La-Z-Boy Earnings Reports

La-Z-Boy posted solid Q4 results with sales up 3% and strong adjusted margins, benefiting from retail expansion and core wholesale growth. Net income declined due to goodwill impairment in the UK business.

La-Z-Boy Incorporated reported a 4% increase in sales, reaching $522 million for the third quarter. Both GAAP and Non-GAAP diluted EPS were $0.68. The company's operating margin improved by 20 basis points, and it returned $90 million to shareholders year-to-date.

La-Z-Boy Incorporated reported a 2% increase in consolidated delivered sales, reaching $521 million. GAAP and Non-GAAP diluted EPS both stood at $0.71. The company's Retail segment saw a 3% sales increase, driven by acquisitions, new stores, and strong Labor Day sales. The board approved a 10% increase to the quarterly dividend, raising it to $0.22 per share.

La-Z-Boy Incorporated reported first quarter results for the period ended July 27, 2024, with sales totaling $496 million, a 3% increase year-over-year. GAAP diluted EPS was $0.61 and Non-GAAP diluted EPS was $0.62. Operating cash flow doubled to $52 million compared to the previous year.

La-Z-Boy Incorporated reported Q4 sales of $554 million, a 1% decrease year-over-year but a 22% increase compared to the pre-pandemic Q4 2019. GAAP diluted EPS was $0.91, and non-GAAP diluted EPS was $0.95. The company generated $53 million in operating cash flow for the quarter and expanded its company-owned La-Z-Boy Furniture Galleries® network by three stores.

La-Z-Boy Incorporated reported a 13% decrease in sales to $500 million compared to the previous year, impacted by winter weather events. GAAP diluted EPS was $0.66, and Non-GAAP diluted EPS was $0.67. The company acquired six independent La-Z-Boy Furniture Galleries® stores and has plans for an additional two-store acquisition.

La-Z-Boy Incorporated reported sales of $511 million, a decrease of 16% compared to the previous year. GAAP diluted EPS was $0.63, and Non-GAAP diluted EPS was $0.74. The La-Z-Boy Furniture Galleries® network written same-store sales increased by 1%.

La-Z-Boy's first quarter fiscal 2024 saw sales of $482 million, a 20% decrease compared to the previous year, which benefited from pandemic-related backlog. Company-owned Retail written same-store sales increased by 2%. GAAP diluted EPS was $0.63, and Non-GAAP diluted EPS was $0.62. The company resumed share buybacks, repurchasing $10 million in shares.

La-Z-Boy Incorporated reported a decrease in consolidated sales for the fourth quarter, but highlighted the strength of its Retail segment. The company's GAAP diluted EPS decreased, but non-GAAP diluted EPS also saw a decrease. Despite a challenging macro environment, La-Z-Boy maintained roughly flat written same-store sales and is confident in its ability to grow ahead of the industry.

La-Z-Boy Incorporated reported excellent third-quarter results for the period ending January 28, 2023. Consolidated sales increased to $573 million, GAAP operating income increased by 8%, and non-GAAP operating income increased by 34%. The retail segment saw a 27% increase in sales and a record operating income of $44 million.

La-Z-Boy Incorporated reported record second-quarter sales of $611 million, a 6% increase year-over-year, driven by the company-owned Retail business. GAAP EPS increased by 20% to $1.07, and non-GAAP EPS increased by 24% to $1.05. The company is proactively aligning its cost structure with demand and making prudent investments to drive long-term profitable growth.

La-Z-Boy Incorporated reported record-setting first-quarter results with consolidated sales increasing by 15% to $604 million. The company's retail segment also achieved an all-time quarterly record with a 30% increase in sales, and Joybird written sales increased by 12%.

La-Z-Boy Incorporated reported record sales and operating income for the fiscal 2022 fourth quarter, driven by strong consumer demand, global supply chain challenges, and macroeconomic uncertainty. Consolidated sales increased by 32% to $685 million, and GAAP diluted EPS increased to $1.33.

La-Z-Boy Incorporated reported a 22% increase in consolidated sales for the fiscal 2022 third quarter, driven by strong demand. However, the quarter was marked by supply chain volatility, COVID absenteeism, and challenges in hiring and training new employees, which impacted manufacturing efficiency and profit margins.

La-Z-Boy Incorporated reported record-high sales for the quarter, increasing capacity to service demand and realizing pricing and surcharge actions to offset rising raw material costs. The company delivered strong results, including improved margins versus the last quarter, despite navigating a challenging operating environment with supply chain disruption.

La-Z-Boy Incorporated reported record sales for the fiscal 2022 first quarter, with consolidated sales increasing 84% to $524.8 million. The company's operating margin improved, and EPS increased to $0.54. Strong written order trends were observed in both the Retail and Joybird segments. The Board of Directors increased the company's share repurchase authorization.

La-Z-Boy reported strong Q4 fiscal year 2021 results with record sales and profits, driven by increased production capacity and excellent performance by company-owned La-Z-Boy Furniture Galleries stores. The company's written same-store sales doubled, and Joybird continued to grow with profitability.

La-Z-Boy Incorporated reported a decrease in consolidated sales by 1.2% to $470.2 million, but experienced a 6.3% increase in written same-store sales for the La-Z-Boy Furniture Galleries® network. GAAP EPS was $0.62, while non-GAAP EPS was $0.74. The company's cash position more than doubled to $393 million, and the dividend was increased to $0.15 per share.

La-Z-Boy Incorporated reported a 2.7% increase in consolidated sales to $459.1 million for the second quarter of fiscal 2021. The company's GAAP operating margin increased to 10.4%, and non-GAAP operating margin improved to 11.1%. Strong demand and increased production capacity contributed to the positive results.

La-Z-Boy's first quarter of fiscal 2021 was impacted by COVID-19, with consolidated sales decreasing by 31.0% to $285.5 million. However, written same-store sales for the La-Z-Boy Furniture Galleries® network increased by 14.8%, and the company generated $106.3 million in cash from operating activities.

La-Z-Boy's Q4 2020 sales decreased by 19.1% to $367.3 million due to COVID-19 impacts, which were partially offset by a one-time rebate of previously paid China tariffs. GAAP EPS was $0.05, while non-GAAP EPS was $0.49. The company responded to the pandemic with a decisive action plan by temporarily furloughing 70% of their workforce and dramatically reducing all other cash expenditures to preserve liquidity.

La-Z-Boy's Q3 2020 results showed a 1.8% increase in consolidated sales to $475.9 million, driven by growth in the Retail segment. GAAP EPS was $0.74, up from $0.61 in the prior year. The company generated $66.1 million in cash from operating activities.