La-Z-Boy Incorporated has made an important announcement, appointing Matt Baer, the CEO of Stitch Fix, to its board of directors, effective January 1, 2025. This move will expand the board to 11 members. Mr. Baer's extensive retail leadership experience, particularly in driving transformations and innovation, makes him a valuable addition to the company's board.
His appointment reflects the company's commitment to bringing fresh perspectives during a transformative period. La-Z-Boy's President and CEO, Melinda Whittington, expressed confidence in Mr. Baer's impact as the company continues to execute its century vision growth strategy, positioning La-Z-Boy Incorporated for the future.
It's worth noting that Mr. Baer has a background in growing digital businesses, having previously served as the Chief Customer and Digital Officer at Macy’s and as the Vice President of E-commerce at Walmart.com, where he played a crucial role in the transformation and scale of Walmart’s digital business.
In terms of the company's financial performance, as of the last reported period, La-Z-Boy Incorporated operates around 190 company-owned La-Z-Boy Furniture Galleries® stores and a broader network of over 350 La-Z-Boy Furniture Galleries®, along with an e-commerce platform. Additionally, Joybird®, an e-commerce retailer and manufacturer of modern upholstered furniture, has 12 stores in the U.S.
The wholesale segment of the company manufactures comfortable, custom furniture for its furniture galleries® and various retail channels. England Furniture Co. offers custom upholstered furniture, while casegoods brands Kincaid®, American Drew®, and Hammary® provide pieces that make every room feel like home.
This news comes at a crucial time for the company, and it will be interesting to see how Mr. Baer's appointment will influence La-Z-Boy's future strategy and performance. Today the company's shares have moved 0.8% to a price of $42.9. If you want to know more, read the company's complete 8-K report here.
