LL's Net Sales Rose 4.3% in Q4, But Earnings for Q4 & FY Still Down

Toano, VA, February 21, 2017—Lumber Liquidators announced net sales in the fourth quarter of 2016 of $244.9 million, an increase of 4.3% from the fourth quarter of 2015’s $234.8.

This includes a comparable store net sales increase of 2.8%, which reflected a 3.0% increase in average sale slightly offset by a 0.2% decrease in customers invoiced.

Net loss for the fourth quarter of 2016 was $5.5 million, or a loss of $0.20 per diluted share, as compared to a net loss of $19.8 million, or $0.73 per diluted share, during the prior year period.

The company opened three new stores during the fourth quarter of 2016.

For fiscal year 2016, net sales decreased 1.9% to $960.6 million in 2016 from $978.8 million in 2015.

Comparable store net sales decreased $45.0 million, or 4.6%, and net sales in non-comparable stores added $26.8 million versus the prior year.

The company opened nine new stores in 2016, and as of December 31, 2016, operated 383 stores in the United States and Canada.

Net loss was $68.6 million, or $2.51 per diluted share in 2016 compared to a net loss of $56.4 million, or $2.08 per diluted share, in the prior year.