Lumber Liquidators Swings To 3Q Loss, Names New CEO

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.