Lumber Liquidators cuts sales and margin guidance [MarketWatch]
LL Flooring Holdings, Inc. (LL)
Last ll flooring holdings, inc. earnings: 2/25 06:00 am
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Source: MarketWatch
Lumber Liquidators cuts sales and margin guidance Shares of Lumber Liquidators Holdings Inc. LL, +0.43% fell nearly 3% in premarket trading on Wednesday after the hardwood floor retailer reported soft demand in a "challenging quarter," and cut its full-year 2019 sales and operating margin guidance. Lumber Liquidators reported third-quarter adjusted earnings per share of 8 cents, versus 27 cents in the year-ago period. Net sales fell $6.5 million, or 2.4% to $264 million. Same-store sales fell 3.6% due to weak sales at the start of the quarter and a network security incident in late August, caused by malware that encrypted certain information technology systems and impacted the company's ability to electronically process transactions. The company cut its full-year revenue outlook to flat to slightly positive from a previous outlook of low-single-digits growth. Its same-store sales outlook went from roughly flat to down 2% to flat. Adjusted operating margin is now seen at 1% to 1.4%,
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