Lumber Liquidators recently appearing under the name of LL Flooring, had already announced at the beginning of November its withdrawal from Canada as well as the closure of six unprofitable facilities in the USA. The company had previously been represented in Canada with eight branches. The network of branches has thus been reduced by 14 stores. The decision was taken during the course of the third quarter. Liquidation of the branches is scheduled for completion at the beginning of 2021.
LL Flooring increased its sales revenue by 12.1 % in the third quarter to US$295.8m. One new outlet was opened in the period under review, raising the number of branches operating at the end of the quarter to a total of 423. Adjusted for salesfloor area, the company achieved a 10.9 % improvement in sales revenue. The increase is attributed to better sales conditions. Sales revenue had fallen by 20.2 % in the second quarter due to the corona crisis and the ensuing temporary branch closures. Analysis of the growth achieved in the third quarter must take into account the fact that the previous year’s sales revenue had been impaired by an estimated US$6-8m due to a network failure caused by malware.
