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TheStreet Open House

Lumber Liquidators' CEO Presents At Goldman Sachs 2012 Global Retailing Conference (Transcript)

Lumber Liquidators, Inc. (LL)

Goldman Sachs 2012 Global Retailing Conference Call

September 6, 2012 10:45 a.m. ET

Executives

Robert Lynch - President and Chief Executive Officer

Daniel Terrell - Chief Financial Officer

Analysts

Matt Fassler - Goldman Sachs

Presentation

Matt Fassler - Goldman Sachs

Good morning, everyone. I am Matt Fassler from Goldman Sachs and I have the pleasure this morning of introducing the senior management team of Lumber Liquidators and also moderating our conversation today. As I introduce Rob, I am thinking about the past year for this company. I am not sure if this should be an introduction or a coronation. Obviously, this has been a terrific year for this company. Lumber Liquidators has from its outset as a public company and were privileged to be involved in the IPO five years ago. Been one of the more interesting growth stories in retailing. It was the only company really in my career, one of the few with the audacity to become public in home improvement sector. Competing against Home Depot and Lowe’s in a fairly established oligopoly. It did so in 2007 as we are about to make our way into housing collapse if you will, and we didn’t know that at that time other than certainly as what transpired. And the stock from that moment has been, I think roughly tripled, or a little bit better than that which I think speaks to the power of the operating model and I think more recently the way this business has been run, and the way the opportunity has been monetized.

Rob, since you joined the company, we will speak quite a bit about this. I think he has made substantial changes in management structure and management personal, in sourcing. Starting to make some changes on the revenue generation side too. And the potential has always been there for many years, it worked quite well. There was a bit of a break in the action as you know but the recovery has been very very powerful. And this has been a terrific stock as you know over the period of time.

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