Jul. 30, 2014, 7:06 AM
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Jul. 10, 2014, 12:47 PM
Jul. 10, 2014, 9:17 AM
Jul. 9, 2014, 4:43 PM
- Lumber Liquidators (LL) reports Q2 sales of $263.1M (+2.3% Y/Y), and expects to report EPS of $0.59-$0.61. Those figures are well below a consensus of $303.2M and $0.90. Gross margin is expected to be down Y/Y.
- The company now forecasts full-year sales of $1.05B-$1.1B and EPS of $2.65-$3.00, below a consensus of $1.16B and $3.34. Same-store sales are expected to be up by a low-single digit %, down from prior guidance of mid-to-high single-digit growth.
- Same-store sales fell 7.1% Y/Y in Q2, much worse than Q1's 0.6% drop and a big reversal from last year's 14.9% growth. SG&A spend rose an estimated 9% Y/Y.
- CEO Robert Lynch: "Customer traffic to our stores was significantly weaker than we expected, particularly in geographic areas severely impacted by the unusually harsh weather in the first quarter ... Our reduced customer traffic has coincided with certain weak macroeconomic trends related to residential remodeling, including existing home sales."
- He adds LL now believes "the prolonged purchase cycle associated with our customers' discretionary, large-ticket home improvement projects is likely to be delayed for some customers into the fall flooring season, and for others, into spring of 2015."
- Shares fell 8.1% in regular trading ahead of the warning.
Jul. 9, 2014, 2:42 PM
- Lumber Liquidators (LL -8.4%) is under pressure after rumors of a takeover of the company by Lowe's start to fizzle out.
- Shares dipped below $70 for the first time in over a year.
Apr. 30, 2014, 7:12 AM| Comment!
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Mar. 6, 2014, 9:19 AM
- Wedbush forecasts home sales will increase at a low single-digit pace in 2014 on a broad cyclical trend that could cut into momentum for housing-related stocks.
- The investment firm turns cautious on Home Depot (HD) with a PT cut to $78 - while Lumber Liquidators (LL) and Bed Bath & Beyond (BBBY) are downgraded to Neutral.
- Earlier: Wedbush chips away at Lowe's
Feb. 19, 2014, 7:01 AM| Comment!
Feb. 19, 2014, 12:05 AM
Feb. 18, 2014, 5:30 PM
Dec. 16, 2013, 9:44 AM
Dec. 10, 2013, 1:09 PM
- Shares of Lumber Liquidators (LL -12.9%) are on a downward tear after a light guidance update, which investors may perceive as giving credence to short allegations that have been aimed at the company regarding the sourcing of its products and the effect on margins.
- Piper Jaffray analyst Peter Keith is out defending the retailer and reiterates an Overweight rating and PT of $135. He notes, "We are recommending investors buy shares of LL this morning on weakness caused by the company's updated guidance last night. We believe most investors are focused on the lower than anticipated GM for Q4, which can be explained primarily by a shift to solid hardwood sales which carry a lower GM but contribute to higher gross profit dollar growth given the products' high ticket nature."
- Keith adds that LL's initial 2014 outlook is above consensus on a sales basis, with the company "setting up for a beat and raise cadence."
Dec. 10, 2013, 12:45 PM
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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