Lumber Liquidators's net sales for the 2Q 2019 increased $5.1 million, or 1.8%, to $289 million as compared to the 2Q 2018 driven by new stores (stores open less than 13 months). Net sales in comparable stores were flat as compared to the 2Q 2018, as growth of installation services was offset by a slight decline in merchandise sales.
Gross profit increased 1.2% in the 2Q 2019 to $102 million as compared to $101 million in the comparable period in 2018. Gross margin decreased to 35.5% in the 2Q 2019 from 35.7% in the 2Q 2018. Gross margin in the 2Q 2019 was favorably impacted by tariff classification adjustments while antidumping rate changes favorably impacted the 2Q 2018.
Operating loss was $1.4 million and $0.9 million for the three months ended June 30, 2019 and 2018, respectively.
Net loss for the three months ended June 30, 2019 was $2.9 million, or $0.10 per diluted share, compared to a net loss of $1.5 million, or $0.05 per diluted share, for the three months ended June 30, 2018.
Lumber Liquidators is one of North America's leading specialty retailers of hard-surface flooring.
