Why Lumber Liquidators Stock Fell Today
Shares of Lumber Liquidators (NYSE: LL), a specialty wood flooring purveyor, fell as much as 15% in the first hour or so of trading on May 5. The company, which has changed its public face to LL Flooring, reported earnings before the market opened. Investors weren't pleased at all, though the numbers weren't terrible. As of 11:43 a.m. EDT, the stock was down 14.4%.
Lumber Liquidators reported revenue of $283.5 million in the first quarter of 2021, up roughly 6% from the year-earlier period. Same-store sales grew 6.9%. Digging a bit deeper, merchandise sales rose 4.7%, with the service side of the business (delivery and installation) seeing a jump of 16.8%. Adjusted earnings came in at $0.34 per share.
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Source Fool.com
