TOANO, Virginia - Lumber Liquidators reported second quarter net sales were $283.5 million, an increase of 7.6 percent over last year and putting the firm on track for sales of more than $1 billion.
A standout was installation sales, which rose 51 percent. But Lumber Liquidators posted a net loss of $1.4 million, largely on a move to more engineered wood and vinyl floor, which raised costs and cut into margins. Stock analysts help drive a resulting sell-off in shares, which knocked down shares 21 percent.
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