TOANO, Va., Aug. 19, 2019 /PRNewswire/ -- Lumber
Liquidators (NYSE: LL), a leading specialty retailer of
hard-surface flooring in North
America, today announced the appointment of Nancy A. Walsh as the Company's Chief Financial
Officer effective September 9,
2019. Ms. Walsh will replace Interim Chief Financial Officer
Timothy Mulvaney who will return to
his role as Chief Accounting Officer for the Company.
Ms. Walsh brings over 30 years of public company finance and
capital markets experience, a deep background in financial planning
and operational management, and extensive knowledge of the retail
industry. She most recently served as Executive Vice
President and Chief Financial Officer of Pier 1 Imports, Inc. Prior
to that, she served as Executive Vice President and Chief Financial
Officer of The Bon-Ton Stores, Inc. and in various finance and
leadership positions with Tapestry, Inc., formerly known as Coach,
Inc.
"The Board and I are excited to add someone with Nancy's broad
retail and finance experience to the executive team at Lumber
Liquidators," said Dennis Knowles,
President and Chief Executive Officer. "Her wealth of
knowledge will assist us as we execute our transformation plan to
position the company for long term success."
"I am eager to join the Lumber Liquidators team at an exciting
point in the Company's journey," said Walsh. "I am confident
that my finance and retail experience will allow me to help lead
the successful execution of our plans and drive value for all
stakeholders."
"I would also like to express my sincere thanks to Tim for his
leadership while serving in the interim role since March," Knowles
added. "We will continue to benefit from his knowledge and
professionalism as he returns to his role as Chief Accounting
Officer, and his experience will help ensure a smooth transition as
Nancy joins the Company."
About Lumber Liquidators
With 416 locations, Lumber Liquidators is one of
North America's leading
specialty retailers of hard-surface flooring. The Company
features more than 400 varieties of floors in the latest
styles, including solid and engineered hardwood, bamboo, cork,
laminate, waterproof vinyl plank and porcelain tile flooring.
Additionally, Lumber Liquidators provides a wide selection of
flooring enhancements and accessories to complement, install and
maintain new floors. Every location is staffed with flooring
experts who can provide advice, pro services and installation
options for all of Lumber Liquidators' products, much of which is
in stock and ready for delivery.
Learn more about Lumber Liquidators:
- Commitment to compliance, quality and the communities it
serves: https://www.lumberliquidators.com/quality.
- Corporate giving: LayItForward.LumberLiquidators.com.
- Follow on social media: Facebook, Instagram and Twitter.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release includes statements of the Company's
expectations, intentions, plans and beliefs that constitute
"forward-looking statements" within the meanings of the Private
Securities Litigation Reform Act of 1995. These statements, which
may be identified by words such as "may," "will," "should,"
"expects," "intends," "plans," "anticipates," "believes," "thinks,"
"estimates," "seeks," "predicts," "could," "projects," "potential"
and other similar terms and phrases, are based on the beliefs of
the Company's management, as well as assumptions made by, and
information currently available to, the Company's management as of
the date of such statements. These statements are subject to risks
and uncertainties, all of which are difficult to predict and many
of which are beyond the Company's control. These risks include,
without limitation, the impact on us of any of the following:
- the outcomes of legal proceedings, and the related impact on
liquidity;
- reputational harm;
- obligations related to and impacts of new laws and regulations,
including pertaining to tariffs;
- obtaining products from abroad, including the effects of
tariffs, as well as the effects of antidumping and countervailing
duties;
- obligations under various settlement agreements and other
compliance matters;
- disruptions related to our corporate headquarters
relocation;
- inability to open new stores, find suitable locations for our
new store concept, and fund other capital expenditures;
- inability to execute on our key initiatives or such key
initiatives do not yield desired results;
- managing growth;
- transportation costs;
- damage to our assets;
- disruption in our ability to distribute our products;
- operating stores in Canada and
an office in China;
- managing third-party installers and product delivery
companies;
- renewing store or warehouse leases;
- having sufficient suppliers;
- our, and our suppliers', compliance with complex and evolving
rules, regulations, and laws at the federal, state, and local
level;
- disruption in our ability to obtain products from our
suppliers;
- product liability claims;
- availability of suitable hardwood, including due to disruptions
from the impacts of severe weather;
- changes in economic conditions, both domestic and abroad;
- sufficient insurance coverage;
- access to and costs of capital;
- disruption due to cybersecurity threats;
- the handling of confidential customer information, including
the impacts from the California Consumer Privacy Act;
- management information systems disruptions;
- alternative e-commerce offerings;
- our advertising strategy;
- anticipating consumer trends;
- competition;
- impact of changes in accounting guidance, including the
implementation guidelines and interpretations;
- maintenance of valuation allowances on deferred tax assets and
the impacts thereof;
- internal controls including those over tariffs;
- stock price volatility; and
- anti-takeover provisions.
The Company specifically disclaims any obligation to update
these statements, which speak only as of the dates on which such
statements are made, except as may be required under the federal
securities laws. Information regarding these and other
additional risks and uncertainties is contained in the Company's
other reports filed with the Securities and Exchange Commission,
including the Item 1A, "Risk Factors," section of the Form 10-K for
the year ended December 31, 2018.
For further information contact:
Lumber Liquidators Investor Relations
ir@lumberliquidators.com
Tel: 757.566.7512
View original content to download
multimedia:http://www.prnewswire.com/news-releases/lumber-liquidators-announces-appointment-of-nancy-a-walsh-as-chief-financial-officer-300903771.html
SOURCE Lumber Liquidators