TOANO, Va. - Lumber Liquidators (NYSE: LL), the largest specialty retailer of hardwood flooring in North America, says it marked a major milestone is it opened its 400th store in Elk Grove, Californnia. A grand opening is planned for Saturday, June 9.
Lumber Liquidators' first store opened in West Roxbury, Massachusetts, in 1994. Now it has locations in 46 states and in Ontario, Canada, and employs more than 2,000 employees.
Separately, Lumber Liquidators named Charles Tyson as Chief Customer Experience Officer, reporting to Dennis Knowles, the President and Chief Executive Officer. "Charles' diverse mix of merchandising, marketing and supply chain experience as well as his omni-channel and retail business acumen are uniquely suited for Lumber Liquidators," said Knowles.
From 2008 to 2017, Tyson held various roles at Advance Auto Parts, Inc., the automotive aftermarket parts provider, including Executive Vice President, Merchandising, Marketing and Supply Chain from 2013 to 2017 and Senior Vice President, Merchandising, Replenishment and Marketing from 2011 to 2013. He holds a B.Sc. in Business Administration from the City of London Polytechnic (now London Guildhall University).
Lumber Liquidators reported a net loss of $2 million for the most recent quarter, a significant improvement of the $26 million loss reported a year prior. Sales rose 5.4 percent to $261.8 million, a 5.4 percent rise, as five new stores were opened during the first quarter of 2018. Lumber Liquidators is working its way through litigation on a number of fronts stemming from claims against it for mislabeling flooring as CARB compliant, abrasion problems, countervailing duties on Chinese panel products, and employment claims. [See "Litigation" in its latest SEC sales filing.]
Lumber Liquidators offers a selection of more than 400 floors in the latest styles and trends, including its cornerstone Bellawood hardwood brand — now with an expanded artisan line designed to capture timeworn charm and character. Other leading brands include CoreLuxe rigid vinyl plank and Avella wood-look porcelain tile, both offering waterproof protection, and the Dream Home Ultra X20 laminate is two times more water-resistant than standard laminate flooring. The company's Morning Star brand is the number-one selling brand of bamboo in the country. www.lumberliquidators.com
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