Flooring and installation is always priced per square foot. The average price of flooring sold at LL is about $2.00 per sq.ft. A 1% increase would result in the price of that flooring increasing to $2.02 per sq.ft. It’s really not a big difference. The average box of flooring contains about 20 sq.ft of product. That box would now cost about 40 cents more. So instead of costing $40, it would cost $40.40. Again, not a big difference.
The average customer purchase at LL is about $1300 as stated in the last annual report. A 1% price increase would add $13 to that price. Once a customer has found the perfect flooring for their project and is ready to spend $1300, would they really walk away from a purchase if it cost $13 more? Very unlikely.