United States

Lumber Liquidators Holdings Inc (LL.N)

LL.N on New York Stock Exchange

25 Sep 2017
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Latest Key Developments (Source: Significant Developments)

Lumber Liquidators Holdings, units entered into a third amended and restated credit agreement
Friday, 19 Aug 2016 04:32pm EDT 

Lumber Liquidators Holdings Inc : On August 17, co, units entered into a third amended and restated credit agreement - SEC filing . Borrowers also have the option to increase revolving credit facility up to a maximum total amount of $200 million .Under the credit agreement, the agent and the lenders increased revolving credit facility from $100 million to $150 million.  Full Article

Lumber Liquidators to get $100,000 settlement for costs incurred in defending lawsuit
Tuesday, 16 Aug 2016 04:30pm EDT 

Lumber Liquidators Holdings Inc : Lumber Liquidators announces final resolution in Proposition 65 lawsuit . Company to also receive $100,000 settlement from plaintiffs for costs incurred in defending lawsuit .Agreement also requires plaintiffs to surrender their right to appeal or challenge judgment.  Full Article

Lumber Liquidators posts Q2 loss of $0.45/share
Wednesday, 27 Jul 2016 06:00am EDT 

Lumber Liquidators Holdings Inc: Lumber Liquidators announces second quarter 2016 financial results . Q2 loss per share $0.45 . Q2 sales $238.1 million versus I/B/E/S view $240.6 million . Q2 earnings per share view $-0.25 -- Thomson Reuters I/B/E/S . Qtrly non-comparable store net sales increased $8.1 million over comparable prior year period . Qtrly comparable store net sales decline of 7.2% . Gross margin was 29.7% in Q2 of 2016, compared with 25.1% in prior year period . Believes customers invoiced impacted by change in strategy from promotional period prior year to strategic pricing approach .Believes demand for certain product categories decreased as assortment of products did not match changes in customer trends.  Full Article

Lumber Liquidators entered into agreement with derivative defendants
Friday, 22 Jul 2016 05:03pm EDT 

Lumber Liquidators Holdings Inc : In addition, will issue 1 million shares of its stock to securities class action fund with a value of approximately $16.0 million . On July 18, 2016, company entered into a definitive settlement agreement with derivative defendants - SEC filing .Will give $26.0 million to settlement fund to be used to compensate those who bought co's shares during Feb 22, 2012 to feb 27, 2015.  Full Article

U.S. CPSC says Lumber Liquidators agreed not to resume sales of laminate wood flooring previously imported from China
Thursday, 16 Jun 2016 06:30pm EDT 

U.S. CPSC : Lumber liquidators agreed to not resume sales of laminate wood flooring previously imported from china . Lumber liquidators will continue its voluntary program to test for formaldehyde emissions in consumers’ homes . Any future sale, disposal or transfer of the inventory can only take place with cpsc’s approval .In homes where chinese-made laminate flooring is found to emit elevated levels of formaldehyde, lumber liquidators will provide any required remediation.  Full Article

Lumber Liquidators : Expect legal costs to remain "elevated in the forseeable future" - conf call
Tuesday, 10 May 2016 08:56am EDT 

Lumber Liquidators Holdings Inc : Expect legal costs to remain "elevated in the forseeable future" - conf call . Further company coverage [LL.N] ((Bengaluru Newsroom; +1 646 223 8780)).  Full Article

Lumber Liquidators suspends share buyback plan
Tuesday, 10 May 2016 06:59am EDT 

Lumber Liquidators Holdings : Believe legal, professional fees will remain above historic levels as we work through remaining matters-SEC filing . Insurance coverage for addressing some legal issues to be exhausted due to settlement under securities class action MOU terms-SEC filing .Says suspended share buyback plan until better able to evaluate long-term customer demand, assess operations and cash flow-SEC filing.  Full Article

Lumber Liquidators posts Q1 loss per share $1.20
Tuesday, 10 May 2016 06:26am EDT 

Lumber Liquidators Holdings Inc : Lumber Liquidators announces first quarter 2016 financial results . Q1 loss per share $1.20 . Q1 earnings per share view $-0.24 -- Thomson Reuters I/B/E/S . Sales results fell short of our expectations . "Continue to see improvement in our gross margin from lows of 2015 driven by our strategic pricing initiatives" . On april 27, entered mou with lead plaintiffs in consolidated securities class action matter .Through insurers, will contribute $26 million as well as 1 million shares of company's common stock to a settlement fund to resolve matter.  Full Article

Lumber Liquidators Holdings Inc settles with California clean air agency - Reuters News
Tuesday, 22 Mar 2016 12:58pm EDT 

Lumber Liquidators Holdings Inc:Lumber Liquidators Holdings Inc said it had reached a settlement with the California Air Resources Board, the state's clean air agency, to resolve an inquiry into the company's laminate flooring products sourced from China. - RTRS.The agency concluded its review with no formal finding of violation or admission of wrongdoing by Lumber Liquidators, the company said in a regulatory filing on Tuesday.Lumber Liquidators, said it agreed to pay $2.5 million to the agency to resolve the matter.CBS's "60 Minutes" program cited the agency's tests in a report last March that alleged the company was selling flooring with excessive levels of formaldehyde, a known carcinogen.Since the report, the company's stock and sales have been hammered and it has been the subject of several investigations and lawsuits.Lumber Liquidators stopped selling laminates sourced from China in May 2015. This is the company's second settlement with government agencies in the past few months.In October, Lumber Liquidators agreed to pay $10 million in an unrelated probe by the Department of Justice into the import of certain flooring products in 2013.However, the company's woes are far from over as a revised report by the Centers for Disease Control and Prevention (CDC) showed the company's China-sourced laminates were three times more likely to cause cancer than it had initially reported. The CDC's investigation is ongoing.  Full Article

Lumber Liquidators Holdings Inc - Harmful gas levels in Lumber Liquidators flooring - - ASSOPR
Wednesday, 10 Feb 2016 06:01pm EST 

Lumber Liquidators Holdings Inc:A national retailer sold Chinese-made flooring that emits hazardous levels of formaldehyde, a federal investigation found. - AP.The laminate flooring was sold by Lumber Liquidators until last May, when the company announced it was halting sales.A long-awaited federal safety review found the flooring gave off enough formaldehyde gas to irritate the eyes, nose and throat of many people.There also was enough gas from the product to trigger breathing problems in people with certain health conditions, like asthma.The formaldehyde also increased cancer risks by a small amount. U.S. officials released the analysis Wednesday.The Consumer Product Safety Commission, which oversaw the testing, is continuing its investigation and has not announced any penalties related to the findings.The company did not dispute the new report's findings."We support their recommendations and share their (the agency's) commitment to educating consumers," a company statement said. Based in Toano, Virginia, Lumber Liquidators sells flooring at 375 stores in North America.The results were provided to another federal agency — the Centers for Disease Control and Prevention. The CDC and a sister agency analyzed the results to calculate the health impact of the detected levels of formaldehyde.  Full Article


Lumber Liquidators' shares soar on first profit since 2015 scandal

Shares of Lumber Liquidators Holdings Inc soared as much as 31 percent on Tuesday after the U.S. hardwood flooring retailer posted its first quarterly profit since a 2015 product-related scandal dented sales.