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Aug. 4, 2015, 5:30 PM
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Jun. 15, 2015, 8:51 AM
- Lumber Liquidators (NYSE:LL) announces it promoted Marco Pescara to serve as its Chief Merchandising and Marketing Officer.
- The move will combine the marketing and merchandising departments under Pescara's control.
- Chief Merchandising Officer William Schlegle has been let go to make way for Pescara.
- LL -1.77% premarket.
Jun. 12, 2015, 11:22 AM
- Shares of Lumber Liquidators (NYSE:LL) are up 6.65% on some vague market rumors that home improvement giant Home Depot is interested in acquiring the embattled flooring seller.
- Home Depot is trading in-line with market averages as investors ignore the speculation.
Jun. 8, 2015, 1:39 PM
- Lumber Liquidators (LL -4.3%) trades lower in reaction to questions being raised by the EPA on the company's do-it-yourself home testing method and some claims around formaldehyde contamination.
- The government agency is also pointing out that it doesn't have established standards on formaldehyde, although rules proposed in 2013 could be implemented this year.
- EPA statement on Lumber Liquidators
Jun. 3, 2015, 9:37 AM| Jun. 3, 2015, 9:37 AM | 14 Comments
Jun. 1, 2015, 10:54 AM
- Lumber Liquidators (LL +1.1%) discloses it relabeled some flooring products because a supplier placed California Air Resources Board compliance numbers on the items even though they weren't applicable.
- "This labeling issue does not impact the CARB Phase II emissions compliance for these products, " states the company.
- Question over the relabeled products cropped up last week.
- SEC Form 8-K
May 21, 2015, 9:16 AM
May 21, 2015, 8:37 AM
- Lumber Liquidators (NYSE:LL) CEO Robert Lynch has resigned unexpectedly.
- Founder Thomas Sullivan will take over as the interim CEO while the company initiates a national search for a replacement.
- LL -17.3% premarket to $20.90.
May 19, 2015, 11:09 AM| May 19, 2015, 11:09 AM | 2 Comments
May 12, 2015, 8:12 AM
- Lumber Liquidators (NYSE:LL) is lower in early trading after reports emerge indicating insurance companies are refusing to defend the company in class-action lawsuits.
- The insurers are leaning on some of the fine print in the policies to avoid jumping into the cases.
- Lumber Liquidators has filed breach of contract lawsuits against several of the insurance companies in response.
- LL -2.39% premarket to $27.39.
May 7, 2015, 9:23 AM
- Lumber Liquidators (NYSE:LL) announces it will suspend sales of all Chinese-made laminate flooring.
- The company has also engaged former FBI director Louis Freeh's firm to assist it with a review of its policies.
- LL -0.9% premarket.
May 1, 2015, 9:30 AM
- Xuhua Zhou, who raised the original red flag on Lumber Liquidators' floors back in 2013, says Lowe's (NYSE:LOW) floors are riddled with the same formaldehyde issues that sent LL's stock into a tailspin after the infamous 60 Minutes segment on March 1.
- Independent tests show that one of Lowe's floors scores 10x the allowed formaldehyde threshold. To put that in context, 60 Minutes tested 31 samples from Lumber Liquidators; Lowe's Chocolate Cherry Hickory would have been the third worst of all 31 samples. The results from Lowe's were 1.134 ppm. The CARB 2 threshold is 0.11 ppm.
- 60 Minutes seems to have taken Global Community Monitor's testing of Home Depot (NYSE:HD) and Lowe's products at face value, and did no independent testing. Still, Zhou's research suggests that Home Depot's flooring is CARB 2 compliant.
- Source: Lowe's Laminate Flooring May Have Issues Similar To Lumber Liquidators'
- Note: LOW puts were 20x more active than usual yesterday
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Apr. 29, 2015, 12:45 PM
Apr. 29, 2015, 9:17 AM
Apr. 29, 2015, 7:35 AM
- Lumber Liquidators (NYSE:LL) reports comparable-store sales fell 1.8% in Q1 on a 4.4% drop in customers invoiced.
- The comp was -17.8% during the month of March (60 Minutes aired its damaging piece on March 1).
- The company's gross margin rate fell 590 bps to 35.2% due to promotional pricing in the quarter.
- SG&A expense rate +550 bps to 37.5%.
- Guidance: Q2 sales through April 27 are down 1.9% Y/Y. The company expects a gross margin rate of 31% to 32% for April. No full-year guidance is issued.
- Previously: Lumber Liquidators misses by $0.44, beats on revenue
- LL -13.1% premarket to $29.05.
Apr. 29, 2015, 6:15 AM
- Lumber Liquidators (NYSE:LL): Q1 EPS of -$0.29 misses by $0.44.
- Revenue of $259.96M (+4.3% Y/Y) beats by $1.72M.
Lumber Liquidators Holdings Inc is a specialty retailer of hardwood flooring in North America. It offers products including domestic hardwood species, engineered hardwood, laminate, vinyl plank, bamboo and cork.
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