Lumber Liquidators adjusts forecast for 2019 downwards

30.08.2019 − 

US flooring and timber trading company Lumber Liquidators has adjusted its forecast for the entire period of 2019 downwards. The reasons for this are weak business development once again in the second quarter, and the ongoing uncertainties with regard to the US trading and customs policy. Whilst expected turnover growth had previously been in the mid single-digit percentage range, the company meanwhile anticipates growth in the lower single-digit percentage range. On a like-for-like basis, it is anticipated that – at best – the level of the previous year will be achieved. The company is still planning to open 10-15 new stores this year. The target range for the margin calculated on the basis of adjusted operating profit has been lowered from 1.9%-2.4% to 1.4%-1.9%.

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