While overall sales increased by 2.3 percent with the help of 13 new stores, comparable store sales dropped 7.1 percent in the second quarter, according to a news release.
The hardwood and laminate flooring retailer also experienced an 8.3 percent increase in administrative and selling expenses because of higher advertising, occupancy and legal costs.
Over the half-year, net sales increased 4.5 percent overall but dropped 4 percent comparing same-store sales. The company opened 26 new stores during the first six months.
Profit dropped by 16 percent from
"Despite the challenges we faced in the second quarter and results that were not at the level we would have hoped, our value proposition is as strong and relevant as ever to our customers," President and CEO
Lynch said the company expects to drive growth in the second half of the year while continuing infrastructure expansion. The company is in its 20th year.
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