Lumber Liquidators Earnings Miss Expectations, Sales Rise

By Carla MozeeMarketsMarketWatch Pulse

Lumber Liquidators on Tuesday posted quarterly earnings that fell short of expectations, but sales that were above Wall Street's forecast. The hardwood flooring retailer's first-quarter net loss was $26.4 million, or 93 cents a share, narrower than the loss of $32.4 million, or $1.20 a share, a year ago. A per-share loss of 21 cents was expected in a FactSet poll of analysts. Revenue rose to $248.4 million from $233.5 million in the year-earlier period. Sales were ahead of the $247.2 million estimate. First-quarter gross margin was 34.9%, up from 32.6% a year ago.

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