Operating a company like Lumber Liquidators is relatively straight forward. There is no research and development, no patents, no highly skilled labor. The company buys flooring from large manufacturers and resells it at a markup in retail stores. The company sells over $1.1 billion dollars of flooring per year and has 415 stores across the USA. Yet, the company loses money. Or, to be clear, shareholders lose money. Management makes millions. The board of directors make millions. The flooring suppliers make millions. The company advertisers make millions. But Lumber Liquidators shareholders lose millions.
Over the last 4 years, the company has helped millions of Americans purchase and install beautiful flooring in their homes, and the company has not made 1 dollar in profit. Lumber Liquidators is effectively being managed like a flooring charity. Obviously, a change is needed.