So? For the last 4 years the company has been hemorrhaging money. It lost $60 million in 2018 alone. This is a corporation, not a charity. It cannot keep selling flooring at a loss. Simple as that.
LL has the lowest gross margin in the industry. Even if Pro customers shop around and are focused purely on price, LL would still be the cheapest option after the price increase.
In any case, if the flooring market was all about price, LL would be taking market share from everybody. And it is not. Because price is much less of a factor than it once was. By increasing Pro incentives and store opening hours, LL can drive those customers to the stores and they won’t care about a 1% price increase.