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The important spring remodeling season was good to Toano, Va.-based Lumber Liquidators.
The flooring retailer’s net sales increased 22.2% to $257.1 million in the second quarter, as comparable-store sales increased 14.9%.
Net income for the company increased to $20.4 million in the three months ended June 30, up from $12.2 million in the same quarter last year.
The 300-plus location retailer opened seven new stores in the quarter, and is experimenting with a new prototype design.
“Since the end of 2008, we have doubled our footprint and provided more than 1.9 million customers with their flooring solution,” said Robert Lynch, president and CEO. “We believe our new 'store of the future' format is resonating well with a broader base of customers, and we look forward to bringing our total store count in this new format to approximately 50 by year-end.”