Lumber Liquidators (LL) is standing by its products saying they are ‘safe.’ The hardwood flooring retailer hosted a call to calm customers and investors. The company defended claims from CBS’s ’60 Minutes’ (CBS) report alleging its flooring sourced from China had dangerous levels of a cancer-causing substance. Some highlights from the call include free indoor air quality tests for qualifying customers. Lumber liquidators said sales dropped about 7.5% in the nine days after the show aired compared to the same period in 2014. And its PR machine is revving up. The company is planning to boost spending in marketing and adjust its retail prices. CEO Rob Lynch also responded to what he’s calling an attack from people with their own financial agenda. The stock has recovered from being nearly sliced in half since the 60 minutes report, which was prompted by hedge fund manager Whitney Tilson. Tilson tells TheStreet, he has no intention of changing his short position.
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