Lumber Liquidators Swings To 3Q Loss, Names New CEO

By Sara SjolinMarketWatch Pulse

Hardwood flooring company Lumber Liquidators Holdings Inc. on Wednesday named John Presley as new chief executive officer, after swinging to a loss in the third quarter. The company reported a loss of $8.5 million, or 31 cents per share, in the third quarter, down from a profit of $15.7 million, or 58 cents per share, in the year-ago period. Sales slipped 11% to $236.1 million from $266.1 million last year. Analysts surveyed by FactSet forecast a loss of 18 cents a share on revenue of $257.8 million. The company said it wasn't able to provide an outlook for the fourth quarter at this point. Shares slumped 6.8% premarket after the report.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below