Lumber Liquidators has reported third-quarter net income of $5.5 million, up 47.6 percent from $3.7 million in the same period last year. Net sales were $123.1 million, up 20.6 percent from $102.1 million in the year-ago period.
Third-quarter comparable-store net sales for the Toano, Va.-based flooring specialty retailer increased 2.0 percent, compared to an 8.4 percent increase for the third quarter last year. The company opened eight new stores during the third quarter.
"We performed well despite the challenging economy and are encouraged by the strong results generated by both our new and mature stores,O said Jeffrey W. Griffiths, president and CEO. OIn line with the first half of the year, we continued to generate operating margin expansion through more disciplined store operations and effective inventory management, as well as an improved merchandise assortment."