La-Z-Boy Q1 2023 Earnings Report
Key Takeaways
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%.
Consolidated sales increased 15% to $604 million, a first-quarter record.
Retail segment sales increased 30% to $236 million, an all-time quarterly record.
Joybird written sales increased 12%.
GAAP diluted EPS increased to $0.89 from $0.54.
La-Z-Boy
La-Z-Boy
La-Z-Boy Revenue by Segment
Forward Guidance
The company expects delivered sales for the fiscal 2023 second quarter to be up 2% to 5% versus the second quarter of fiscal 2022, in a range of about $590 million to $605 million, and consolidated non-GAAP operating margin to be in a range of about 8.0% to 8.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income