Lumber Liquidators Holdings Inc LL will hold a special business update on Thursday morning, at 10:00am EDT. The call is expected to address allegations made in a recent 60 Minutes interview. Below is a live blog of the events.
10:17:17am: We are not the only company using formaldehyde based adhesives. "This is not a new unknown chemical."
10:16:12am: Formaldehyde emissions are a small level of the numbers discussed on the broadcast.
10:14:56am: "I want to reassure all of you...that we are confident that all of our products are safe, and none pose significant health products."
10:12:12am: Laminate product returns rose after the 60 Minutes broadcast. Net sales over following 9 days after interview fell 7.5%. Open orders still 12.6% higher than last year.
10:11:05am: Our call volume is normalizing (rose after the 60 Minutes broadcast)
10:10:30am: The goal of our customer service center has been information..."on the quality and safety of our products in general...customers who need additional assurance then go through a process that we'll talk about in a minute."
10:10:11am: Our average transaction includes 500sq ft of flooring...average laminate transaction uses slightly less sq feet than others.
10:07:45am: On products: "This is a legacy purchase that will pass" to families. "That's what gets us to wake up in the morning."
10:05:55am: Investors can send questions via email after the conference call.
10:05:01am: "We now believe we have a good sense of where we are."
09:52:46am: Lumber Liquidators Shares Halted News Pending
09:50:16am: CNBC's Scott Wapner Tweets: "$LL long investor Bob Chapman tells me just now as he waits for company conference call to begin that he's buying MORE stock "as we speak"
09:13:27am: Hearing the Test Done by '60 Minutes' Related to Lumber Liquidator's Flooring Not the Same Test Required by Regulators in California, according to CNBC.
08:51:56pm: Lumber Liquidators stock is up 5.1 percent pre-market.
08:43:11am: Lumber Liquidators Offers Q1 Outlook, Adds It Is 'Unable' To Provide Full Year Guidance
07:06:47am: Lumber Liquidators Says Stands Behind Products; Know They Are Safe
07:06:47am: Lumber Liquidators Expects Q1 Comps Down 4.4% to up 0.5%, Says Cannot Give Full Year Forecast
07:06:05am: Lumber Liquidators Sees Q1 Sales $253.6M to $265.6M, $276M est
07:05:15am: Lumber Liquidators 8K Filed
Related Reading
- 8 Damning Quotes From The 60 Minutes Exposé On Lumber Liquidators
- 1 Little-Discussed Problem This Pro Is Watching At Lumber Liquidators
- This Hedge Fund Manager Spoke With Lumber Liquidators' Chairman -- Here's What He Thinks
Image credit: Dwight Burdette, Wikimedia
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