue to be challenged due to macro uncertainty.
Price Action: LL shares traded lower by 3.07% at $3.30 on the last check Wednesday.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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