Lumber Liquidators' (Toano, Va.) second quarter 2014 suffered a loss of profit of 18.7 percent from the second quarter 2013.
Lumber Liquidators' (Toano, Va.) second quarter 2014 suffered a loss of profit of 18.7 percent from the second quarter 2013.
Profit for the quarter dipped from $20.4 million in 2013 to $16.6 this year. In comparable stores, net sales decreased 7.1 percent in 2014; they decreased 2.4 percent in 2013.
The company's average sale declined 1.8 percent in the second quarter 2014, and there was a 5.3 percent decrease in the number of customers invoiced.
"Despite the challenges we faced in the second quarter and results that were not at the level we would have hoped, our value proposition is as strong and relevant as ever to our customers," said Robert Lynch, president and CEO of Lumber Liquidators, in a statement. "We remain focused on continuous improvement across our operations and implementing our multi-year strategic initiatives to position the company for long-term growth."