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Jan 25, 2025
La-Z-Boy Q3 2025 Earnings Report
La-Z-Boy Incorporated reported strong third quarter results with sales growth across all segments and accelerating company-owned same-store sales.
Key Takeaways
La-Z-Boy Incorporated delivered strong third quarter results, with consolidated sales increasing 4% to $522 million and operating margin improving by 20 basis points. The Retail segment saw an 11% increase in sales, driven by same-store sales growth and acquisitions, while the Wholesale segment also posted sales growth and margin expansion.
Consolidated delivered sales increased 4% to $522 million compared to the prior year.
Operating margin on both GAAP and Non-GAAP basis improved by 20 basis points year-over-year.
Retail segment sales grew 11%, fueled by same-store sales growth and independent La-Z-Boy Furniture Galleries® acquisitions.
GAAP and Non-GAAP diluted EPS totaled $0.68 for the quarter.
Revenue by Segment
Forward Guidance
For the fiscal fourth quarter, La-Z-Boy expects sales to be in the range of $545-565 million and Non-GAAP operating margin to be in the range of 8.5-9.5%. The company anticipates continued outperformance of the industry despite ongoing macro pressures.
Positive Outlook
- Strong written trends and sequential acceleration in Retail and Wholesale businesses.
- Continued focus on growing core La-Z-Boy brand.
- Disproportionate expansion of the Retail segment.
- Driving strategic, compatible distribution in the Wholesale segment.
- Expectation to continue to outpace the broader industry.
Challenges Ahead
- Industry trends are expected to remain under pressure.
- Continued challenging macro conditions.
- Potential impact of significant customer transition in international wholesale business.
- Underlying housing fundamentals remain challenged.
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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