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Lumber Liquidators cuts store openings, fiscal outlook on poor Q2 sales
Toano, Va. – Lumber Liquidators reported a 7.1% decline in same-store sales and reduced its outlook for new store openings and earnings in a business update for the second quarter of fiscal 2014. Net sales for the quarter grew 2.3% to $263.1 million, from $257.1 million in the second quarter of 2013, well below Wall Street estimates of $303 million.
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Family Dollar Q3 profit falls 33%
Matthews, N.C. -- Family Dollar Stores’ third quarter income plunged 33% amid higher costs and increased competition. Same-store sales fell 1.8%, which marked the third straight quarterly decline.
Family Dollar is under pressure from activist investor Carl Icahn to put itself up for sale. The company has adopted a shareholder rights plan, or "poison pill."