La-Z-Boy Releases 10-Q Report, Shares Drop 2.4%

By Tamara Parker • Wednesday, August 21 07:56 • Permanent Link

La-Z-Boy Incorporated has recently released its 10-Q report, providing a comprehensive overview of its financial performance and operations. La-Z-Boy is a leading global producer of reclining chairs and one of the largest manufacturer/distributors of residential furniture in the United States. The company operates through Wholesale and Retail segments, manufacturing, marketing, importing, exporting, distributing, and retailing upholstery furniture products under various brand names including La-Z-Boy, England, Kincaid, and Joybird.

In the 10-Q, La-Z-Boy's management discusses the company's key businesses, results of operations, liquidity and capital resources, and critical accounting policies. The report also includes a cautionary note regarding forward-looking statements, emphasizing the uncertainties and risks that may affect the company's future performance.

The company's strategic plan, known as the Century Vision, aims to drive growth and strengthen operating margins by expanding the reach of its consumer brands, including La-Z-Boy and Joybird. This involves leveraging the company's connection to comfort, reinvigorating its brand with a consumer focus, and enhancing its omni-channel presence. Additionally, La-Z-Boy seeks to profitably grow the Joybird brand with a digital-first consumer experience and enhance its enterprise capabilities to support growth and potential acquisitions.

La-Z-Boy's reportable operating segments include the Retail segment, which consists of the company-owned La-Z-Boy Furniture Galleries stores, and the Wholesale segment, which includes several operating segments such as La-Z-Boy, England, and the international operating segment. The report also outlines the company's financial results, with consolidated sales increasing by 3% in the first quarter of fiscal 2025 compared to the same period a year ago. However, the operating margin decreased by 70 basis points during the same period.

Today the company's shares have moved -2.4% to a price of $41.87. Check out the company's full 10-Q submission here.

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