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.”

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
• 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%
• GAAP EPS increased by 20%
  • Non-GAAP EPS increased by 24%
• Retail segment sales increased 31% to $252 million, an all-time quarterly record
  • Operating profit also all-time quarterly record

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.

La-⁠Z-⁠Boy Reports Record Fiscal 2023 First-Quarter Results

August 23, 2022

La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported record-setting first-quarter results for the quarter ended July 30, 2022.

Fiscal 2023 first-quarter highlights versus prior year:

• Consolidated sales increased 15% to $604 million, a first-quarter record
  • Operating profit and operating margin were also all-time first-quarter records
• Retail segment sales increased 30% to $236 million, an all-time quarterly record
  • Operating profit and operating margin were also all-time quarterly records
• Joybird written sales increased 12%

La-Z-Boy Announces Fiscal 2023 First-Quarter Conference Call

August 15, 2022

La-⁠Z-⁠Boy Incorporated (NYSE: LZB), will report its fiscal 2023 first-quarter results after the close of trading on the New York Stock Exchange on Tuesday, August 23, 2022, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, August 24, 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 499409.

La-Z-Boy Incorporated Publishes Inaugural ESG Report

July 20, 2022

La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today published its inaugural Environmental, Social and Governance (ESG) report. The report shares how La-⁠Z-⁠Boy Incorporated’s continued investments into sustainable products, a healthy planet, and a values-based culture is driving results for customers, consumers, employees, shareholders, and the world at large.

Melinda Whittington, President and CEO of La-Z Boy Incorporated said, “For nearly 100 years, La-⁠Z-⁠Boy Incorporated has delivered quality and comfort to families around the world. As we build the La-⁠Z-⁠Boy of tomorrow, our goal is to make the world a better place through the transformational power of comfort. This means we embrace curiosity for sustainable design, operate with compassion for a sustainable planet, and empower courage for a sustainable culture, leveraging our core values.”

La-Z-Boy Finalizes Previously Announced Newton, MS Facility Closure

July 18, 2022

La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that it is finalizing the planned closure of its Newton, Mississippi upholstery manufacturing facility, expected to be effective September 16, 2022. In June 2020, the company announced that it would close the Newton facility as part of its plan to strengthen and re-align the business to thrive in what was a new external environment marked by COVID-19. However, with stronger-than-expected demand ensuing immediately thereafter, the company temporarily re-activated a portion of the Newton facility in October 2020. Over the past two years, La-⁠Z-⁠Boy has added capacity to its manufacturing footprint and rebalanced production across more than 5 million square feet of North American manufacturing space to leverage efficiencies and manage its backlog.

La-Z-Boy Reports Record Sales and Operating Income for the Fiscal 2022 Fourth Quarter and Full Year

June 21, 2022

La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported record sales and operating income for the fiscal 2022 fourth quarter and full year ended April 30, 2022.

Fiscal 2022 full year versus Fiscal 2021 full year:

• Consolidated sales increased 36% to a record $2.4 billion
  • +33% adjusting for the 53^rd week in fiscal 2022
• Retail segment sales increased 31% to $804 million
  • Record sales, operating profit, and operating margin
• Joybird sales increased 62% to a record $176 million
  • Written sales for Joybird increased 27%
• Consolidated operating margin:
  • GAAP: 8.8% versus 7.9%
  • Non-GAAP⁽¹⁾: 8.1% versus 9.0%
• Net income attributable to La-Z-Boy Incorporated per diluted share (“EPS”):
  • GAAP: $3.39 versus $2.30
  • Non-GAAP⁽¹⁾: $3.11 versus $2.62
• $118 million returned to shareholders through share repurchases and dividends

Carol Y. Lee Joins La-Z-Boy Incorporated as Chief Information Officer

June 14, 2022

La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Carol Y. Lee will join the company as Vice President and Chief Information Officer, effective June 20, 2022, and will report to CEO Melinda D. Whittington.

In this role, Lee will serve as the chief architect of the company’s enterprise-wide Information Technology strategy, including the design, development and support of IT systems and programs, cybersecurity and other risk management, network optimization, ERP deployment, and infrastructure and operations support. She will lead a team of approximately 100 individuals and will ensure the company’s IT strategy and execution align with La⁠-⁠Z⁠-⁠Boy Incorporated’s business objectives and support its Century Vision growth strategy.

La-Z-Boy Announces Fiscal 2022 Fourth-Quarter and Full-Year Conference Call

June 7, 2022

La-⁠Z-⁠Boy Incorporated (NYSE: LZB), will report its fiscal 2022 fourth-quarter and full-year results after the close of trading on the New York Stock Exchange on Tuesday, June 21, 2022, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, June 22, 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 546693.

The call will be webcast live, with corresponding slides, and archived on the Internet. It will be available at https://lazboy.gcs-web.com/, and will be accessible for one year. A telephone replay will be available for one week following the call. This replay will be accessible to callers from the U.S. and Canada at (877) 481-4010 and to international callers at (919) 882-2331. Enter Conference ID 45734.

La-⁠Z-⁠Boy Declares Quarterly Dividend

May 3, 2022

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 $0.165 per share. The dividend is payable June 15, 2022 to shareholders of record as of June 2, 2022.

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/.

La-Z-Boy Announces Planned Retirement of Darrell Edwards, COO

Names Mike Leggett SVP and Chief Supply Chain Officer

March 2, 2022

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced the planned retirement of Darrell Edwards, SVP and Chief Operating Officer. Mike Leggett will be promoted to Senior Vice President and Chief Supply Chain Officer, assuming Edwards’ responsibilities, at the beginning of May 2022, the start of the company’s fiscal 2023 year. Edwards will remain with the company through July 2022 in an advisory role.

La-Z-Boy to Present at Raymond James 43rd Annual Institutional Investors Conference

February 28, 2022

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 43rd Annual Institutional Investors Conference, on March 7, 2022, at 3:25 p.m. Eastern. The presentation will be webcast live and archived for one year. It will be available at https://lazboy.gcs-web.com/.

La-⁠Z-⁠Boy Reports 22% Sales Increase for the Fiscal 2022 Third Quarter

Demand Trends Remain Strong

February 15, 2022

La-⁠Z-⁠Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported operating results for the fiscal 2022 third quarter ended January 22, 2022.

Fiscal 2022 third quarter versus Fiscal 2021 third quarter:

• Consolidated sales increased 22% to $572 million
• Retail segment posted record sales and operating profit
• Strong written order trends
• Written same-store sales for the La-⁠Z-⁠Boy Furniture Galleries^® network increased 3%
• Written sales for Joybird increased 27%
• Consolidated operating margin:
• GAAP: 6.9% versus 7.3%
• Non-GAAP⁽¹⁾: 7.0% versus 9.5%
• Net income attributable to La-⁠Z-⁠Boy Incorporated per diluted share (“EPS”):
• GAAP: $0.65 versus $0.62
• Non-GAAP⁽¹⁾: $0.65 versus $0.74
• $32 million returned to shareholders through share repurchases and dividends in FY22 Q3

La-Z-Boy Announces Fiscal 2022 Third-Quarter Conference Call

February 3, 2022

La-Z-Boy Incorporated (NYSE: LZB) will report its fiscal 2022 third-quarter results after the close of trading on the New York Stock Exchange on Tuesday, February 15, 2022, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, February 16, 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 206517.

La-Z-Boy Reports Record Sales for the Fiscal 2022 Second Quarter and Sequential Operating Margin Improvement

November 16, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported operating results for the fiscal 2022 second quarter ended October 23, 2021.

Fiscal 2022 second quarter versus Fiscal 2021 second quarter:

• Consolidated sales increased 25% to $576 million
• Strong written order trends versus pre-pandemic FY20 Q2
• Consolidated operating margin:
• GAAP: 9.4% versus 10.4%
• Non-GAAP⁽¹⁾: 9.0% versus 11.1%
• Improved sequentially versus 6.6% in the fiscal 2022 first quarter

La-Z-Boy Announces Fiscal 2022 Second-Quarter Conference Call

November 2, 2021

La-Z-Boy Incorporated (NYSE: LZB) will report its fiscal 2022 second-quarter results after the close of trading on the New York Stock Exchange on Tuesday, November 16, 2021, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, November 17, 2021.

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 206517.

La-Z-Boy Appoints Erika Alexander to Board of Directors

October 26, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Erika Alexander has been named to its Board of Directors, effective October 25, 2021. The appointment brings the Board to 12 members.

Erika Alexander serves as the Chief Global Officer, Global Operations for Marriott International. In this role, she is responsible for Marriott’s enterprise-wide programs and platforms, such as Quality Assurance, Food & Beverage, Hotel Systems Optimization, Procurement, Sustainability, and Supplier Diversity. Prior to her current role, Ms. Alexander was Chief Lodging Services Officer for The Americas division. She has held a variety of senior leadership roles throughout Marriott, including Area Vice President of Americas - Eastern Region, Account Manager and Director of Sales, as well as a Director of Operations and Hotel General Manager.

La-Z-Boy to Present at Sidoti Conference

September 15, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Melinda Whittington, President and Chief Executive Officer, and Bob Lucian, Chief Financial Officer, will present at the Sidoti Fall Virtual Investor Conference on Wednesday, September 22, 2021, at 8:30 a.m. Eastern. The presentation will be webcast live and will be available at: https://sidoti.zoom.us/webinar/register/WN_FlMRkAeNQ8GqwnC_rutJqQ.

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 Securities and Exchange Commission (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/.

La-Z-Boy to Present at Raymond James Consumer Conference

September 8, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Melinda Whittington, President and Chief Executive Officer, and Bob Lucien, Chief Financial Officer, will present at the virtual Raymond James Consumer Conference on Tuesday, September 14, 2021, at 2:20 p.m. Eastern. The presentation will be webcast live and archived for one year. It will be available at https://kvgo.com/rj-consumer-2021/la-z-boy-inc-sept.

La-Z-Boy Reports Record Sales for Fiscal 2022 First Quarter

August 17, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported operating results for the fiscal 2022 first quarter ended July 24, 2021.

Fiscal 2022 first quarter* versus Fiscal 2021 first quarter:

• Consolidated sales increased 84% to $524.8 million
• Strong written order trends:
• Written same-store sales in the company-owned Retail segment increased 22%
• Written sales for Joybird increased 31%
• Consolidated operating margin:
• GAAP: 6.5% versus 1.5%
• Non-GAAP⁽¹⁾: 6.6% versus 3.1%
• Net income attributable to La-Z-Boy Incorporated per diluted share (“EPS”):
• GAAP: $0.54 versus $0.10
• Non-GAAP⁽¹⁾: $0.55 versus $0.18
• $42 million to shareholders through share repurchases and dividends

La-Z-Boy Announces Fiscal 2022 First-Quarter Conference Call

August 3, 2021

La-Z-Boy Incorporated (NYSE: LZB) will report its fiscal 2022 first-quarter results after the close of trading on the New York Stock Exchange on Tuesday, August 17, 2021, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, August 18, 2021.

The dial-in phone number for the live conference call will be (844) 369-8770 for persons calling from within the U.S. or Canada, and the number for international callers will be (862) 298-0840.

LA-Z-BOY to Invest in Neosho, MO Manufacturing Campus

July 26, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced it plans to invest more than $30 million over a two-year period in its Neosho, MO manufacturing facility. The 550,000 square-foot plant, which began operations in 1970 and employs approximately 950 people, makes reclining motion furniture and supports all La-Z-Boy manufacturing operations with metal components and purchased parts.

The scope of the project includes various upgrades and renovations throughout the upholstery plant, a new medical clinic for employees and their families, and a new parts distribution center.

La-Z-Boy Reports Fiscal 2021 Fourth-quarter and Full-year Results

June 16, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported strong operating results for the fiscal 2021 fourth quarter and full year ended April 24, 2021.

Fiscal 2021 fourth quarter versus Fiscal 2020 fourth quarter:

• Consolidated sales increased 41% to $519.5 million
• Written same-store sales for the entire La-Z-Boy Furniture Galleries® network doubled, increasing 100%
• Consolidated operating margin:
• GAAP: 9.6% versus 3.7%
• Non-GAAP(1): 10.0% versus 9.3%
• Wholesale(2): 10.2% versus 11.1%
• Retail: 12.2% versus 10.8%
• Net income attributable to La-Z-Boy Incorporated per diluted share (“EPS”):
• GAAP: $0.81 versus $0.05
• Non-GAAP(1): $0.87 versus $0.49
• The company returned $50 million to shareholders through share repurchases and dividends

La-Z-Boy Announces Fiscal 2021 Fourth-Quarter and Full-Year Conference Call

June 2, 2021

La-Z-Boy Incorporated (NYSE: LZB) will report its fiscal 2021 fourth-quarter and full-year results after the close of trading on the New York Stock Exchange on Tuesday, June 15, 2021, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, June 16, 2021.

The dial-in phone number for the live conference call will be (844) 602-0380 for persons calling from within the U.S. or Canada, and the number for international callers will be (862) 298-0970.

The call will be webcast live, with corresponding slides, and archived on the Internet. It will be available at https://lazboy.gcs-web.com/, and will be accessible for one year. A telephone replay will be available for one week following the call. This replay will be accessible to callers from the U.S. and Canada at (877) 481-4010 and to international callers at (919) 882-2331. Enter Conference ID #41347.

La-Z-Boy Declares Quarterly Dividend

May 4, 2021

Directors of La-Z-Boy Incorporated (NYSE: LZB) declared a quarterly cash dividend on the company’s common stock of $0.15 per share. The dividend is payableJune 15, 2021, to shareholders of record as of June 1, 2021.

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 Securities and Exchange Commission, 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/.

La-Z-Boy Signs Long-term Renewable Energy Deal

April 21, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, has finalized a 10-year resource-backed virtual power purchase agreement (VPPA), extending through the end of 2030, with AEP Energy Partners, a competitive energy subsidiary of American Electric Power (Nasdaq: AEP). The agreement signifies a meaningful initiative as La-Z-Boy expands its environmental programs in its quest to reduce its carbon footprint. La-Z-Boy’s VPPA will support approximately 70,000 MWh of renewable energy per year, from AEP’s principally owned Santa Rita East wind energy center in Irion County, Texas, throughout the term of the agreement. Once fully implemented, La-Z-Boy will receive renewable energy certificates (REC) equivalent to roughly 16 MW of wind power capacity representing more than 90% of La-Z-Boy’s current total annual domestic energy consumption.

La-Z-Boy to Present at Sidoti Virtual Investor Conference

March 16, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Kurt Darrow, Chairman, President and Chief Executive Officer, Melinda Whittington, Chief Financial Officer, and Bob Lucian, VP, Finance, will present at the Sidoti & Company LLC Virtual Investor Conference, on Wednesday, March 24, 2021, at 10:00 a.m. Eastern. The presentation will be webcast live and archived for one year. It will be available at https://lazboy.gcs-web.com/.

La-Z-Boy to Present at Raymond James 42nd Annual Institutional Investors Conference

February 22, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Kurt Darrow, Chairman, President and Chief Executive Officer, and Melinda Whittington, Chief Financial Officer, will present at the virtual Raymond James 42nd Annual Institutional Investors Conference, on March 1, 2021, at 10:50 a.m. Eastern. The presentation will be webcast live and archived for one year. It will be available at https://lazboy.gcs-web.com/.

La-Z-Boy Announces Changes to Legal and Finance Teams

February 18, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Raphael Richmond, Senior Director of Corporate Compliance and Employment Law, will succeed Stephen K. Krull as Vice President and General Counsel, effective April 25, 2021, concurrent with the company’s new fiscal year. She will also hold the role of Chief Compliance Officer. In a related move, Uzma Ahmad, Senior Director of Corporate Law and Assistant Secretary, has been appointed Vice President, Deputy General Counsel and Corporate Secretary, also effective on April 25, 2021. Krull previously announced his retirement and will work with Richmond and Ahmad to ensure a smooth transition.

As the Company’s General Counsel and Chief Compliance Officer, Richmond will be La-Z-Boy’s chief legal officer, responsible for managing the overall legal and compliance functions for the company. Ahmad will be responsible for corporate and securities law for the company, reporting to Richmond, while also working closely with the La-Z-Boy Board of Directors on corporate governance matters.

La-Z-Boy Announces Kurt Darrow to Retire as Ceo; Will Remain Chairman of the Board

February 16, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that Kurt L. Darrow will retire from his positions as President and Chief Executive Officer (“CEO”) on April 25, 2021, after more than 40 years of service to the company. His retirement follows the end of La-Z-Boy’s fiscal 2021 year. He will remain Chairman of the Board of Directors, in a non-executive capacity.

Reflecting the company’s long-standing commitment to thoughtful succession planning, Melinda D. Whittington, Chief Financial Officer (“CFO”), was unanimously appointed by the Board to serve as President and CEO of La-Z-Boy Incorporated. Robert (“Bob”) G. Lucian, Vice President, Finance, will succeed Whittington in the role of CFO. In addition, Whittington was elected to serve on the Board of Directors, effective April 25, 2021.

La-Z-Boy Reports Solid Fiscal 2021 Third-quarter Results

February 16, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported strong operating results for the fiscal 2021 third quarter ended January 23, 2021.

Fiscal 2021 third quarter versus Fiscal 2020 third quarter:

• Consolidated sales decreased 1.2% to $470.2 million
• Written same-store sales for the entire La-Z-Boy Furniture Galleries® network increased 6.3%, with strong acceleration in January
• Consolidated operating margin:
• GAAP: 7.3% versus 11.0%
• Non-GAAP(1): 9.5% versus 9.4%
• Wholesale(2): 10.2% versus 11.1%
• Retail: 8.9% versus 9.8%
• Net income attributable to La-Z-Boy Incorporated per diluted share (“EPS”):
• GAAP: $0.62 versus $0.74
• Non-GAAP(1): $0.74 versus $0.72
• Strong cash generation, with fiscal year-to-date cash from operating activities of $250 million
• Cash(3) more than doubled to $393 million at quarter end
• The company returned $7.4 million to shareholders through share repurchases and dividends during the quarter

La-Z-Boy Appoints James P. Hackett to Board of Directors

February 11, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced that James P. Hackett has been named to its Board of Directors, effective immediately. He will serve on the Audit Committee and Nominating and Governance Committee. The appointment expands the Board to 10 members.

Hackett serves as a Special Advisor to Ford Motor Company and was President and Chief Executive Officer of the company from 2017 through 2020. Under his leadership, Ford moved aggressively into the new era of smart vehicles. At the same time, Hackett strengthened the company’s base business by restructuring operations and invigorating the product portfolio. Before serving as CEO, Hackett was Chairman of Ford Smart Mobility LLC, a subsidiary of Ford. He also served on Ford’s Board from 2013 through 2020.

La-Z-Boy Provides Business Update for Fiscal 2021 Q3

January 28, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today provided insights regarding business trends for the fiscal 2021 third quarter.

Kurt L. Darrow, Chairman, President and Chief Executive Officer of La-Z-Boy Incorporated, said, “While third-quarter results are not yet finalized, written trends for January remain positive as consumer demand for home furnishings continues unabated.” Business highlights include:

• Wholesale backlog across the enterprise increased by more than 20% in the fiscal 2021 third quarter from the fiscal 2021 second quarter
• Written same-store sales for the La-Z-Boy Furniture Galleries® network increased 19% fiscal year to date through December versus the prior-year period and continued to trend positively in January
• Written sales for Joybird increased by more than 75% in the fiscal 2021 third quarter versus the prior-year period

La-Z-Boy Appoints Robert Sundy as Chief Commercial Officer

January 11, 2021

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced the appointment of Robert Sundy as Senior Vice President and Chief Commercial Officer, effective January 27, 2021. In this capacity, he will report to Kurt L. Darrow, Chairman, President and Chief Executive Officer of La-Z-Boy Incorporated, and will have responsibility for all facets of sales, merchandising and marketing for the La-Z-Boy branded business in North America.

Darrow said, “We are thrilled to welcome Rob to the La-Z-Boy Leadership Team. He brings to the company more than 20 years of marketing and general management expertise with a proven track record of developing innovative strategies to build and strengthen brands. Rob will play a pivotal role in further refining the company’s consumer focus and omni-channel strategy, leading strategic initiatives to drive the commercial success of the organization for the long term. He is a high-caliber individual who will contribute greatly to our company.”

La-Z-Boy Announces Planned Retirement of General Counsel

December 10, 2020

La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced the planned retirement of Stephen Krull, Vice President, General Counsel and Secretary, effective August 31, 2021.

Kurt L. Darrow, Chairman, President and Chief Executive Officer of La-Z-Boy Incorporated, said, “We have been fortunate to have an executive of Steve’s caliber on our team. He has served the company well in numerous capacities, including the challenges associated with navigating our way through the COVID-19 environment and working with me throughout the pandemic on important advocacy efforts to benefit the furniture industry. Additionally, during Steve’s tenure, he built a strong and highly capable legal team within the company and has worked well with our Board of Directors. Steve is well respected throughout the entire La-Z-Boy organization and will be missed by all. We wish him all the best in his well-deserved retirement.”

La-Z-Boy CEO Kurt Darrow to be inducted into the American Home Furnishings Hall of Fame

June 22, 2018

The American Home Furnishings Hall of Fame Foundation announced yesterday, Kurt L. Darrow, Chairman, President and CEO of La-Z-Boy Incorporated, will be one of four furniture industry executives inducted into the American Home Furnishings Hall of Fame on October 14, 2018, during the High Point Market. Darrow has spent close to four decades with La-Z-Boy, leading the company as the visionary architect behind multiple transformations and positioning the brand as a marketplace leader.

La-Z-Boy opens its 350th retail location

November 28, 2017

La-Z-Boy today announced the milestone opening of its 350th retail location, a La-Z-Boy Home Furnishings & Décor in Rockford, Illinois. The store occupies over 13,000 square feet and boasts a remarkable selection of great looking furniture for the entire home.

The Rockford store is representative of the company’s award-winning design concept. These locations have the highest average volume per store of the company’s existing formats. La-Z-Boy began opening its award-winning design concept stores in 2011.

Revolutionary new duo by La-Z-Boy Furniture bridges style and comfort

April 21, 2017

La-Z-Boy announced today the release of Duo, a revolutionary new product line that features the sophisticated look of stationary furniture with the unexpected power to recline at the push of a button.

“When developing Duo, our goal was to bring the great look of a stationary sofa together with the comfort of a motion piece,” said Gregg Schweir, vice president of research and development for La-Z-Boy. “Today, most reclining furniture has a distinct look, and we rose above that stereotype by creating a beautiful reclining sofa that was not limited by styling options.”

La-Z-Boy celebrates 90 years of American made comfort

March 24, 2017

La-Z-Boy is celebrating its milestone 90th anniversary today with more than 6,300 employees nationwide, spanning its corporate headquarters in Michigan, five U.S. manufacturing plants, six U.S. distribution centers, and 142 corporate-owned La-Z-Boy Furniture Galleries stores (an additional 204 store locations are dealer owned).

Ninety years ago, cousins Edward M. Knabusch and Edwin J. Shoemaker built a game-changing piece of furniture in Monroe, Mich., with the goal of providing lasting comfort. Their hard work evolved into a true American success story and a brand that has become a household name.

La-Z-Boy announces new iClean™ stain-repelling fabric

August 23, 2016

La-Z-Boy is excited to introduce iClean™, its new and innovative stain-repelling fabric. iClean™ is a high-performance fabric that incorporates safe, sophisticated chemistry to protect and surround each fiber, repelling spills before they turn into stains. Everyday spills are now protected with iClean™, including coffee, wine, salsa, dirt, chocolate and more.

So how does it work? iClean™ fabrics are completely immersed in a stain resistant solution assuring every single fiber has been treated. This process leaves a concentrated barrier of protection while still keeping the touch soft and luxurious.

La-Z-Boy opens 100th new design concept store

September 8, 2016

La-Z-Boy today announced the milestone opening of its 100th new concept store in Prescott Valley, Arizona. These locations have the highest average volume per store of the company’s existing formats, generating approximately $4.2 million per year. La-Z-Boy began opening its award-winning design concept stores in 2011.

“When you introduce somebody to your product you want them to get excited, but also feel like they understand your brand,” said Mark Bacon, President, La-Z-Boy Branded Business. “Our new concept stores allow us to do that, keeping customers engaged in the store longer and helping improve sales.”

La-Z-Boy introduces rechargeable batteries for power recliners

April 14, 2016

People who want the luxury of a power recliner but don’t like the look of the power cord, or have challenges placing furniture near a power outlet, now have a solution. La-Z-Boy is pleased to unveil its newest technological advancement, a rechargeable lithium-ion battery pack. This new innovation, which is being introduced at the High Point Furniture Market, has the ability to power your recliner for approximately one week before needing to be recharged. It provides a wireless power option that allows for carefree operation and the flexibility to place power reclining furniture anywhere in a room, without the need to be plugged into a wall outlet.

“La-Z-Boy continues to lead the way in innovation, exploring ways to further enhance our products so consumers can Live Life Comfortably,” said Paula Hoyas, Vice President Merchandising for La-Z-Boy. “We know our customers love the power options we offer, and now, they can have them free from the constraints of the ‘corded’ power supply.”

La-Z-Boy manufacturing facility breaks furniture industry safety record

April 12, 2016

La-Z-Boy, a leader in the residential furniture industry, announced today that its Dayton, Tenn. manufacturing facility has broken the American Home Furnishings Alliance (AHFA) safety record after working over 6.8 million production hours without experiencing an Occupational Safety and Health Administration (OSHA) recordable lost-time case. This is a new record for La-Z-Boy, who also set the previous record with over 6.4 million hours in 2004.

Top La-Z-Boy Account Executives inducted into company's summit club

February 3, 2016

La-Z-Boy, one of the nation’s leading manufacturers of upholstered furniture, inducted members into the company’s Summit Club, an honor for its top Account Executives. The inductees accepted awards during a ceremony held at the International Home Furnishings Market in High Point, North Carolina.

The 2015 Patrick H. Norton Award for Sales Excellence, a prestigious honor named after Norton, former chairman of the board, to recognize achievement, was presented to Christy Means, an Account Executive in Missouri and Arkansas. Means has been with La-Z-Boy since 2005 and is also a third-time Summit Club honoree.

La-Z-Boy World Headquarters awarded LEED Silver Certification by U.S. Green Building Council

September 17, 2015

La-Z-Boy is pleased to announce today that it has been awarded LEED Silver Certification for its new World Headquarters. The LEED rating system, developed by the U.S. Green Building Council (USGBC), is the foremost program for buildings, homes and communities that are designed, constructed, maintained and operated for improved environmental and human health performance.

The 200,000-square-foot World Headquarters was completed in March 2015 in partnership with design/build contractor Rudolph/Libbe Inc. of the Rudolph Libbe Group. The building – which was built to the latest energy-efficient standards – features a three-story, glassed-in lobby with an oak savannah view and natural lighting. The building occupies about 40 acres of a total 120; the remaining 80 acres, which include an endangered oak savanna ecosystem, have been left untouched as a nature preserve.

La-Z-Boy helps moms #TakeComfort through special day of community, sharing and back-to-school surprises

September 8, 2015

La-Z-Boy is celebrating mothers across the U.S. and Canada today by recognizing the ups – and downs – that go along with getting their children back-to-school. By creating a community of parents who can share their stories of the chaos, they can #TakeComfort in knowing they are not alone. Many moms spend countless hours getting ready for the big day, from purchasing school supplies to new clothes, and yet despite all their efforts and meticulous preparation, the inevitable happens and the day doesn’t go according to plan. Someone sleeps past the alarm, orange juice spills on that new shirt …it’s a total #MomFail.

The bright side of any #MomFail is the enduring sense of camaraderie among parents – and every mom who has been there, done that. Not to mention all of the funny stories that get shared with friends and family, and passed down through the ages.

La-Z-Boy unveils new world headquarters

June 5, 2015

In a move that demonstrates the next step in the brand's evolution, La-Z-Boy recently opened its fresh, new-from-the-ground-up World Headquarters in Monroe, Mich. with a breathtaking design that captures the iconic brands sleek new style.

The 200,000-square-foot, three-story facility features an open floor plan and flexible workspace, designed to help foster greater collaboration, innovation and creativity. Throughout the headquarters, a large variety of working and gathering spaces are available to employees to provide maximum flexibility for every working situation from treadmill desks to rooftop patios.

La-Z-Boy store opens in Timonium

May 24, 2014

Local furniture shoppers will be surprised to see what La-Z-Boy has in store for Timonium residents.  The iconic furniture company is holding a grand opening celebration of its award-winning new store design, featuring a shopping experience as comfortable as its famous furniture. The new store – located in Timonium which occupies over 15,000-square-feet– boasts a remarkable selection of great looking furniture for the entire home, all presented in inspiring room displays organized by lifestyle. The store represents a new design format for La-Z-Boy, and truly embodies the “Live life comfortably SM” tagline.

La-Z-Boy store reopens in Rockville

May 24, 2014

Local furniture shoppers will be surprised to see what La-Z-Boy has in store for Rockville residents.  The iconic furniture company will hold a grand opening of its award-winning new store design, featuring a shopping experience as comfortable as its famous furniture. The newly remodeled store – located in Rockville which occupies just over 17,000-square-feet– boasts a remarkable selection of great looking furniture for the entire home, all presented in inspiring room displays organized by lifestyle. The store represents a new design format for La-Z-Boy, and truly embodies the “Live life comfortably SM” tagline.

La-Z-Boy store opens in Edina

November 22, 2014

Local furniture shoppers will be surprised to see what La-Z-Boy has in store for Edina residents. The iconic furniture company will celebrate the grand opening of its award-winning new store design on December 6th. The new store – located at 7595 South France Avenue – occupies over 17,000-square-feet and boasts a remarkable selection of great looking furniture for the entire home, all presented in inspiring room displays organized by lifestyle. The store represents a new design format for La-Z-Boy, and truly embodies the “ Live life comfortably SM” tagline.

La-Z-Boy Furniture Galleries sales associates and in-home designers recognized for achievements

April 25, 2014

La-Z-Boy recently announced the recipients of its Pinnacle Awards during a ceremony at the April Market in High Point, N.C. The award recognizes the top-selling sales associates and highest-achieving in-home designers in the La-Z-Boy Furniture Galleries network. “Our Pinnacle Awards truly acknowledge our associates’ commitment to helping bring our brand to life in the area of consumer experience,” said Mark Bacon, President of La-Z-Boy Branded Business.

La-Z-Boy Furniture Galleries stores recognized during High Point Furniture Market for achievements

April 25, 2014

La-Z-Boy recognized the owners and operators of its top performing La-Z-Boy Furniture Galleries locations at an awards ceremony held during the recent High Point Furniture Market.

“La-Z-Boy’s position as the most recognized home furnishings brand is solidified by the dedication and hard-work of our stores,” said Mark Bacon, president of La-Z-Boy Branded Business.  “Once a year at this special ceremony we reflect on the stores’ great accomplishments and applaud them for their commitment to our brand.”

La-Z-Boy infuses enhancements & more power into its reclining collection

April 23, 2014

At High Point Market 2014, La-Z-Boy will unveil a technological advancement enhancing the recline position in wall proximity products while offering the option to upgrade to power recline for ultimate comfort. The redesigned Reclina-Way mechanism features extended travel, increased legrest elevation, improved stability with quieter operation and more. The improvements land La-ZBoy with a fully-loaded reclining product line, all available with power.

La-Z-Boy expands on style, comfort with new additions to its most-popular collections

September 17, 2014

With the introduction of the Urban Attitudes collection at High Point Market last October, La-Z-Boy’s commitment to sophisticated, modern offerings has never been more apparent. La-Z-Boy is building on its momentum with the addition of 10 new products across its line, including its Urban Attitudes and Designer’s Choice collections, all while staying true to its history as a company rooted in comfort and quality for more than 85 years.