Lumber Liquidators' net sales in the 1Q 2016 were$233.5 million, a decrease of 10.2% from the 1Q 2015, including a comparable store net sales decline of 13.9% due to a 13.8% decrease in the number of customers invoiced and a 0.1% decrease in the average sale, as the company said in the press release received by Lesprom Network.
Gross margin was 32.6% in the 1Q 2016, compared with 35.2% in the prior year period. This decrease is primarily attributable to a lower average selling price versus the prior year period.
Net loss was$32.4 million, or a loss of$1.20per diluted share, in the 1Q 2016 as compared to a net loss of$7.8 million, or$0.29per diluted share, in the 1Q 2015.
John Presley, CEO, commented, "During the 1Q 2016, we continued to take steps in the right direction for Lumber Liquidators. Our sales results fell short of our expectations, but we continue to see improvement in our gross margin from the lows of 2015 driven by our strategic pricing initiatives. With the addition ofDennis Knowlesto our executive team, we have a dedicated professional leading the customer experience in our stores and are focused on driving top-line improvement.”
Lumber Liquidators isNorth America'slargest specialty retailer of hardwood flooring.
