Net income for Lumber Liquidators (Toano, Va.) in the fourth quarter of 2013 increased 50.6 percent over the fourth quarter of 2012 to $20.8 million. Net sales were $258.4 million in the fourth quarter of 2013, up from $210.7 million in the fourth quarter of 2012.
Net income for Lumber Liquidators (Toano, Va.) in the fourth quarter of 2013 increased 50.6 percent over the fourth quarter of 2012 to $20.8 million. Net sales were $258.4 million in the fourth quarter of 2013, up from $210.7 million in the fourth quarter of 2012.
For all of 2013, the company reported the profits increased 64.6 percent to $77.4 million, up from $47.1 million in 2012. Net sales increased 23.0 percent to $1.0 billion in 2013, up from $813.3 million in 2012, as comparable store net sales increased 15.8 percent, or $128.2 million, and non-comparable store net sales increased $58.7 million. The company opened 11 stores in the fourth quarter of 2013, bringing the total to 318.
"Customer demand was inconsistent during the quarter, with certain regions of the country periodically impacted by difficult weather conditions," Robert M. Lynch, president and CEO of Lumber Liquidators, said in a statement issued today.
In 2014, the company expects:
- Net sales in the range of $1.15 billion to $1.20 billion.
- Comparable store net sales increasing in the high single to low-double digits.
- The opening of a total of 30 to 40 new store locations and remodeling of a total of 25 to 35 existing stores.
For a full report on Lumber Liquidators' 2013 financial performance and its 2014 outlook, click
here.