Lumber Liquidators Holdings is a retailer of hardwood flooring. As of Dec 31 2012, Co. operated 279 stores throuhout the U.S. and nine retail stores in Canada. Co. provides a range of wood flooring, generally sourced directly from the mill, that includes prefinished domestic and exotic hardwoods, engineered hardwoods, unfinished hardwoods, bamboo, cork and laminates, as well as resilient flooring. Co.'s product are primarily sold under Co.'s private label brands, including the Bellawood brand floors. Co. also provides a range of flooring enhancements and installation accessories, including moldings, noise-reducing underlay and adhesives, that complement its assortment of floor offerings.
As the housing market showed tentative signs of a recovery in the summer of 2011, many investors assumed that buying shares of homebuilders would lead to considerable profits. These stocks have indeed rallied nicely in the past two years, but have been outpaced by a more stealthy housing play, Lumber Liquidators (NYSE: LL).
In the past 24 months, this stock has risen more than 500%. Trouble is, the stock is now disconnected from the fundamentals, and a sharp reversal may soon be at hand.
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