Lumber Liquidators: $5M Loss Marks Progress
On Tuesday, Lumber Liquidators reported net losses of $5.5 million for the fourth quarter (ending 12.31.16) – and its stock price shot up. The loss, while sizable, compares favorably to the $19.8 million shortfall the company produced in the last three months of 2015, and investors are betting that the worst of the Chinese-laminate safety scare is behind the flooring retailer.
Other encouraging signs: Q4 net sales were up 4.3% from the fourth quarter of 2015, and (as seen in the graph below) the decline in net sales lessened substantially in 2016, pointing to the possibility the company could be headed towards sales growth in 2017.
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