LL - Lumber Liquidators +9% after comparable sales shine margins top expectations

Lumber Liquidators (LL) reports comparable sales increased 10.9% in Q3 to best the consensus mark of +6.3%. The company points to continued execution against its transformation and healthy consumer demand for home improvement projects as driving sales during the quarter. CEO outlook: "Our sales trends strengthened as we saw sequential improvement in our Pro and Install customers from the second to Q3, driven by increased willingness from customers to allow contractors into their homes for home improvement and installation projects. Our focus on liquidity over the past several months has allowed us to build a strong liquidity position to navigate the current COVID-19 environment. We are purposefully executing our transformation plan and believe all of our actions are repositioning the company for long-term success. There remains a good deal of uncertainty in this operating environment, but we are confident in our strategy." Gross margin came in at 39.7% of sales

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Lumber Liquidators +9% after comparable sales shine, margins top expectations