Lumber Liquidators' second-quarter earnings drop 42 percent

Posted to: Business Retail and Consumer The Virginian-Pilot Lumber Liqudators Holdings Inc. announced Tuesday that second-quarter earnings fell almost 42 percent to $5.3 million, or 19 cents per share. That’s down from $9.1 million, or 32 cents per share, a year earlier. In the quarter ended June 30, sales for the hardwood-flooring retail chain, based in Toano, grew 4 percent to $175.5 million. However, in comparable stores, or those open at least 12 months, sales dropped 7.9 percent. Comparable sales provide the best measure of a retailer’s year-over-year performance. Lumber Liquidators blamed consumer price sensitivity and caution about big-ticket