An Update From the Earnings Season - Report on Lumber Liquidators Holdings, Inc.

NEW YORK, September 11, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Lumber Liquidators Holdings, Inc. (NYSE: LL). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=LL

Highlights from our LL Report include:

• Q2 2015 Financial Results - In a press release dated August 5, 2015, hardwood flooring retailer, Lumber Liquidators Holdings, Inc. reported its Q2 2015 financial results. Net sales fell 5.8% Y-o-Y to $247.9 million for the quarter, missing Zacks consensus estimate of $256.9 million. Same - store sales plunged 10% which the company attributes to a 7.6% decline in the number of customers invoiced and a 2.4% decrease in average sales totals. As per the Company, its net sales were hit hard by unfavorable allegations surrounding the product quality of its laminates sourced from China as well as its decision to suspend sales of such products. Net loss stood at $20.3 million compared to net income of $16.6 million reported in Q2 2014. Lumber Liquidators reported a net loss of $0.75 per share, versus net income $0.60 per share in Q2 2014, and Zacks consensus estimate of earnings of $0.07 per share.

• Operational Performance - As per the release, its gross profit during Q2 fell 41.4% Y-o-Y to $62.3 million and gross margin declined to 25.1% from 40.4% in the corresponding year-ago period. As per the Company, gross margin was impacted by certain planned reductions in retail prices, further promotional pricing during the quarter to drive consumer traffic and changes in sales mix. The Company reported an operating loss of $28.3 million compared to operating income of $27.2 million in the prior-year quarter.

• Year-to-Date Results - During the first half of 2015, the Company reported net sales of $507.9 million as against $509.4 million in the same period prior year. Comparable store net sales decreased 6.0% for the first half of 2015. For the six months period, the Company reported net loss of $28.1 million or a loss of $1.04 per diluted share compared to net income of $30.3 million or $1.09 per diluted share, reported in H1 2014. During H1 2015, Lumber Liquidators opened 11 new stores and as of June 30, 2015, operated 363 stores in 46 states and Canada.

• Guidance for FY 2015 - In its outlook for the full fiscal year, Lumber Liquidators said that it expects to open 20-25 stores in the expanded showroom format and remodel 10-15 existing outlets in the expanded showroom format in 2015. The Company expects its Capital spending during FY 2015 to range between $20 million to $25 million.

To find out how this influences our rating on Lumber Liquidators Holdings, Inc., read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=LL

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