LL - Lumber Liquidators slumps after comparable sales fall short of expectations

Lumber Liquidators (LL) trades lower after a mixed bag of results with the company's Q1 earnings report.Comparable sales rose 6.9% during the quarter vs. 10.4% consensus. Gross margin was 38.5% of sales vs. 37.7% consensus. Operating margin arrived at 5.1% of sales vs. 3.3% consensus.Adjusted operating income was $14.4M vs. $9..6M a year ago.CEO update: "We are intently focused on executing our strategies to drive sales and profitability in 2021. With more than 400 varieties of hard-surface floors featuring a range of quality styles and on-trend designs, we offer our customers quality choices and provide high-touch service and advice to help them achieve their flooring project needs. We will continue to pursue gross margin rate mitigation strategies and disciplined expense management to optimize profitability, and our strong balance sheet and liquidity support the investment in our strategies to position LL Flooring as the customer's first choice in hard surface flooring over

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Lumber Liquidators slumps after comparable sales fall short of expectations