Lumber Liquidators March Comp Sales Drop 17.8%

Lumber Liquidators Holdings Inc posted a drop in sales of its hardwood flooring products in March after a media report alleged that the company's laminates had higher-than-permitted levels of a cancer-causing substance.

The company said sales at stores open at least one year fell 17.8 percent last month, dragging down sales at these stores 1.8 percent in the first quarter ended March 31.

Lumber Liquidators is facing U.S. government probes over the levels of formaldehyde in its flooring products, and has offered free indoor air quality testing for qualifying consumers. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Savio D'Souza)