Thu, May 21, 9:16 AM
Thu, May 21, 8:37 AM
Tue, May 19, 11:09 AM| 2 Comments
Tue, May 12, 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.
Thu, May 7, 9:23 AM| Comment!
Fri, May 1, 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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Wed, Apr. 29, 12:45 PM
Wed, Apr. 29, 9:17 AM
Wed, Apr. 29, 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.
Wed, Apr. 29, 6:15 AM| 21 Comments
Tue, Apr. 28, 5:30 PM
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Tue, Apr. 28, 8:23 AM
- Wedbush Securities issues a positive outlook on Lumber Liquidators (NYSE:LL) in front of the company's Q1 earnings release and business update.
- A trade into the print looks "compelling" to the investment firm.
- Lumber Liquidators reports results tomorrow with the consensus estimate standing at $258M for revenue and $0.16 for EPS. Q&A from management on order demand will be key during the conference call.
- LL -0.4% premarket.
Tue, Apr. 21, 11:37 AM
- Cantor Fitzgerald initiates coverage on Lumber Liquidators (LL +3.2%) with a Buy rating and $45 price target.
- "We believe the recent controversy surrounding the company has created an opportunity to invest in a differentiated, growth-driven business model at an attractive valuation," reads the note from analysts Laura Champine and Jason Smith.
- Though acknowledging the "real risk" that federal testing on laminate products will hurt Lumber Liquidators, the Cantor team see value at current levels.
- Whitney Tilson has a series of article on SA laying out his bear thesis on LL with plenty of exclamation points.
Wed, Apr. 8, 10:38 AM
- Lumber Liquidators (LL +1.1%) announces it doubled its production capacity at a finishing line in Virginia.
- The company invested $5M to add the ability to give products handscraped and wire brushed looks.
- A new vacuum stacker at the facility could allow Lumber Liquidators to source more materials from North America.
Mon, Apr. 6, 8:20 AM
- Lumber Liquidators (NYSE:LL) is seeing some buying action in early trading.
- A bullish note Raymond James on testing of laminated wood flooring products is sparking the mini-rally.
- The investment firm's message is similar to Lumber Liquidators claim that products comply with the standards set by the California Air Resource Board.
- LL +2.44% premarket to $34.01.
Thu, Apr. 2, 7:10 AM
- Lumber Liquidators (NYSE:LL) provides a fresh business update on Q1.
- The company says sales grew 5.6% to $260M.
- Sales fell off 12.8% in March to $89.4M amid negative publicity.
- Comps sales were down 1.8% during the quarter on a 6.2% decrease in average sale price.
- Open orders at the end of the quarter +13.5% Y/Y to $46.4M.
- Gross margin rate expected at 35.5%-36.5% vs. 41.1% a year ago.
- Full results will be released on April 29.
- LL +3.0% premarket on light volume.
LL vs. ETF Alternatives
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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