Lumber Liquidators sees sales surge
Toano, Va.-based Lumber Liquidators reported a 20.8% sale surge in the fourth quarter to $210.7 million, up from $174.5 million in the same quarter last year.
“We delivered a record quarter, in total net sales, gross and operating margin, net income and free cash flow,” said Robert Lynch, president and CEO. “We were particularly pleased with the increases in both traffic and ticket as the broadening of our advertising and branding message resonated with a larger population of flooring customers.”
Comp-store sales increased 13.2% for the quarter, driven by a 9.1% increase in the number of customers invoiced and a 3.9% increase in the average sale.
Net income for the quarter increased 63.2% to $13.8 million, up from $8.5 million.
For the full year, sales increased 19.3% to $813.3 million on sales of $77.2 million. Comp-store sales for the year increased 11.4%.
As of Dec. 31, the company operated 288 stores, including four stores opened during the fourth quarter of 2012, for a total of 25 stores opened during the year.