Lumber Liquidators Announces First Quarter 2016 Financial Results
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Lumber Liquidators (LL) Grinds Higher After Opening Sharply Lower
May 10, 2016 12:20 PM EDTLumber Liquidators (NYSE: LL) is grinding higher from morning lows. Shares are down 5.3% after opening down 17.5% following earnings and a disclosure of additional SEC subpoenas. Short covering is likely a big contributor to today's move.
Lumber Liquidators (LL) Discloses Additional SEC Subpoena in 10-Q
May 10, 2016 6:21 AM EDTLumber Liquidators (NYSE: LL) disclosed the following on Tuesday in its 10-Q filing:
Securities Laws
In March 2015, the Company received a... More
Lumber Liquidators (LL) Posts Q1 Loss of $1.20/Share; Discloses Additional SEC Subpoena
May 10, 2016 6:16 AM EDTLumber Liquidators (NYSE: LL) reported Q1 EPS of ($1.20), $0.96 worse than the analyst estimate of ($0.24). Revenue for the quarter came in at $233.5 million versus the consensus estimate of $237.44 million.
The Company believes net sales were impacted by changes in our promotional strategy and continued negative consumer sentiment regarding us, which was in part a result of heightened negative media coverage during the first quarter associated with certain Chinese laminate product that the Company discontinued in May of last year. Non-comparable store net sales increased $9.5 million over the comparable prior year period. The Company... More
