Lumber Liquidators boosts sales, profit
- February 19, 2010
Lumber Liquidators reported a 17.6 percent increase in sales during its fourth quarter as it saw increased foot traffic in its stores and the addition of nine new stores.
The hardwood flooring company reported sales of $137.1 million for the quarter, compared with $116.5 million during the same quarter 2008.
Profit for the quarter increased 9.7 percent to $7.1 million.
“Overall, we built positive momentum throughout the year, continued to gain share in our highly-fragmented market and ended the year well positioned to generate sustainable growth,” CEO Jeffrey W. Griffiths said in a statement.
For the year, sales increased 12.9 percent to $544.6 million. The company opened 36 new locations in 2009. Net income grew to $26.9 million, compared with $22.1 million in 2008.