Lumber Liquidators to expand into Canada in Q4

Toano, Va. Lumber Liquidators said its first-quarter profit rose nearly 37% as strong consumer demand drove sales.

The company also said Wednesday that it plans to expand its presence into Canada in fourth quarter 2010. Its expansion into Canada is included in its plans to add between 36 and 40 stores this year.

CEO Jeffrey Griffiths said the expansion is a natural next step and the company expects its value proposition will resonate strongly with Canadian consumers.

Lumber Liquidators said same-store sales 8% in the quarter, compared with a decrease of nearly 6% in the same period last year.

The company said increased consumer demand will continue to have a positive impact on its business.