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.
La-Z-Boy Incorporated (LZB) is a leading manufacturer of residential upholstered furniture, renowned for innovative recliners and comfort-focused designs. This news hub provides investors and industry observers with essential updates on corporate developments, financial performance, and strategic initiatives.
Access timely press releases and curated news coverage spanning earnings reports, product launches, manufacturing innovations, and retail expansions. Our aggregation ensures you stay informed about operational milestones, leadership updates, and market positioning within the furniture industry.
Key coverage areas include quarterly financial results, sustainability initiatives, retail network growth, and design partnerships. All content is verified for accuracy and relevance to support informed analysis of LZB's wholesale operations, retail strategies, and competitive dynamics.
Bookmark this page for streamlined access to La-Z-Boy's latest developments. Check regularly for updates reflecting the company's commitment to quality craftsmanship and evolving home comfort solutions.
La-Z-Boy (NYSE: LZB) has unveiled its newly renovated showroom at High Point Market in Furniture Plaza, North Carolina. The remodeled 70,000 square-foot space showcases new visual elements and product offerings, demonstrating the company's Century Vision strategy progress. The renovation is part of a larger investment announced in February 2024, which includes showroom upgrades for the La-Z-Boy brand, La-Z-Boy International, and England Furniture. Despite challenging industry conditions, the company emphasizes its financial stability and commitment to reaching new consumers through its differentiated product portfolio and brand experience.
La-Z-Boy Incorporated (NYSE: LZB) has announced a Chief Financial Officer succession plan. Current CFO Bob Lucian will retire on April 26, 2025, with Taylor Luebke, currently Vice President of Finance and Treasurer, set to succeed him starting January 1, 2025. Luebke, who joined La-Z-Boy in 2021, brings nearly 20 years of finance experience to the role.
CEO Melinda Whittington praised Lucian's contributions, particularly in executing the company's Century Vision strategy and maintaining a strong financial position during challenging times. She expressed confidence in Luebke's ability to provide strong financial leadership and continue the company's strategic execution. Lucian will support the transition until the end of the fiscal year.
La-Z-Boy Incorporated (NYSE: LZB) has appointed Matt Baer to its Board of Directors, effective January 1, 2025, expanding the board to 11 members. Baer, currently CEO of Stitch Fix, brings extensive retail leadership experience to La-Z-Boy. His background includes roles as Chief Customer and Digital Officer at Macy's and Vice President of eCommerce at Walmart.com.
La-Z-Boy CEO Melinda Whittington praised Baer's expertise in retail transformation and digital business growth, stating his addition aligns with the company's Century Vision growth strategy. Board Chair Michael Lawton emphasized the appointment's role in bringing fresh perspectives during a transformative period for La-Z-Boy.
La-Z-Boy reported a 3% increase in sales for Q1 FY2025, reaching $496 million. The Wholesale segment saw a 5% sales growth, while Retail segment sales increased 4% despite a 3% decline in same-store sales. The GAAP operating margin was 6.5%, and diluted EPS was $0.61. Non-GAAP operating margin stood at 6.6%, with a Non-GAAP EPS of $0.62.
Operating cash flow doubled to $52 million from the prior year's first quarter. However, the GAAP operating income decreased by 6% to $32.4 million and GAAP net income dropped by 5% to $26.2 million. The company returned about $42 million to shareholders, including $34 million in share repurchases and $8 million in dividends.
For Q2 FY2025, La-Z-Boy expects sales between $495-$515 million and a Non-GAAP operating margin between 6-7%. CEO Melinda Whittington highlighted the company's strategic investments and strong execution amidst a challenging macroeconomic backdrop.
La-Z-Boy Incorporated (NYSE: LZB) has announced the timing for its Fiscal 2025 First Quarter earnings release and conference call. The company will report results for the period ended July 27, 2024, after the NYSE closes on Tuesday, August 20, 2024. The investor conference call is scheduled for 8:30 a.m. Eastern Time on Wednesday, August 21, 2024.
Investors can access the live call via phone or webcast. The call will be archived online at https://lazboy.gcs-web.com/ for one year, with a two-week telephone replay available. La-Z-Boy operates as a vertically integrated furniture retailer and manufacturer, with 187 company-owned La-Z-Boy Furniture Galleries® stores and a network of over 350 galleries nationwide. The company also owns Joybird®, an e-commerce retailer with 12 U.S. stores, and manufactures furniture for various retail channels under multiple brands.
La-Z-Boy reported its fiscal 2024 fourth quarter and full-year results, highlighting a mixed performance. Fourth quarter sales were $554 million, down 1% from the previous year but up 22% compared to the pre-pandemic fourth quarter in fiscal 2019. GAAP diluted EPS for the quarter was $0.91, and non-GAAP diluted EPS was $0.95. The company generated $53 million in operating cash flow for the quarter.
For fiscal 2024, La-Z-Boy reported consolidated sales of $2.05 billion. GAAP diluted EPS was $2.83, while non-GAAP diluted EPS was $2.98. The company generated $158 million in operating cash flow and ended the year with $341 million in cash and no external debt. La-Z-Boy also returned $85 million to shareholders via share repurchases and dividends.
Despite facing industry challenges like high interest rates and low housing turnover, La-Z-Boy's strong execution and strategic growth, including opening new stores and acquisitions, have positioned it well. However, the company anticipates the industry to remain volatile in fiscal 2025.
La-Z-Boy (NYSE: LZB) will release its Fiscal 2024 Fourth Quarter and Full Year results on June 17, 2024, after the close of trading on the NYSE.
A quarterly investor conference call will follow on June 18, 2024, at 8:30 a.m. Eastern Time. The live call can be accessed via (888) 506-0062 in the U.S. or (973) 528-0011 internationally, with the access code 175127.
The call will be webcast live with slides and archived for one year on the company's website. A replay will be available for two weeks.
La-Z-Boy, known for its iconic recliner, operates as a vertically integrated furniture retailer and manufacturer, with a network that includes company-owned and independently owned stores, and the Joybird® brand.
La-Z-Boy Incorporated, a leading furniture manufacturer, declared a quarterly cash dividend of $0.20 per share, payable on June 14, 2024, to shareholders of record as of June 4, 2024.
The company, known for its iconic recliner since 1927, operates globally with a focus on quality and consumer satisfaction through its retail and wholesale segments.
