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Fly News Breaks for April 6, 2015
LL
Apr 6, 2015 | 08:05 EDT
Janney Capital said Lumber Liquidators reported sales for March and Q1 showed there has clearly been improvement in recent weeks and that its sales trends appear to be normalizing. The firm noted that its checks suggest that the last week of March improved from the prior week. Janney added that discounting hurt the company's gross margins worse than it expected, but it believes management still made the right decision mid-term and long-term. The firm maintains its Buy rating and $47 fair value estimate on Lumber Liquidators shares.
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