Toano, Va. Hardwood flooring retailer Lumber Liquidators said its profit rose in the fourth quarter as it continued opening new stores.
For the three months ending Dec. 31, the company earned $7.1 million compared with $6.5 million in the year-ago quarter.
Net sales in the quarter were $137.1 million, up 18% from $116.5 million in the year-ago period.
However, same-store sales fell 4.6%.
Net income for 2009 was $26.9 million, compared with $22.1 million in 2008. Revenue grew to $544.6 million from $482.2 million.
The company opened 36 new locations throughout the year, bringing its total store count to 186 in 45 states. It plans to open 36 to 40 new stores this year.