Welcome to our dedicated page for La-Z-Boy news (Ticker: LZB), a resource for investors and traders seeking the latest updates and insights on La-Z-Boy stock.
Company Overview
La-Z-Boy Inc is widely acknowledged as one of the most recognized names in residential furniture production, renowned for its quality upholstered furniture and recliners. With a core focus on enhancing the comfort and lifestyle of its consumers through innovative design and dependable manufacturing, the company operates at the intersection of robust wholesale operations and extensive retail distribution. The integrated business model combines state-of-the-art manufacturing processes with a widespread retail network, ensuring that quality home furnishings reach diverse markets across North America and beyond.
Business Model and Operational Excellence
The company generates revenue primarily through its wholesale segment, which is dedicated to the design, manufacturing, and importation of high-quality upholstered furniture. This model is complemented by its retail arm, which markets and sells furniture products directly to consumers. This comprehensive approach to both production and distribution allows La-Z-Boy to maintain a competitive edge by controlling many aspects of its supply chain while meeting the diverse needs of its extensive customer base.
Manufacturing and Product Quality
Central to La-Z-Boy's operations is its commitment to superior craftsmanship and innovative production techniques. Its state-of-the-art manufacturing plants use advanced technology and strict quality control measures to produce a wide range of upholstery and case goods for every room in the home. Emphasizing comfort and durability, each piece of furniture is designed to meet exacting standards, ensuring longevity and sustained customer satisfaction. The company’s quality commitment is underpinned by rigorous safety protocols, which have set new benchmarks within the U.S. furniture industry.
Retail and Distribution Network
La-Z-Boy boasts a well-established retail presence with hundreds of stores spanning the United States and Canada. This extensive network facilitates direct consumer engagement and provides a tactile experience of the brand's quality and comfort. Additionally, the company’s strong distribution network ensures that its products are accessible not only through physical retail locations but also through strategic partnerships that extend its reach to various international markets. This dual-channel approach supports a seamless transition from manufacturing excellence to consumer accessibility.
Design, Innovation, and Market Position
Innovation in design and a continuous focus on consumer comfort are core tenets of La-Z-Boy's value proposition. The company skillfully integrates evolving consumer insights with traditional craftsmanship to create furniture that is both aesthetically appealing and ergonomically sound. Industry-specific keywords such as residential furniture, upholstery, and recliners underscore its expertise in the home comfort arena. With a long heritage marked by dependable performance in safety and quality, La-Z-Boy has solidified its competitive market position against various industry rivals by ensuring that every product embodies the combination of comfort, durability, and innovative design.
Corporate Citizenship and Operational Integrity
Understanding that high performance is also linked to responsible corporate citizenship, La-Z-Boy has consistently demonstrated an unwavering commitment to both its employees and the communities it serves. The company’s dedication to maintaining exemplary safety standards, along with internal measures for quality, showcase a transparent operational model built on years of industry experience. Corporate initiatives have included significant contributions to non-profit organizations and a continued emphasis on improving workplace safety, reflecting a balanced approach to business that merges profitability with social responsibility.
Competitive Landscape and Market Dynamics
Within the competitive landscape of the furniture industry, La-Z-Boy differentiates itself through a blend of innovative manufacturing, strong retail operations, and efficient distribution channels. The company’s extensive market footprint is bolstered by its ability to adapt product offerings to meet the unique needs of consumers while maintaining a steadfast commitment to quality. This operational resilience and its continuous focus on optimizing safety and production efficiency enable La-Z-Boy to remain a prominent figure in the market amid diverse industry challenges.
Summary of Business Model
- Wholesale Segment: Specializes in high-quality production and importation of upholstered furniture.
- Retail Segment: Operates an expansive network of stores that connect directly with consumers.
- Manufacturing Excellence: Utilizes advanced, technology-driven processes combined with rigorous quality and safety standards.
- Distribution Network: Ensures widespread accessibility of furniture products through both domestic and international channels.
- Design Innovation: Merges traditional craftsmanship with modern ergonomic design, ensuring each piece offers comfort and durability.
- Corporate Citizenship: Balances operational success with commitment to employee welfare and community contributions.
Through these meticulously curated operational strategies and business philosophies, La-Z-Boy Inc has established itself as an emblematic brand in the residential furniture industry. Its comprehensive approach, spanning from advanced manufacturing to a consumer-centric retail model, continues to reflect a deep understanding of market dynamics and an unwavering dedication to quality. This detailed overview encapsulates the company's ability to consistently deliver on its promise of comfort and durability, emphasizing its significant role as a trusted manufacturer and distributor in the home furnishings space.
La-Z-Boy Incorporated (NYSE: LZB) has announced its participation in the Raymond James 46th Annual Institutional Investors Conference at the JW Marriott Grande Lakes in Orlando, Florida. Key executives including Board Chair, President and CEO Melinda D. Whittington, CFO Taylor Luebke, and Director of Investor Relations Mark Becks will engage in a fireside chat presentation on March 3, 2025, at 4:00 p.m. ET.
The presentation will be accessible through a live webcast and archived on the company's investor relations website. La-Z-Boy, founded in 1927, operates as a vertically integrated furniture retailer and manufacturer with nearly 200 company-owned stores and a network of over 360 La-Z-Boy Furniture Galleries® nationwide. The company's portfolio includes Joybird®, an e-commerce retailer with 12 U.S. stores, and wholesale brands England Furniture Co., Kincaid®, American Drew®, and Hammary®.
La-Z-Boy (NYSE: LZB) reported strong Q3 FY2025 results with consolidated delivered sales of $522 million, up 4% year-over-year. The company achieved a GAAP operating margin of 6.7% and diluted EPS of $0.68. The Retail segment showed impressive growth with sales increasing 11%, driven by same-store sales growth and acquisitions.
Key highlights include written same-store sales up 7% for company-owned stores and 5% for the entire network. The company returned $90 million to shareholders year-to-date, a 40% increase from the previous year. Looking ahead, La-Z-Boy expects Q4 sales between $545-565 million with a Non-GAAP operating margin of 8.5-9.5%.
The company maintained a strong financial position with $315 million in cash and no external debt. The Board declared a quarterly dividend of $0.22 per share, payable March 14, 2025.
La-Z-Boy Incorporated (NYSE: LZB) has been named to Forbes' 2025 List of America's Best Large Employers. The recognition comes from an independent survey conducted by Forbes and Statista, involving over 217,000 U.S. employees from companies with 1,000+ employees nationwide. The evaluation process considered more than 6.5 million employer assessments across six key dimensions: atmosphere and development, salary/wage, image, diversity, working conditions, and workplace environment.
Board Chair, President and CEO Melinda Whittington emphasized the company's century-long commitment to innovation, craftsmanship, and integrity. The company's core values of courage, curiosity, and compassion have driven its mission to deliver comfort through both furniture and employee support. Recent years have seen La-Z-Boy prioritize employee connectedness, physical safety, personal wellbeing, and career development.
Katie Vanderjagt, VP and Chief Human Resources Officer, highlighted the company's commitment to creating a workplace where employees feel valued and respected. The recognition validates La-Z-Boy's focus on fostering a strong corporate culture and investing in its workforce.
La-Z-Boy (NYSE: LZB) has announced it will release its Fiscal 2025 Third Quarter results for the period ended January 25, 2025, after NYSE trading closes on Tuesday, February 18, 2025. The company will host an investor conference call on Wednesday, February 19, 2025, at 8:30 a.m. Eastern Time.
The conference call will include a live webcast with slides and dial-in options. U.S. and Canada participants can call (888) 506-0062, while international callers should use (973) 528-0011, with access code 837177. The call will be archived online and available for one year, with a two-week telephone replay option.
La-Z-Boy operates as a vertically integrated furniture retailer and manufacturer, with 193 company-owned stores within a network of over 350 La-Z-Boy Furniture Galleries®. The company also owns Joybird®, an e-commerce furniture retailer with 12 U.S. stores, and manufactures furniture through various brands including England Furniture Co., Kincaid®, American Drew®, and Hammary®.
La-Z-Boy (NYSE: LZB) has released its FY2024 Impact Report, showcasing significant sustainability achievements and community initiatives. The report, titled 'Preserving Our Heritage, Transforming for Tomorrow', outlines the company's progress in environmental and social responsibility.
Key accomplishments include:
- SBTi validation of targets to reduce Scope 1 emissions by 64%, Scope 2 by 62%, and Scope 3 by 51% by FY2032
- Achieved 96% recycling rate for non-hazardous waste and 20% reduction in hazardous waste
- Renewable energy covering 75% of U.S. and 64% of global electricity consumption
- Over $1.4 million in donations through La-Z-Boy Foundation and 16,000 furniture pieces donated to Ronald McDonald House Charities
The company also highlighted its TranZform Initiative implementation across manufacturing facilities and the restoration of a 120-acre plot at its World Headquarters. These efforts align with La-Z-Boy's Century Vision strategy, targeting its 100th anniversary in 2027.
La-Z-Boy (NYSE: LZB) has announced its participation in the 2025 ICR Conference, with Board Chair, President and CEO Melinda D. Whittington and CFO Taylor Luebke scheduled to present on January 13, 2025, at 4:30 p.m. Eastern Time. The presentation will be accessible via live webcast and archived on the company's investor relations website.
La-Z-Boy operates as a vertically integrated furniture retailer and manufacturer, with a legacy dating back to 1927 when its founders invented the iconic recliner. The company's retail segment encompasses 193 company-owned La-Z-Boy Furniture Galleries® stores within a broader network of over 350 galleries nationwide, complemented by La-Z-Boy.com. Additionally, Joybird®, their e-commerce division specializing in modern upholstered furniture, maintains 12 U.S. stores.
The wholesale segment includes multiple brands: La-Z-Boy's custom furniture manufacturing, England Furniture Co.'s upholstered furniture, and casegoods brands Kincaid®, American Drew®, and Hammary®.
La-Z-Boy (NYSE:LZB) announced key leadership changes effective December 11, 2024. Melinda Whittington, current President, CEO, and Board member, has been elected to serve additionally as Chair of the Board. Michael Lawton, who served as Board Chair since May 2022, will return to his previous position of independent Lead Director.
Whittington has been President and CEO since 2021, after serving as Senior VP and CFO for three years. Her previous experience includes CFO roles at Allscripts Healthcare Solutions and senior positions at Kraft Foods Group and Procter & Gamble. She currently serves on Best Buy's Board of Directors. Lawton, a director since 2013, previously held executive positions at Domino's Pizza and Gerber Products Company.
La-Z-Boy (NYSE: LZB) has opened a new retail experience store in Chicago's Lincoln Park neighborhood, featuring a 12,600 square-foot space that combines the company's heritage with modern lifestyle themes. The store introduces innovative sections like 'Urban Modern,' 'La-Z-Girl,' and 'Gamer,' alongside a Recliner Runway with digital customization capabilities. The location features Chicago-specific elements, including a commissioned mural by local artist Stephen Monkemeier and a 'La-Z-Dog' wall celebrating community pets. The store also debuts the company's first candle, Heritage 1927, and offers Black Friday promotions to mark its opening.
La-Z-Boy (NYSE: LZB) reported strong Q2 FY2025 results with consolidated delivered sales of $521 million, up 2% year-over-year. The company achieved GAAP and Non-GAAP diluted EPS of $0.71. The Retail segment saw a 3% increase in sales, driven by independent La-Z-Boy Furniture Galleries acquisitions and record Labor Day sales. The company-owned store network expanded by five stores. The Board approved a 10% increase in quarterly dividend to $0.22. The company returned $70 million to shareholders in the first two quarters, nearly double compared to last year. For Q3, La-Z-Boy expects sales between $505-525 million and Non-GAAP operating margin of 6-7%.
La-Z-Boy (NYSE: LZB) has announced it will release its Fiscal 2025 Second Quarter results for the period ended October 26, 2024, after NYSE trading closes on Tuesday, November 19, 2024. The company will host an investor conference call on Wednesday, November 20, 2024, at 8:30 a.m. Eastern Time. The call will be webcast live with slides and archived online for one year. The company operates approximately 190 company-owned stores within a network of over 350 La-Z-Boy Furniture Galleries® stores and includes Joybird®, which has 12 U.S. stores.
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