Lumber Liquidators Has Increased Sales

Lumber Liquidators had net sales of 304.2 million in the fourth quarter of 2020, an increase of 11.1 per cent compared to net sales in the fourth quarter of 2019. Comparable store sales for the quarter increased 10.5 per cent year-over-year primarily as a result of continued execution against the company's transformation plan and healthy consumer demand for home improvement projects. Net merchandise sales increased 11.2 per cent while net services sales (install and freight) increased 10.2 per cent over the prior year. Gross profit increased 5.4 per cent to $117.9 million from $111.9 million in the comparable period in 2019 and gross margin decreased 210 basis points to 38.8 per cent from 40.9 per cent. Net income for the fourth quarter increased $14.7 million to $31.1 million compared to $16.4 million for the fourth quarter of 2019, while adjusted earnings were $31.4 million, a year-over-year increase of $15 million compared to adjusted earnings of $16.4 million in the year-ago period.