Content about Lumber Liquidators

October 3, 2014

Just a couple of days after elevating Ray Cotton to SVP, chief compliance and sustainability officer, Lumber Liquidators has launched a new section of its website dedicated to sustainability.

Just a couple of days after elevating Ray Cotton to SVP, chief compliance and sustainability officer, Lumber Liquidators has launched a new section of its website dedicated to sustainability.

The original content is rooted in the company's "Lay It Forward" business strategy, which according to the company, centers on the long-term benefits of quality hardwood flooring, protecting the environment and supporting the communities it serves.

October 1, 2014

Lumber Liquidators has promoted Ray Cotton to SVP, chief compliance and sustainability officer. Cotton will continue to report directly to president and CEO Robert Lynch.

Lumber Liquidators has promoted Ray Cotton to SVP, chief compliance and sustainability officer. Cotton will continue to report directly to president and CEO Robert Lynch.  

July 30, 2014

After a delay of several days, Lumber Liquidators has reported second-quarter results, nearly three weeks after the company revised its full-year guidance, which caused its stock to plummet in recent days.

After a delay of several days, Lumber Liquidators has reported second-quarter results, nearly three weeks after the company revised its full-year guidance, which caused its stock to plummet in recent days.

Net sales for the quarter increased by 2.3%, totaling $263.1 million, compared with $257.1 million in the same quarter last year. But comparable-store sales decreased by 7.1%, with the average sale declining 1.8%. Net income was $16.6 million for the three months ended June 30, down 18.7% from last year's $20.4 million.

July 10, 2014

Lumber Liquidators doesn’t report its second-quarter results until July 31. But reduced customer traffic along with weak macroeconomic trends related to residential remodeling and a drop in home sales have prompted the company to revisit its outlook for the quarter and full year.

Lumber Liquidators doesn’t report its second-quarter results until July 31. But reduced customer traffic along with weak macroeconomic trends related to residential remodeling and a drop in home sales have prompted the company to revisit its outlook for the quarter and full year.

The company’s net sales for the quarter increased 2.3% to $263.1 million, from $257.1 million in the prior-year quarter. At comparable stores, however, net sales decreased 7.1% for the quarter, in comparison to an increase of 14.9% for the second quarter of the prior year.  

June 3, 2014

Lumber Liquidators has formalized its compliance and sustainability team headed by Raymond Cotton, who was appointed as chief compliance and sustainability officer in February and reports directly to president and CEO Robert M. Lynch.

Lumber Liquidators has formalized its compliance and sustainability team headed by Raymond Cotton, who was appointed as chief compliance and sustainability officer in February and reports directly to president and CEO Robert M. Lynch.

Cotton manages the company’s quality assurance, sustainable sourcing, loss prevention, risk management and compliance with legal and regulatory requirements of global trade.  

February 19, 2014

A highly fragmented market and inconsistent customer demand — thanks, in large part, to inclement weather — were not enough to dampen Lumber Liquidators’ results in the fourth quarter.

A highly fragmented market and inconsistent customer demand — thanks, in large part, to inclement weather — were not enough to dampen Lumber Liquidators’ results in the fourth quarter.

The company achieved record highs for net sales and operating margin and continues to gain further traction in its key, multi-year strategic initiatives.

For the quarter, net income increased 50.6% to $20.8 million, from $13.8 million in the fourth quarter of the prior year.

January 6, 2014

New York City-based home furnishings retailer Gracious Home has named Rob Morrison as its new chief operating officer. The former Lumber Liquidators executive begins his new role Jan. 6.

New York City-based home furnishings retailer Gracious Home has named Rob Morrison as its new chief operating officer. The former Lumber Liquidators executive begins his new role Jan. 6.

At Lumber Liquidators, Morrison was senior VP of stores and operations, a position he held since January 2006. He was also president of Artistic Tile from 2004 to 2005.

December 10, 2013

Lumber Liquidators has raised its full year 2013 outlook based on year-to-date results and current trends.

Lumber Liquidators has raised its full year 2013 outlook based on year-to-date results and current trends.

The company now expects net sales in the range of $994 million to $1 billion, up from a previous range of $985 million to $995 million, with the fourth quarter ranging from $252 million to $258 million.

Lumber Liquidators also expects to open a total of 29-30 new stores during 2013 and increase net store sales 15% to 16%, up from a previous range of 14% to 15%, with the fourth quarter ranging from 13% to 15%.

October 23, 2013

Lumber Liquidators increased its net income in the third quarter of fiscal 2013 58.4% to $20.4 million, from $12.9 million in the year-ago period.

Lumber Liquidators increased its net income in the third quarter of fiscal 2013 58.4% to $20.4 million, from $12.9 million in the year-ago period.

Net sales grew 24.5% to $254.3 million, from $204.3 million in the same period a year earlier. Same-store sales grew 17.4%, driven by a 9.8% increase in the number of customers invoiced and a 6.9% increase in the average sale.  

October 11, 2013

Lumber Liquidators spokesman Clint Roberts responded to sister publication HCN's requests for comment regarding the ongoing federal investigation into its sourcing practices. Multiple reports have suggested that the investigation is linked to the Environmental Investigation Agency, which claims the retailer is purchasing wood illegally in protected forests in Far East Russia.

Lumber Liquidators spokesman Clint Roberts responded to sister publication HCN's requests for comment regarding the ongoing federal investigation into its sourcing practices. Multiple reports have suggested that the investigation is linked to the Environmental Investigation Agency, which claims the retailer is purchasing wood illegally in protected forests in Far East Russia.

September 27, 2013

Fast-growing flooring retailer Lumber Liquidators got an unpleasant surprise on Thursday when representatives from several federal agencies showed up at the company’s Toano, Va., headquarter with search warrants in hand.

Fast-growing flooring retailer Lumber Liquidators got an unpleasant surprise on Thursday when representatives from several federal agencies showed up at the company’s Toano, Va., headquarter with search warrants in hand.

July 24, 2013

Flooring specialist Lumber Liquidators reported a 14.9% second quarter same store sales increase and became the latest company to benefit from a resurgent housing and home improvement market.

Flooring specialist Lumber Liquidators reported a 14.9% second quarter same store sales increase and became the latest company to benefit from a resurgent housing and home improvement market.

Lumber Liquidators, operator of 300 stores, said total sales increased 22.2% to $257.1 million from $210.3 million during the second quarter ended June 30. Gross margins expanded to 41.3% from 37.3%, reflective of a reduced sourcing costs, higher prices and improved operational efficiencies, which translated to significant profit growth. Net income surged 67.7% to $20.4 million.

June 27, 2013

Lumber Liquidators marked a major milestone this week in Las Vegas with the opening of its 300th store, which showcases the company’s new “store of the future” format.

TOANO, Va. — Lumber Liquidators marked a major milestone this week in Las Vegas with the opening of its 300th store, which showcases the company’s new “store of the future” format. 

In honor of the opening, the company is holding an unprecedented end-of-quarter clearance event at all 300 locations until June 30. This is the first time Lumber Liquidators has held a sale on all of its products at the same time.