Lumber Liquidators’ 4Q 2018 net sales increased $9.1 million, or 3.5%, to $268.9 million from $259.9 million in the 4Q 2017, as the company said in the press release received by Lesprom Network.
Gross profit increased $3.9 million, or 4.2%, in the 4Q 2018 to $96 million from $92.1 million in the comparable period in 2017. Gross margin increased to 35.7% in the 4Q 2018 from 35.4% in the 4Q 2017.
FY 2018 net sales increased $55.7 million, or 5.4%, to $1,085 million from $1,029 million in 2017, which includes a comparable store net sales increase of $26.6 million, or 2.6% and a non-comparable store net sales increase of $29.1 million.
Gross margin in 2018 increased to 36.2% from 35.9% in 2017, and when excluding items in the attached supporting schedule, Adjusted Gross Margin (a non-GAAP measure) increased to 35.6% in 2018 from 35.5% in 2017, a 10 basis point improvement despite an approximately 40 basis point negative impact from tariffs that began in 4Q 2018.
Net loss was $54.4 million, or $1.90 per diluted share, in 2018 compared to a net loss of $37.8 million, or $1.33 per diluted share, in 2017, with both periods being adversely affected by legal and other matters.
Lumber Liquidators is one of North America's leading specialty retailers of hard-surface flooring.