Lumber Liquidators income up 18.1% in Q1
Toana, Va. Lumber Liquidators reported its first-quarter net income increased 18.1% to $5.1 million.
It also announced that its net sales increased 8.1% to $9.3 million in the quarter, up from $114.6 million in the same period last year.
Same-store sales decreased 5.8%, compared with an increase of 7.0% for the first quarter of last year.
The company opened 10 new stores during the first quarter.
First Insight adds new director
PITTSBURGH First Insight announced that Richard Marcus has joined its board of directors.
Marcus, a senior advisor at Peter J. Solomon Co., a leading independent investment banking firm, is a director of 7 Billion People and My Wines Direct.
Marcus commented, “First Insight’s new product market testing analytics gives retailers the means to couple new product development and merchandising decisions with keen predictive insight. Its customer network approach to product market testing offers retailers unmatched scale, speed, and accuracy critical for better merchandise performance and customer satisfaction.”
Deer Consumer products names new board members
NEW YORK Deer Consumer Products, maker of small kitchen electronics targeting both international and the Chinese domestic markets, welcomes three independent board members to the company.
Arnold Staloff, chairman of the audit committee, currently serves on the boards of several NASDAQ listed companies including Shiner International, a packaging and anti-counterfeit plastic film company; AgFeed Industries, a feed and commercial hog producer and SmartHeat, an energy savings equipment company.
Edward Hua, chairman of the nominating committee, has held various management positions at the Bank of China and is currently the general manager of the Treasury Department of the Bank of China Shenzhen Branch.
Walter Zhao, chairman of the compensation committee, has been the president of Kaito Electronics, an electronics design and manufacturer, since 1997.