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May 5, 2021, 6:14 a.m. EDT

Lumber Liquidators stock set to selloff after profit beat expectations but sales came up short

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By Tomi Kilgore

Shares of Lumber Liquidators Holdings Inc. /zigman2/quotes/202539569/composite LL -6.49% were indicated down about 5% in premarket trading Wednesday, after the wood flooring retailer reported first-quarter profit that beat expectations but sales that came up short, as results continued to be impacted by tariffs on certain products imported from China. Net income fell to $10.6 million, or 36 cents a share, from $12.2 million, or 42 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 34 cents, above the FactSet consensus of 23 cents. Net sales rose 6.0% to $283.5 million, below the FactSet consensus of $293.1 million, as same-store sales grew 6.9% to miss expectations of a 10.4% rise. The company said same-store sales were driven by strong demand for installation and home improvement projects and shutdowns related to the COVID-19 pandemic a year ago. Cost of sales rsoe 3.4% to $167.9 million. The company did not provide financial guidance, citing uncertainties surrounding the impact of the COVID-19 pandemic as it relates to consumer spending and supply chain disruptions. The stock has dropped 19.5% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.32% has climbed 10.9%.

$ 15.86
-1.10 -6.49%
Volume: 522,768
Nov. 29, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$493.34 million
Rev. per Employee
+60.65 +1.32%
Volume: 2.50B
Nov. 29, 2021 4:57p

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