LL Flooring Hldgs Inc (LL)

Description:

Lumber Liquidators Holdings Inc. was founded in 1994. In August 2007, it reincorporated from Massachusetts to Delaware, and in November 2007, it completed its initial public offering. The Company is a specialty retailer of hardwood flooring in the United States, based on industry sources and its experience. It offers a complete assortment of hardwood flooring that includes prefinished premium domestic and exotic hardwoods, engineered hardwoods, unfinished hardwoods, bamboo, cork and laminates, flooring that includes. Its product offering is substantially comprised of its proprietary brands, led by its flagship Bellawood brand. Its hardwood flooring products are generally available in various widths and lengths. They are generally differentiated in terms of quality and price based on the species, grade of the hardwood and quality of finishing, in addition to the length of the warranty. The Company also offers a broad assortment of flooring enhancements and installation accessories, including moldings, noise-reducing underlay and adhesives, that complement its assortment of floor offerings. In total, it offers nearly 350 different flooring product stock-keeping units. Prefinished floors are finished in a factory under controlled conditions and are ready to be enjoyed immediately after they are installed. The Company's proprietary solid hardwood products are milled from one thick piece of wood, which could be sanded and refinished numerous times. It offers flooring products made from more than 25 wood species, including both domestic woods, such as ash, beech, birch, hickory, northern hard maple, northern red oak, pine and American walnut, and exotic woods, such as bloodwood, cherry, cypress, ebony, koa, mesquite, mahogany, rosewood and teak. The Company's proprietary engineered hardwood products are produced by bonding a layer of hardwood to a plywood or high-density fiber board backing. Like its solid hardwood floors, its engineered hardwood floors are offered in domestic and exotic wood species, and in either glue down or floating application. It offers a variety of wood flooring moldings and accessories. Moldings are a required finishing detail to every floor and it sells a complete selection that matches virtually all of its floors or can complement them. It also sells stair treads and risers in both finished and unfinished versions. The Company's proprietary bamboo products, harvested from the fast growing bamboo plant, are offered as a prefinished or stained solid wood or engineered floor. The Company's stores are designed to emphasize its products in a visually appealing showroom format, yet reflect its low-cost approach to doing business. The Company's marketing strategy emphasizes product credibility, value, brand awareness, customer education and direct selling. It has a number of marks registered in the United States, including Lumber Liquidators(r), Bellawood(r), 1-800-FLOORING(r), Dura-Wood(r), Blutec(r), Quickclic(r), Virginia Mill Works Co. Hand Scraped and Distressed Floors(r), Morning Star Bamboo Flooring(r), Dream Home Laminate Floors(r), Builder's Pride(r), Schon Engineered Floors(r), Casa de Colour Collection(r) and other product line names. It competes in a hardwood flooring market that is highly fragmented. The Company is subject to extensive and varied federal, state and local government regulation, including regulations relating to employment, public health and safety, zoning and fire codes.