Lumber Liquidators, Inc. announced a planned transition in executive leadership with Jeffrey W. Griffiths retiring from his position as Chief Executive Officer of the Company effective January 1, 2012. In accordance with the Company`s Corporate Governance Guidelines, Mr. Griffiths will retire from the Board of Directors of the Company at the same time. Robert M. Lynch, the Company`s current President and Chief Operating Officer, will assume the role of President and Chief Executive Officer concurrent with Mr. Griffiths` retirement. Mr. Griffiths will continue as an employee of the Company through March 18, 2012 to ensure a smooth transition between
Jeffrey W. Griffiths
Hardwood flooring retailer Lumber Liquidators said Wednesday strong consumer demand drove an increase in revenue, helping its net income climb about 32% in the second quarter.For the three months ending June 30, the company said it earned $9.1 million, compared with $6.9 million a year ago. Net sales increased about 18% to $168.7 million, up from $143.1 million a year ago. Same-store sales rose 5.5.Our unique value proposition of price, selection, quality and availability continued to resonate well with customers and increase traffic," CEO Jeffrey W. Griffiths said in a statement.