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WHEN: TODAY, FRIDAY, MARCH 13TH
WHERE: CNBC'S "FAST MONEY HALFTIME REPORT"
Following are excerpts from the unofficial transcript of a FIRST ON CNBC interview with Lumber Liquidators Founder and Chairman Tom Sullivan today on CNBC's "Fast Money Halftime Report." Following are links to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000361595 and http://video.cnbc.com/gallery/?video=3000361471.
All references must be sourced to CNBC.
SULLIVAN ON CUSTOMER WANTS
WE WILL SELL WHAT CUSTOMERS WANT. WE'RE GOING TO SELL A SAFE PRODUCT, A GOOD PRODUCT, AND IF CUSTOMERS WANT IT WE WILL SELL IT. IT'S NOT – WE SELL A LOT OF AMERICAN AND EUROPEAN LAMINATES BUT THERE ARE CERTAIN TYPES THAT CHINA IS BETTER AT AND IF IT'S SAFE AND COMPLIANT WE WILL SELL IT.
SULLIVAN ON PRODUCT
FROM DAY ONE, WE HAVE ALWAYS TAKEN CARE OF OUR CUSTOMERS, GIVEN THEM A GOOD PRODUCT AT A GOOD PRICE. WE DON'T SKIMP ON THE PRODUCT. AND OUR LAMINATE IS SAFE. WE'RE DEFINITELY NOT GOING TO SAVE TWO OR THREE CENTS ON LAMINATE AND RUIN THE REPUTATION OF THE COMPANY.
SULLIVAN ON DISTORTED FACTS
THEY'VE DISTORTED THE FACTS. WE HAVE TESTED OUR FLOORING, OUR LAMINATE FLOORING, IS ONE ONLY BOUGHT FROM MILLS THAT ARE CERTIFIED BY CALIFORNIA. TWO, WE TEST IT AND WE'VE HAD HUNDREDS OF TESTS BY THIRD PARTIES THAT ARE COMPLIANT THAT ENSURE THAT IT'S COMPLIANT WITH CARB 2 AND I CAN JUST TELL YOU THAT IT IS CARB 2 AND "60 MINUTES" DID A GREAT JOB OF SCARING PEOPLE, MAKING UP THE STORY.
SULLIVAN ON FIXING THE BUSINESS
I'VE GOT CALLS FROM INDEPENDENT TEST LABS ALL OVER THE COUNTRY THAT PEOPLE HAVE CALLED THEM IN A PANIC, THESE ARE PEOPLE WE DIDN'T HIRE. JUST RANDOM PEOPLE THAT SENT IN AND SAID WE'VE TESTED A NUMBER OF FLOORS AND THEY ALL COME BACK PERFECT. THE CUSTOMERS ARE VERY HAPPY AND THEY DON'T KNOW WHAT "60 MINUTES" IS TALKING ABOUT. SO BOTTOM LINE WE GET THAT TAKEN CARE OF FIRST. WE SHOW OUR FLOORING IS SAFE, AND THEN WE WILL WORK ON THE BUSINESS AS WE HAVE FOR THE LAST 20 YEARS.
SULLIVAN ON REAL WORLD TEST
IT'S NOT A REAL WORLD TEST. IT IS ONE OF THE TESTS, BUT IT DOESN'T TAKE THE REAL WORLD – IT DOESN'T EVALUATE THAT AIR QUALITY IN THE HOUSE. AND THAT IS NOT WHAT CARB REQUIRES.
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