Lumber Liquidators posts mixed results

TOANO, Va. ― Lumber Liquidators saw its sales grow for the first time in six quarters, but nevertheless took a bigger than anticipated loss for the third quarter. The company, which had seen sales decline since reports it was selling Chinese laminate products high in carcinogenic formaldehyde, increased its same store sales by 1% against an anticipated drop. Meanwhile net sales were up 3.4% to $244.1 million, exceeding an estimate of $231.6 million. At the same time net losses also swelled to $18.44 million, from $8.5 million a year ago, impacted in part by the payment of a $4.3 million settlement in a securities class action suit.