Lumber Liquidators (Toano, Va.) reported a loss of $18.9 million in the third quarter of 2017, 2.7 percent higher than the company’s loss of $18.4 million in the third quarter of 2016.
The company’s financials were negatively impacted by the execution of a memorandum of understanding in connection with settlements for two multi-district lawsuits related to the company’s Chinese-made laminate flooring.
Sales for the quarter were $257.2 million, a 5.3 percent increase compared with sales of $244.1 million in the third quarter of 2016. Sales in comparable stores increased 3.8 percent year-over-year to $9.3 million.
The company’s sales grew in the quarter despite the “unusually severe hurricane season,” CEO Dennis Knowles said in a statement.
“We remain confident in the long-term strength of our unique business model, our value proposition, and the investments we have made in the capabilities of our people,” he said.
