|Bid||0.00 x 1300|
|Ask||0.00 x 800|
|Day's Range||8.80 - 9.34|
|52 Week Range||6.59 - 17.89|
|Beta (3Y Monthly)||2.13|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||9.38|
Lumber Liquidators Holdings, Inc. (NYSE:LL) shareholders should be happy to see the share price up 21% in the last...
Shares of Lumber Liquidators Holdings Inc. tumbled 12% in active afternoon trading, and have now plunged 24% in three sessions since closing at 4-month high on Tuesday. Trading volume was 6.4 million shares, compared with the full-day average of 2.2 million shares. The selloff in the wood-flooring company's stock comes after founder and former CEO Thomas Sullivan and F9 Investments LLC disclosed that it now owned 461,895 Lumber Liquidator shares, or 1.6% of the shares outstanding, indicating Sullivan and F9 sold off 1.75 million shares in the past week, representing 6.1% of the shares outstanding, after Sullivan and F9 disclosed it had accumulated a 2,212,367-share stake, or 7.7% of the shares outstanding, in the weeks leading up to Sept. 5. Sullivan, currently the CEO of Cabinets to Go, said the reason for acquiring the large stake was to "explore various options and propose a transaction," including a potential purchase of Lumber Liquidators. On Friday, Sullivan said he sold the bulk of his holdings because after the recent "significant" rally, the stock was "no longer undervalued," making a potential acquisition "less prudent at these elevated levels." Since Aug. 20, when Sullivan first disclosed it acquired a 6.0% stake, through Sept. 5, the stock had soared 55%. The stock is now up 4.5% year to date, while the S&P 500 has run up 20.0%.
(Bloomberg) -- Lumber Liquidators Holdings Inc.’s founder said he has decided not to pursue a buyout of his former company. The shares sank.Tom Sullivan had been working on a deal, including talking to banks and private-equity firms, but the stock price had gotten too high and the company had declined to engage in discussions, he said Friday in an interview. Sullivan has sold some of his shares, and will continue to monitor the situation, he said.“Unless there is major change in the board and management, I’m sure there will be another opportunity for us,” he said.Lumber Liquidators, which sells hardwood flooring and other home-renovation products, fell as much as 16% to $9.43 Friday, the biggest intraday decline in more than a month.Before Sullivan disclosed a large stake in the company on Aug. 20, Lumber Liquidators had declined 15% this year. The shares steadily gained to being up as much as 37% as recently as Tuesday, but have now pared much of that gain.Sullivan, who started the chain that now has about 400 locations, built a stake of 7.7% as he pursued a bid for the company that he said had been poorly managed. He had described the executive team and board as “pathetic,” criticizing their spending on a new headquarters, marketing strategy and bonus system for store employees.Currently, he holds about 1.6%, according to a filing dated Sept. 13. During the time span of about a month, Sullivan, bought stock for an average price of $7.88 a share, and then sold 1.25 million shares this week at an average of $11.68, according to the filing. That equates to a gain of about $4.8 million, according to Bloomberg calculations.Forecast CutThe company trimmed its full-year outlook when it reported earnings last month, noting softening customer traffic and an uncertain tariff environment. It now sees same-store sales -- a key gauge for retailers -- as flat for the year. Revenue is expected to grow in the low-single digits.Lumber Liquidators didn’t respond directly to Sullivan’s critiques, but said in a statement earlier this week that management and the board “are actively executing a transformational strategy to position the company for long-term value creation.”The company didn’t immediately respond to a request for comment on the latest development.(Updates with details on share sale in seventh paragraph.)To contact the reporter on this story: Matt Townsend in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Anne Riley Moffat at email@example.com, Lisa Wolfson, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Lumber Liquidators Holdings founder Tom Sullivan has boosted his stake in the flooring retailer that he wants to acquire.
(Bloomberg) -- Lumber Liquidators Holdings Inc. founder Tom Sullivan has boosted his stake in the flooring retailer that he wants to acquire.On Wednesday, Sullivan executed call options through his F9 Investments LLC fund at $10 a share, increasing his stake to 7.7% from about 6%. The stock rose as much as 11% to $11.18 on Thursday, bringing its two-day advance to almost 20%.Sullivan told Bloomberg this week that he’s in talks with private-equity firms and banks about taking the retailer private and merging it with his current company, Cabinets To Go. Since then, he’s received additional interest from potential partners, he said Thursday in an interview. Lumber Liquidators hasn’t responded to him yet, he added.Lumber Liquidators didn’t respond to a request for comment. The company hasn’t addressed a Bloomberg report on Tuesday that Sullivan is pursuing an acquisition.(Adds increased interest from potential partners in third paragraph.)To contact the reporter on this story: Matt Townsend in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Anne Riley Moffat at email@example.com, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Lumber Liquidators Holdings Inc.’s founder is working on a bid to take the company private as he urges management to consider options for the chain, including a potential sale.Thomas D. Sullivan -- who owns about 6% of the company’s shares through his F9 Investments LLC -- said he’s already in talks with private equity and banks about a possible bid for the retailer. If he were successful, he’d be interested in merging the chain with his current company Cabinets To Go, he said in an interview.Lumber Liquidators shares jumped as much as 17% after the close of regular trading before paring gains.Sullivan said the retailer and Chief Executive Officer Dennis Knowles have gotten away from the formula of low overhead and big marketing budgets that helped it become a nationwide chain. He took particular umbrage with the company building a new headquarters in Richmond, Virginia.Spending Money“They are spending money like crazy,” he said, calling the board and the management “pathetic.”Lumber Liquidators didn’t immediately respond to a request for comment.The company, which sells hardwood flooring and other home-renovation products, trimmed its full-year outlook when it reported earnings last month, noting softening customer traffic and an uncertain tariff environment. It now sees same-store sales -- a key gauge for retailers -- as flat for the year. Revenue is expected to grow in the low-single digits.Management said at the time that “we are actively executing a deep dive into our overall cost structure to identify near-term efficiency opportunities.”Sagging StockOver the years, Sullivan said he’s been approached by private equity about partnering to buy Lumber Liquidators, but opted against that until now when a sagging stock price and complaints from current employees motivated him. The company’s share price is down about 3% this year, even as the wider S&P 500 Index is up 16%.“I’ve always kind of thought about it, but when I saw the stock so low, I thought something has to happen here,” Sullivan said. A building contractor, he founded the chain in 1994 and was CEO until 2006. He remained on the board until 2016.If a deal doesn’t take place, Sullivan said he would push for changes, such as boosting advertising and cutting back on corporate expenses.(Adds additional details)To contact the reporter on this story: Matt Townsend in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Anne Riley Moffat at email@example.com, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Beginning today, Tuesday, August 27, 2019, with very few exceptions, stores regained the ability to transact using normal point of sales systems, and much of the customer-facing impact of the incident has been resolved. Restoration efforts continue, and the Company, is in the early stages of broader recovery efforts and forensic analysis that are expected to last several weeks. Although the investigation remains ongoing, to date, the Company has not discovered anything that leads it to believe any sensitive and confidential consumer or employee data was compromised. That data is further protected by the fact that the vast majority of customer and employee data, including customer credit card information, is secured and maintained on systems outside of the Company's network.
How far off is Lumber Liquidators Holdings, Inc. (NYSE:LL) from its intrinsic value? Using the most recent financial...
Lumber Liquidators Holdings Inc. said late Monday that Nancy A. Walsh has been named its chief financial officer, effective Sept. 9. Walsh replaces interim CFO Timothy Mulvaney, who will return to his role as chief accounting officer. Walsh most recently served as Pier 1 Imports Inc. CFO, and also held positions at other retailers. Lumber Liquidators announced the resignation of its previous CFO, Martin Agard, in March. The company was fined earlier that month by the Securities and Exchange Commission for lying to investors in connection with emissions issues with some of its flooring products.
TOANO, Va., Aug. 19, 2019 /PRNewswire/ -- Lumber Liquidators (LL), a leading specialty retailer of hard-surface flooring in North America, today announced the appointment of Nancy A. Walsh as the Company's Chief Financial Officer effective September 9, 2019. Ms. Walsh will replace Interim Chief Financial Officer Timothy Mulvaney who will return to his role as Chief Accounting Officer for the Company. Ms. Walsh brings over 30 years of public company finance and capital markets experience, a deep background in financial planning and operational management, and extensive knowledge of the retail industry. She most recently served as Executive Vice President and Chief Financial Officer of Pier 1 Imports, Inc. Prior to that, she served as Executive Vice President and Chief Financial Officer of The Bon-Ton Stores, Inc. and in various finance and leadership positions with Tapestry, Inc., formerly known as Coach, Inc.
CEO & President of Lumber Liquidators Holdings Inc (30-Year Financial, Insider Trades) Dennis R. Knowles (insider trades) bought 14,000 shares of LL on 08/08/2019 at an average price of $8.04 a share. Continue reading...
U.S. stocks stage a stunning turnabout on Wednesday, with all three key equity benchmarks recovering from losses of at least 1% which were partly driven by signs of slowing global economic growth as the U.S. - China trade war intensifies.
Since Former hedge fund manager Whitney Tilson made a bullish call on Lumber Liquidators Holdings Inc (NYSE: LL) on April 18, the stock is down 44.8%. Tilson recently doubled down on his bullish stance and said in his newsletter that Lumber Liquidators is reminiscent of the former home run investment SodaStream. Lumber Liquidators Oversold? In general, it's extremely difficult to time the exact bottom in a falling stock, Tilson said.