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Jul 24, 2021
La-Z-Boy Q1 2022 Earnings Report
La-Z-Boy reported record sales for the first quarter of fiscal year 2022, driven by strong demand across all business units.
Key Takeaways
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.
Consolidated sales increased 84% to $524.8 million.
Written same-store sales in the company-owned Retail segment increased 22%.
Written sales for Joybird increased 31%.
GAAP diluted EPS was $0.54 versus $0.10 in the prior-year quarter.
Revenue by Segment
Forward Guidance
The company expects margin performance to begin to improve in the second quarter, finishing the full fiscal year with a consolidated non-GAAP operating margin at or near double digits.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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