Lumber Liquidators Holdings, Inc. (LL, Financial), the specialty retailer of hardwood flooring, rose 37.0% in the quarter and is up 101.9% year-to-date. The company reported continued stellar results: double digit comparable sales, greatly expanded margins, and earnings that nearly doubled. Management also highlighted success in rolling out its new store prototype and new initiatives to broaden its assortments and do more mainstream advertising. The stock did fall about 10% at the end of the quarter, when it was reported it is being investigated for improperly sourcing some product, which we do not believe is terribly material.
From Ron Baron’s Baron Funds third quarter 2013 report.
From Ron Baron’s Baron Funds third quarter 2013 report.
