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LL Flooring (NYSE: LL), formerly Lumber Liquidators, will release its fourth quarter and full year 2020 financial results on March 2, 2021. A conference call will be held on the same day at 8:00 a.m. Eastern Time to discuss these results. Investors can join the call by dialing (877) 407-9039 or (201) 689-8470. A replay will be available until March 9, 2021. LL Flooring specializes in hard-surface flooring with over 400 store locations across North America. The company aims to provide quality customer experiences and a wide selection of flooring options.
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Lumber Liquidators (LL Flooring) reported a strong Q3 2020, with net sales reaching $296 million, a 12.1% increase year-over-year. Comparable store sales rose 10.9%, fueled by effective execution of the transformation strategy and increased consumer demand for home improvement. Gross profit increased to $117 million (up 22%) with a gross margin of 39.4%. Net income jumped to $15.5 million from $1 million in Q3 2019. Earnings per diluted share stood at $0.53, compared to $0.04 last year. Liquidity improved to approximately $230 million, while plans to close underperforming Canadian and US stores were announced, expecting closure costs of $4-$5 million.
Lumber Liquidators (NYSE: LL), a premier retailer of hard-surface flooring in North America, will release its third quarter 2020 results on November 2, 2020. The Company will host a conference call at 8:00 a.m. Eastern Time the same day, accessible at (877) 407-9039. A replay will be available until November 9, 2020. LL Flooring operates 422 stores and offers over 400 varieties of flooring, aiming for exceptional customer service and quality products.
Lumber Liquidators (NYSE: LL) appointed Alice G. Givens as Senior Vice President, Chief Legal Officer, and Corporate Secretary, effective September 21, 2020. Givens has over 20 years of legal experience, including significant roles in public companies like Ruth's Hospitality Group and J. Crew Group. Her extensive background in legal and compliance matters, along with retail business acumen, is expected to benefit Lumber Liquidators during critical business phases. CEO Charles Tyson expressed enthusiasm for her joining the leadership team.
Lumber Liquidators (NYSE: LL) announced the appointment of Joseph M. Nowicki to its Board of Directors, effective September 1, 2020. His term will expire at the 2022 Annual Meeting of Stockholders. Nowicki brings over 35 years of experience in finance and retail, including expertise in e-commerce, which is expected to benefit the company's strategic initiatives. Previously, he served as CFO at Beacon Roofing Supply, Inc., and held key financial roles at Spartan Motors, Inc. This leadership change may influence the company's direction in the competitive hard-surface flooring market.
Lumber Liquidators (NYSE: LL) reported its Q2 2020 financial results, revealing a net sales decrease of 20.2% to $230 million, largely due to COVID-19 impacts. Despite a 21.3% decline in comparable store sales, net income rose $5.5 million to $2.6 million, aided by strategic margin improvements. Adjusted Gross Margin increased to 38.3% from 35.2% year-on-year, driven by enhanced operational efficiencies. The company maintained liquidity of $186 million and ended temporary salary reductions for corporate staff as business improved.
Lumber Liquidators (NYSE: LL), a top retailer of hard-surface flooring in North America, will release its second quarter 2020 results on August 5, 2020. A conference call is scheduled for 8:00 a.m. Eastern Time that day, accessible via phone or audio webcast on their website. A replay will be available until August 12, 2020. As of March 31, 2020, the company operated 420 stores, offering over 400 flooring varieties and related products. For inquiries, contact Lumber Liquidators Investor Relations at ir@lumberliquidators.com.