Lumber Liquidators Board Authorizes New $50 Million Share Repurchase Program
TOANO, Va.--(BUSINESS WIRE)-- Lumber Liquidators (LL), the largest specialty retailer of hardwood flooring in the U.S., today announced that its Board of Directors has authorized the repurchase of an additional $50 million of its common stock. The repurchases will be subject to market conditions and other factors and will be made from time to time through open market purchases or through privately negotiated transactions.
Robert M. Lynch, President and Chief Executive Officer, commented, Lumber Liquidators continues to demonstrate the ability to self-fund growth while generating free cash. The new share repurchase authorization reflects our continuing commitment to build value for long-term shareholders and our confidence in the future.
About Lumber Liquidators
With over 285 locations, Lumber Liquidators is North Americas largest specialty retailer of hardwood flooring. The Company features more than 340 first quality flooring varieties, including solid and engineered hardwood, bamboo, cork, laminate and resilient vinyl. Every location is staffed with flooring experts who can provide advice and useful information about Lumber Liquidators low priced product, much of which is in-stock and ready for delivery.
With quality brands including Bellawood Prefinished Hardwood and Morning Star Bamboo, Lumber Liquidators flooring is often featured on popular television shows, such as Extreme Makeover: Home Edition and HGTVs Dream Home.
Lumber Liquidators Investor Relations
Ashleigh McDermott, 757-566-7512
Source: Lumber LiquidatorsCopyright Business Wire 2012