Lumber Liquidators Slumps on Prolonged Housing Weakness

Lumber Liquidators is the latest company to report softness in the housing sector over the beginning of the year. The retailer of hardwood flooring recorded earnings of 49 cents a share, 13 cents less than expected, and revenue 6% below analysts' estimates. The housing sector is showing similar weakness. Data shows property values posting their slowest gains since August and mortgage applications dropping 5.9% last week. Refinancing activity is currently at its lowest point since July 2009.