Listening to the conference call made my blood boil.
The execs were so lackadaisical about the coming year’s expected performance. They had no shame in saying that same store sales growth would only be in the “low single digits”.. What gives??
We have all year to look forward to and we’re only in March! Lets get those SSS figures up up up! Where’s the drive and motivation?? What’s the plan guys? Is the plan to grow SSS at 2%? Really??
Low single digits – will that even cover inflation?
How come our competitors are going for the jugular and our guys are sitting on their laurels?
Maybe their bonuses should be in the low single digits!
“the overall flooring industry has grown at a compound annual growth rate of 5.4% from 2012 through 2017. Over the same period, hardwood, laminate and vinyl flooring sales, including the cost of installation grew at a compound annual growth rate of 8.3%. ”
In this same period, LL has grown at a considerably slower pace. The 2% expectation for growth in 2019 is troubling because all the competitors are expected to grow faster. The problem is not macro related, but company specific. This is why we need a clear plan to shock this company back to life.