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Flooring retailer Lumber Liquidators announced stronger fourth-quarter earnings of $3.05 million, up 88 percent from $1.62 million in the same period last year. The company recorded sales of $105 million, up 23.8 percent from $84.84 million a year ago.
For the full year, the company had earnings of $11.33 million, down 12.2 percent from $12.9 million in the previous year. Sales were $405.3 million for the year, up 22 percent from $332.06 million last year.
Same-store sales increased 8.6 percent for the quarter and 12.2 percent for the year.
This is the first quarter of public financial results for the company since it held its initial public offering on Nov. 9.
“We generated robust sales growth from new and existing stores,” said Jeffrey Griffiths, president and CEO of Lumber Liquidators. “The investments we have made in our infrastructure to support our continuing growth are substantially complete, and we are already seeing the benefits.”
The company has 124 stores throughout the United States, selling a variety of hardwood flooring, including solid and engineered hardwood, bamboo, cork and laminate.