Lumber Liquidators Financial Report

In: Business and Management

Submitted By blaine
Words 726
Pages 3
Tom Sullivan, a building contractor, began purchasing excess wood that other companies didn't need in 1933. He then resold it from the back of a trucking firms yard in Massachusetts. This led the company to finding their position in the market of hardwood flooring in 1996. The first store opened on January 5, 1996 in West Roxbury, Massachusetts and sold 150 sq ft of floors that first day. Eight months later they opened a second store in Hartford, Connecticut and the increase continued ever since. The company has employed over 500 people in stores throughout 42 states over the past 10 years. The opening of new stores will be taking place this year and they have grown to over 100 locations nationwide. The company moved their headquarters from Boston to Virginia in order to be closer to the ports and for better distribution. Five years later they had to move again because their building was to small for the growth of the company. (About Us) Lumber Liquidators has one of the largest inventories of pre-finished and unfinished hardwood floors. They offer a range of brands for residential and commercial construction. They also carries laminate flooring, cork flooring, bathroom vanities, and butcher blocks. In order to help customers save money they eliminate the middle man by purchasing an entire years production though direct negotiation with the mills. Lumber Liquidators is a environmentally responsible company. They only buy from suppliers who practice sustainable harvesting, which allows forests to heal and re-grow faster.
Inc. Magazine’s 500 Fastest Growing Private Companies has recognized Lumber Liquidators. Virginia Business’s Fantastic 50 has also recognized Lumber Liquidators two years in a row. Their Chairman and Founder, Tom Sullivan was named Ernst and Young's 2003 Virginia Entrepreneur of the Year. They have also been seen nationally in…...

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