Lumber Liquidators announced financial results for the 3Q ended September 30, 2017. Net sales for the 3Q 2017 increased $13.1 million to $257.2 million from $244.1 million in the 3Q 2016.

Flooring

Lumber Liquidators increased 3Q net sales to $257.2 million

Lumber Liquidators announced financial results for the 3Q ended September 30, 2017. Net sales for the 3Q 2017 increased $13.1 million to $257.2 million from $244.1 million in the 3Q 2016, as the company said in the press release received by Lesprom Network.

Gross profit increased 20.9% in the 3Q 2017 to $92.7 million from $76.7 million in the comparable period in 2016. Gross margin increased to 36% in the 3Q 2017 from 31.4% in the 3Q 2016.

Net loss for the three months ended September 30, 2017 was $18.9 million, resulting in a loss of $0.66 per diluted share, compared to a net loss of $18.4 million, resulting in a loss of $0.68 per diluted share, for the three months ended September 30, 2016.

Operating loss for the three months ended September 30, 2017 was $17.3 million compared to an operating loss of $24 million in the comparable period in 2016.

Dennis Knowles, CEO, commented, "We saw continued growth in sales and positive comp store growth for the fifth consecutive quarter. That is despite the unusually severe hurricane season that we believe had a slight negative impact on net sales in some of our stores. A lot of credit should be given to our associates directly impacted by these storms. Their resiliency and commitment were inspiring, and our customers appreciated their responsiveness. We saw gross margin expansion as well as improvement in operating results on an adjusted basis. We remain confident in the long-term strength of our unique business model, our value proposition, and the investments we have made in the capabilities of our people."

Lumber Liquidators is North America's largest specialty retailer of hardwood flooring.