Lumber Liquidators Lowers Full-Year Projections; Shares Drop In Pre-Market
Lumber Liquidators Holdings Inc (NYSE: LL) lowered its full-year forecast and projected weaker-than-expected results for the second quarter.
The retailer now expects full-year earnings between $1 and $1.15 per share on sales of $670 million to $700 million, down from its earlier forecast of $1.13 to $1.28 per share on sales of $700 million to $730 million.
Lumber Liquidators projects Q2 earnings between $0.18 and $0.20 per share on sales of $175.5 million. However, analysts expected earnings of $0.31 per share on sales of $187 million.
Lumber Liquidators also projects an 8% drop in same-store sales, versus a 5.5% rise in the year-ago period.
Lumber Liquidators shares dipped 17.32% to $21.20 in pre-market trading.
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