Lumber Liquidators cancels conference presentation, tells investors it will report back next Thursday (LL)
Lumber Liquidators will get back to you.
In an announcement on Wednesday morning, the company said that it would not participate in the Raymond James Annual Institutional Investors Conference being held today.
The company will, however, hold a conference call on March 12 to provide a business update to investors.
Lumber Liquidators has been under pressure since last week, when it first disclosed that it would be the subject of a "60 Minutes" report, which aired Sunday night and brought to light apparent health and safety violations and problems and some of the company's factories in China.
Following that report, the company issued a statement saying that "60 Minutes" used improper testing methods to reach its conclusions, while some in the analyst community said the report was even worse than they had feared.
Here's the release from the company:
Lumber Liquidators (NYSE: LL), the largest specialty retailer of hardwood flooring in North America, today announced that it plans to host a conference call and audio webcast on March 12, 2015, at 10:00 a.m. Eastern Time to provide a business update. The conference may be accessed by dialing (877) 407-9039 or (201) 689-8470. A replay will be available approximately two hours after the call ends through March 19, 2015 and may be accessed by dialing (877) 870-5176 or (858) 384-5517 and entering a pin number that will be provided when available. The live conference call and replay can also be accessed via audio webcast at the Investor Relations section of the Company's website, www.lumberliquidators.com.
The Company also announced that it will not participate in the Raymond James' Annual Institutional Investors Conference being held today.
Robert M. Lynch, President and Chief Executive Officer, commented, "We regret that we are not attending the conference today and apologize to our investors that planned to attend. We look forward to speaking with you next week regarding our business update."
In pre-market trade on Wednesday, shares of the company were up about 2%.
- MORGAN STANLEY: We don't know what Lumber Liquidators is worth anymore
- ANALYST: The '60 Minutes' report on Lumber Liquidators was way worse than expected
- '60 Minutes' airs troubling report detailing major problems at Lumber Liquidators factories in China