Content about Lumber Liquidators

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.” 

Toano, Va.-based Lumber Liquidators reported third-quarter net income of $12.9 million, up 91.3% from $6.7 million in the third quarter of the prior year. 

Net sales for the third quarter ended Sept. 30 increased $32.3 million, or 18.8%, to $204.3 million in the third quarter of 2012 from $172.0 million in the third quarter of 2011. Comparable-store net sales increased 12.0% for the quarter; non-comparable store net sales increased $11.7 million. The company opened seven new stores during the third quarter.

A nationwide network of home improvement installers has been acquired by Roark Capital Group, a private equity firm that owns some of the best-known restaurant franchises in the nation. Roark’s plans for The Home Service Store (HSS), which already provides installation services for Lumber Liquidators, Costco and BJ’s Wholesale Club, are equally ambitious; the Atlanta-based investment firm has put Robert Sheft, who helped develop Home Depot’s first foray into installed sales, in charge of its expansion plans.

Orchard Supply Hardware has named retail veteran Mark Baker as its new president and CEO. Baker will replace Robert Lynch, who left last December to take a job as president and chief operating officer at Lumber Liquidators.