Lumber Liquidators reported net sales increased $50 million, or 24.5 percent, to $254.3 million in the third quarter of 2013 from $204.3 million in the third quarter of 2012.
Comparable-store net sales increased 17.4 percent for the quarter, driven by a 9.8 percent increase in the number of customers invoiced and a 6.9 percent increase in the average sale.
Gross margin was 41.8 percent in the third quarter of 2013 compared to 38.1 percent in the third quarter of 2012, reflective of generally lower costs, increased attachment of moldings and accessories and operational efficiencies across the company.
“We experienced consistently strong demand across the third quarter as our superior value proposition continues to resonate with a growing customer base,” Lumber Liquidators President and CEO Robert M. Lynch said. “We continue to gain share in a highly-fragmented market through our outstanding team of hardwood flooring experts, delivery of a wide assortment of high-quality products and by maintaining our position as the low-price leader.”
Net sales increased 23.1 percent to $741.8 million in the first nine months of 2013 from $602.7 million in the first nine months of 2012. Comparable store net sales increased 15.8 percent for the first nine months of 2013, compared to 10.7 percent for the first nine months of the prior year.
As of Sept. 30 Lumber Liquidators operated 307 stores in 46 states and Canada.