La-Z-Boy Reports First Quarter Fiscal 2024 Results
August 22, 2023
- Company owned Retail written same-store sales increased 2%
- Delivered sales and operating margin in line with guidance
- GAAP diluted EPS of $0.63; Non-GAAP diluted EPS of $0.62
- Resumed share buybacks in the quarter with $10 million in share repurchases
- Second quarter guidance for sales of $490-$510 million and operating margin of 6.5%-7.5%
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La-Z-Boy Appoints Raza Haider to Board of Directors
June 28, 2023
La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Raza S. Haider has been named to its Board of Directors, effective yesterday. He will serve on the Nominating and Governance Committee. The appointment expands the Board to 11 members.
Mr. Haider is the Chief Product and Supply Chain Officer of Bose Corporation. At Bose, he is responsible for designing strategic innovations for the brand’s broad product portfolio to better connect with consumers. Prior to joining Bose, he was Senior Vice President at Dell Technologies, Inc. where he was most recently the general manager of Dell’s global consumer PC and Client Peripheral business and before that, led various product development groups. Raza’s 23-year career includes a diverse set of experiences at other global companies, including McKinsey and Adventis.
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La-⁠Z-⁠Boy Reports Record Full Year Operating Income and EPS
June 20, 2023
La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported solid fourth quarter and full year results for the period ending April 29, 2023.
Fourth Quarter 2023 Financial Highlights:
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Consolidated sales of $561 million
- -12% adjusting for the 53rd week in the fourth quarter of fiscal 2022, versus last year, which benefited from a strong backlog
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Retail segment sales increased 4% to $243 million
- +12% adjusting for the 53rd week in the fourth quarter of fiscal 2022
- Written same-store sales were essentially flat
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La-Z-Boy Announces Timing of Fiscal 2023 Fourth Quarter Earnings Release/ Conference Cal
June 8, 2023
La-⁠Z-⁠Boy Incorporated (NYSE: LZB) will report its fiscal 2023 fourth quarter results after the close of trading on the New York Stock Exchange on Tuesday, June 20, 2023, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, June 21, 2023.
The dial-in phone number for the live conference call will be (888) 506-0062 for persons calling from within the U.S. or Canada, and the number for international callers will be (973) 528-0011. The participant access code is 392627.
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La-Z-Boy Declares Quarterly Dividend
May 2, 2023
Directors of La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, declared a quarterly cash dividend on the company’s common stock of $0.1815 per share. The dividend is payable June 15, 2023 to shareholders of record as of June 2, 2023.
Additional Information
This news release is just one part of La-⁠Z-⁠Boy’s financial disclosures and should be read in conjunction with other information filed with the SEC, which is available at: https://lazboy.gcs-web.com/financial-information/sec-filings. Investors and others wishing to be notified of future La-⁠Z-⁠Boy news releases, SEC filings and quarterly investor conference calls may sign up at: https://lazboy.gcs-web.com/.
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Rebecca Reeder Appointed President, Retail La-Z-Boy Furniture Galleries
Keith Wilson, President International and Joybird, Announces Retirement
La-⁠Z-⁠Boy Incorporated Announces Related Leadership Team Realignment
April 4, 2023
La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced the realignment of its Executive Leadership Team, in conjunction with several key announcements.
In connection with the company’s new fiscal year at end of April:
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La-⁠Z-⁠Boy to Present at Sidoti Investor Conference
March 14, 2023
La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Melinda D. Whittington, President and Chief Executive Officer, and Bob Lucian, Chief Financial Officer, will present at the Sidoti Small-Cap Conference, on Thursday, March 23, 2023, at 2:30 p.m. Eastern. The presentation will be webcast live and will be archived for 90 days. It will be available at https://lazboy.gcs-web.com/.
Additional Information
This news release is just one part of La-⁠Z-⁠Boy’s financial disclosures and should be read in conjunction with other information filed with the SEC, which is available at: https://lazboy.gcs-web.com/financial-information/sec-filings. Investors and others wishing to be notified of future La-⁠Z-⁠Boy news releases, SEC filings and quarterly investor conference calls may sign up at: https://lazboy.gcs-web.com/.
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La-⁠Z-⁠Boy Appoints Mark S. LaVigne to Board of Directors
February 28, 2023
La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Mark S. LaVigne has been named to its Board of Directors, effective immediately. He will serve on the Audit Committee. The appointment expands the Board to 10 members.
LaVigne is the President and Chief Executive Officer of Energizer Holdings, Inc. At Energizer, he has served in a variety of senior leadership positions with increasing responsibility since 2010, including as Chief Operating Officer since 2015 until his appointment as CEO in January 2021. Most recently, LaVigne successfully led the company through the COVID pandemic with a focus on safety, business continuity and supply chain agility.
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La-⁠Z-⁠Boy to Present at Raymond James 44th Annual Institutional Investors Conference
February 27, 2023
La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Melinda D. Whittington, President and Chief Executive Officer, and Bob Lucian, Chief Financial Officer, will present at the Raymond James 44th Annual Institutional Investors Conference, on March 6, 2023, at 4:00 p.m. Eastern. The presentation will be webcast live and archived for 90 days. It will be available at https://lazboy.gcs-web.com/.
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La-⁠Z-⁠Boy Reports Strong Fiscal 2023 Third-Quarter
Written Same-Store Sales Increased 3% for Retail Segment
February 21, 2023
La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported excellent third-quarter results for the period ending January 28, 2023.
Fiscal 2023 third-quarter highlights versus prior-year third quarter:
- Consolidated sales increased to $573 million
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GAAP operating income increased by 8%
- Non-GAAP operating income increased by 34%
- GAAP operating margin increased 60 basis points to 7.5%
- Non-GAAP operating margin increased 230 basis points to 9.3%
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La-⁠Z-⁠Boy Announces Fiscal 2023 Third-Quarter Conference Call
February 8, 2023
La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, will report its fiscal 2023 third-quarter results after the close of trading on the New York Stock Exchange on Tuesday, February 21, 2023, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, February 22, 2023.
The dial-in phone number for the live conference call will be (888) 506-0062 for persons calling from within the U.S. or Canada, and the number for international callers will be (973) 528-0011. The participant access code is 858794.
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La-⁠Z-⁠Boy Announces Planned Retirement of Otis Sawyer, President, La-⁠Z-⁠Boy Portfolio Brands; Names Tj Linz as Successor
December 8, 2022
La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced the planned retirement of Otis Sawyer, President, La-⁠Z-⁠Boy Portfolio Brands. Tj Linz, President, La-⁠Z-⁠Boy Retail, will assume Sawyer’s responsibilities at the end of April 2023, the start of the company’s fiscal 2024 year. Sawyer will remain with the company through June 2023 to ensure a seamless transition.
Melinda D. Whittington, President and Chief Executive Officer of La-⁠Z-⁠Boy Incorporated, said, "As we execute our Century Vision strategy and position the company for long-term profitable growth, succession planning plays an integral role in our business philosophy and management of the company. With extensive systems expertise and a focus on lean initiatives, Otis made significant contributions to La-⁠Z-⁠Boy Incorporated throughout his 29-year tenure. We thank him and wish him all the best in his well-deserved retirement. At the same time, we are thrilled to announce that Tj will succeed Otis as President, Portfolio Brands Division. Under Tj’s leadership using data-driven analytics, our company-owned Retail business has experienced tremendous profitable growth. And, he has built a strong and unique culture throughout the Retail team, which drives exceptional performance and talent development at all levels. Tj will undoubtedly be equally successful in his new role as he further refines and develops the Portfolio Brands business and team.”
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La-⁠Z-⁠Boy Reports Record Fiscal 2023 Second-Quarter Results; Increases Dividend by 10%
November 30, 2022
La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported record-setting second-quarter results for the period ending October 29, 2022.
Fiscal 2023 second-quarter highlights versus prior year:
- Consolidated sales increased 6% to $611 million, a second-quarter record
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GAAP operating profit increased by 14%
- Non-GAAP operating profit increased by 19%
- GAAP operating margin increased 70 basis points to 10.1%
- Non-GAAP operating margin increased 100 basis points to 10.0%
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GAAP EPS increased by 20%
- Non-GAAP EPS increased by 24%
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Retail segment sales increased 31% to $252 million, an all-time quarterly record
- Operating profit also all-time quarterly record
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La-⁠Z-⁠Boy Announces Fiscal 2023 Second-Quarter Conference Call
November 9, 2022
La-Z-Boy Incorporated (NYSE: LZB), will report its fiscal 2023 second-quarter results after the close of trading on the New York Stock Exchange on Wednesday, November 30, 2022, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Thursday, December 1, 2022.
The dial-in phone number for the live conference call will be (888) 506-0062 for persons calling from within the U.S. or Canada, and the number for international callers will be (973) 528-0011. The participant access code is 642911.
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