Lumber Liquidators knocked down by weak results

• Lumber Liquidators (NYSE:LL) is lower in early trading after reporting a 10% drop in comparable-store sales in Q2.
• The company reported a 7.6% decline in number of customers billed and a 2.4% drop in average sale total.
• Promotional pricing during the quarter led to a plunge in LL's gross margin rate to 25.1% from 40.4%.
• Guidance: The company expects to open 20 to 25 new stores in the expanded format. No outlook for sales or EPS is doled out by management.
• Previously: Lumber Liquidators misses by $0.81, misses on revenue
• LL -19.3% to $14.81.