Lumber Liquidators, Inc.

The company, a hardwood flooring retailer with 170 stores, continues to grow. Sales increased in the second quarter by 11.8% to $143.1 million from $128 million a year ago. Comparable store sales, however, fell 1.8% but this was an improvement over the 5.8% year over year decline in the first quarter of 2009.

Despite the recession, the Lumber Liquidators opened 8 new stores during the second quarter.

Net income rose 18.1% to $6.9 million, or 25 cents per share, from $5.9 million, or 22 cents, in the year ago quarter. The Zacks Consensus Estimate called for 23 cents.

Full Year Guidance Raised

The company is optimistic going into the second half of the year as it sees some stabilization in the marketplace. It raised full year earnings per share to the range of 85 to 91 cents from the prior range of 76 cents to 86 cents.

As a result of the earnings report, all 4 covering analysts raised full year estimates in the last week. The 2009 Zacks Consensus Estimate now expects earnings per share of 90 cents.

Lumber Liquidators is now a Zacks #2 Rank (buy) stock but was a Zacks #1 Rank (strong buy) when Bill last reviewed it on June 11.

Read the June 11 article.

Chart

The stock has been hot. Since the June 11 article, it has busted through its 52-week high. See the trading action below.

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