Q2 Miss Chops Another $5 Off Lumber Liquidators Share Price

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Lumber Liquidators

shares are trading sharply lower by $4.77 at $13.79 in Wednesday's session. The embattled hardwood, laminate and bamboo floor provider has accelerated the pace of its death march with a very disappointing Q2 report for EPS (9$0.75) vs. Est. $0.06) on lower revenue ($247.9M vs. Est. $257.6M). Also, comparable store sales decreased by 10 percent. After a sharply lower open ($14.56 vs. Tuesday's close of $18.36), the issue rallied over $2 before the rally came to an end at $16.89 and the decline continued. So far, it has reached $13.33 and it is having a hard time distancing itself from that depressed level. The current low coincides with its September 2011 low at $13.43. Lumber Liquidators has shed 80 percent of its value since February when it peaked at $69.99, just before the company was the subject of Sixty Minutes report that focused on the possibility of their Chinese-made laminate flooring may contain toxic formaldehyde that may exceed permissible standards. .