LL Flooring Sales Rose 11.1% in Q4 & 0.5% for the Year
Richmond, VA, March 3, 2021-LL Flooring, formerly Lumber Liquidators, reported Q4 2020 net sales increased 11.1% to $304.2 million, compared to Q4 2019’s $274 million. Comparable store sales for Q4 2020 increased 10.5%, primarily as a result of continued execution against the company's transformation plan and healthy consumer demand for home improvement projects. Net merchandise sales increased 11.2% while net services sales (install and freight) increased 10.2% over the prior year. Net income for Q4 2020 was $31 million, a 94% increase compared to net income of $16 million in Q4 2019.
The company closed 14 stores and opened one new store in Q4 2020 bringing total store count to 410 as of December 31, 2020.
For fiscal year 2020, net sales increased 0.5% to $1,098 million from $1,093 million in fiscal year 2019, which includes a $10.4 million increase in non-comparable store net sales partially offset by a decrease of $5.3 million, or 0.5%, in comparable store net sales. Net merchandise sales increased 2.0% while net services sales (install and freight) decreased 10.0% over the prior year. Net income for fiscal year 2020 was $61.4 million, a 633% increase compared to fiscal year 2019’s $9.7 million
Related Topics:Lumber Liquidators