US Market News
1日前
La-Z-Boy Incorporated Announces Timing of Fiscal 2026 Fourth Quarter and Full Year Earnings Release and Conference CallJune 2, 2026 9:39 AM
PR Newswire (US) MONROE, Mich., June 2, 2026 /PRNewswire/ -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, will report its Fiscal 2026 Fourth Quarter and Full Year results for the period ended April 25, 2026 after the close of trading on the New York Stock Exchange on Tuesday, June 16, 2026, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, June 17, 2026. The conference call will be webcast live with corresponding slides at https://lazboy.gcs-web.com/. 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 106726.The conference call will be archived on the internet and accessible for one year. A telephone replay will be available for two weeks 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. The replay passcode is 54076.About La-Z-Boy:
La-Z-Boy Incorporated (NYSE: LZB) is a leading vertically integrated retailer and manufacturer of high-quality, custom furniture that transforms the home. Founded on American heritage, the iconic La-Z-Boy brand has been synonymous with comfort, quality, and craftsmanship for nearly 100 years. As an end-to-end enterprise, the company manages every aspect of its business—from retail, manufacturing, and design to distribution and after-service care.La-Z-Boy Incorporated brings timeless and modern furniture to life through a retail network of over 370 La-Z-Boy stores, including 226 company-owned locations, and its digital platform at La-Z-Boy.com. Within the Wholesale segment, the company manufactures comfortable, high quality, custom furniture, with approximately 90% of its products produced in North America. Its Joybird® brand is an omnichannel retailer and manufacturer of modern, custom upholstered furniture, operating 15 U.S. stores. With a global team of about 11,000 employees, La-Z-Boy Incorporated was named to TIME's 2026 list of America's Most Iconic Companies and Newsweek's 2025 list of America's Best Retailers, ranking No. 1 in the furniture category. The company continues to shape the way people live by delivering the transformational power of comfort. View original content to download multimedia:https://www.prnewswire.com/news-releases/la-z-boy-incorporated-announces-timing-of-fiscal-2026-fourth-quarter-and-full-year-earnings-release-and-conference-call-302788644.htmlSOURCE La-Z-Boy Incorporated Original: La-Z-Boy Incorporated Announces Timing of Fiscal 2026 Fourth Quarter and Full Year Earnings Release and Conference Call
US Market News
2日前
La-Z-Boy Incorporated Completes Sale of American Drew and Kincaid Wholesale Casegoods BusinessesJune 1, 2026 4:15 PM
PR Newswire (US) MONROE, Mich., June 1, 2026 /PRNewswire/ -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, completed the sale of its previously announced American Drew and Kincaid wholesale casegoods businesses to Banner House (formerly Magnussen Home Furnishings, Inc.), a multi-branded portfolio of home furniture. This portfolio optimization will enable La-Z-Boy Incorporated to focus on its core, vertically integrated North American upholstery business and drive its Century Vision strategy. La-Z-Boy stores, Comfort Studios, and Branded Spaces will continue to offer casegoods products to their consumers. These changes will enhance offerings in the future, opening up broader sourcing and driving efficiency in the process. About La-Z-Boy:
La-Z-Boy Incorporated (NYSE: LZB) is a leading vertically integrated retailer and manufacturer of high-quality, custom furniture that transforms the home. Founded on American heritage, the iconic La-Z-Boy brand has been synonymous with comfort, quality, and craftsmanship for nearly 100 years. As an end-to-end enterprise, the company manages every aspect of its business—from retail, manufacturing, and design to distribution and after-service care.La-Z-Boy Incorporated brings timeless and modern furniture to life through a retail network of over 370 La-Z-Boy stores, including 226 company-owned locations, and its digital platform at La-Z-Boy.com. Within the Wholesale segment, the company manufactures comfortable, high quality, custom furniture, with approximately 90% of its products produced in North America. Its Joybird® brand is an omnichannel retailer and manufacturer of modern, custom upholstered furniture, operating 15 U.S. stores. With a global team of about 11,000 employees, La-Z-Boy Incorporated was named to TIME's 2026 list of America's Most Iconic Companies and Newsweek's 2025 list of America's Best Retailers, ranking No. 1 in the furniture category. The company continues to shape the way people live by delivering the transformational power of comfort.Cautionary Note Regarding Forward-Looking Statements:
This news release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. Generally, forward-looking statements include information concerning expectations, projections or trends relating to our results of operations, financial results, financial condition, strategic initiatives and plans, acquisitions, expenses, dividends, share repurchases, liquidity, use of cash and cash requirements, borrowing capacity, investments, future economic performance, and our business and industry.The forward-looking statements in this press release are based on certain assumptions and currently available information and are subject to various risks and uncertainties, many of which are unforeseeable and beyond our control. Additional risks and uncertainties that we do not presently know about or that we currently consider to be immaterial may also affect our business operations and financial results. Our actual future results and trends may differ materially depending on a variety of factors, including, but not limited to, the risks and uncertainties discussed in our Fiscal 2025 Annual Report on Form 10-K and other factors identified in our reports filed with the Securities and Exchange Commission (the "SEC"), available on the SEC's website at www.sec.gov. Given these risks and uncertainties, you should not rely on forward-looking statements as a prediction of actual results. We are including this cautionary note to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. View original content to download multimedia:https://www.prnewswire.com/news-releases/la-z-boy-incorporated-completes-sale-of-american-drew-and-kincaid-wholesale-casegoods-businesses-302787512.htmlSOURCE La-Z-Boy Incorporated Original: La-Z-Boy Incorporated Completes Sale of American Drew and Kincaid Wholesale Casegoods Businesses
US Market News
1月前
La-Z-Boy Incorporated Declares Quarterly DividendApril 28, 2026 4:15 PM
PR Newswire (US)
MONROE, Mich., April 28, 2026 /PRNewswire/ -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, today declared a quarterly cash dividend on the company's common stock of $0.242 per share. The dividend will be paid on June 15, 2026 to shareholders of record as of June 2, 2026.
About La-Z-Boy:
La-Z-Boy Incorporated (NYSE: LZB) is a leading vertically integrated retailer and manufacturer of high-quality, custom furniture that transforms the home. Founded on American heritage, the iconic La-Z-Boy brand has been synonymous with comfort, quality, and craftsmanship for nearly 100 years. As an end-to-end enterprise, the company manages every aspect of its business—from retail, manufacturing, and design to distribution and after-service care.La-Z-Boy Incorporated brings timeless and modern furniture to life through a retail network of over 370 La-Z-Boy stores, including 226 company-owned locations, and its digital platform at La-Z-Boy.com. Within the Wholesale segment, the company manufactures comfortable, high quality, custom furniture, with approximately 90% of its products produced in North America. Its Joybird® brand is an omnichannel retailer and manufacturer of modern, custom upholstered furniture, operating 15 U.S. stores. With a global team of about 11,000 employees, La-Z-Boy Incorporated was named to TIME's 2026 list of America's Most Iconic Companies and Newsweek's 2025 list of America's Best Retailers, ranking No. 1 in the furniture category. The company continues to shape the way people live by delivering the transformational power of comfort.
View original content to download multimedia:https://www.prnewswire.com/news-releases/la-z-boy-incorporated-declares-quarterly-dividend-302756089.htmlSOURCE La-Z-Boy Incorporated
Original: La-Z-Boy Incorporated Declares Quarterly Dividend
US Market News
1月前
La-Z-Boy Incorporated Introduces AudioLuxe, a New Premium Audio Furniture Line with Sound by KlipschApril 20, 2026 9:15 AM
Business Wire
Debuting at High Point Market, AudioLuxe brings a premium sound experience to the comfort of La-Z-Boy recliners and motion furniture.
Key Highlights:
New AudioLuxe by La-Z-Boy® premium audio furniture line debuts at High Point Market with select availability this fall
The product line combines an integrated audio experience with the comfort and quality for which La-Z-Boy is known
Key features, driven by consumer led insights, include Sound by Klipsch, surround sound with audio-visual sync, Auracast™ Bluetooth audio sharing, personalized controls, and La-Z-Boy customizable comfort
La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, is bringing premium audio to its motion furniture lineup with the debut of AudioLuxe by La-Z-Boy®, a new product line featuring integrated Klipsch sound systems. The collection makes its industry debut at the April 2026 High Point Market with select availability this fall and leverages La-Z-Boy’s in-house consumer led insights to drive innovation.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260420600149/en/
AudioLuxe pairs La-Z-Boy’s signature customizable comfort with Sound by Klipsch, delivering crystal clear tones and deep bass vibrations directly through the furniture. The line features speakers and subwoofers built directly into a range of recliners and motion furniture. With modern silhouettes and clean lines, the AudioLuxe line is designed to complement contemporary living spaces.
“At La-Z-Boy Incorporated, we prioritize delivering an unmatched comfort experience through every product,” said Nelly Martínez Garza, Sr. Director of Product Design. “With AudioLuxe, we’re pairing the comfort and quality that La-Z-Boy consumers have trusted for generations with the premium audio performance Klipsch is known for. There’s nothing on the market that provides audio immersion at this level of comfort, and we’re excited for AudioLuxe to make its way into living rooms and home theaters nationwide. The new line further advances La-Z-Boy Incorporated’s Century Vision strategy of expanding brand reach and will be manufactured within our United States manufacturing footprint.”
Premium audio, precisely positioned
AudioLuxe is engineered in partnership with Klipsch, an American audio brand with more than 80 years of innovation in home theater, sound bars, and high-performance speaker systems. Together, the companies have developed an integrated audio experience with speakers and subwoofers positioned for optimal, immersive sound delivery.
“This partnership brings together two American icons with the shared vision to establish a new benchmark for comfort and sound, redefining the way we enjoy entertainment at home," said Vince Bonacorsi, Chief Operating Officer of Klipsch. “Our advanced audio technologies, refined over the last eight decades, allow the AudioLuxe products to deliver a new level of realism for an embedded audio experience unlike anything currently on the consumer market.”
Key features of the AudioLuxe line include:
Sound by Klipsch: Wireless speakers and subwoofers by Klipsch are embedded directly into recliners and sofas, delivering sound you can feel
Surround sound with audio-visual sync: When paired with the Klipsch Flexus Sound System, AudioLuxe furniture enables dynamic, 5.1.2 surround sound powered by Dolby® Atmos
Auracast™ Bluetooth audio sharing: Broadcast high-quality audio to each seat by connecting a phone or tablet to an AudioLuxe piece, then sharing the sound to all other Auracast™-enabled seats or speakers in the home
Personalized controls: Each armrest features integrated controls so users can manage their own audio input and sound level or choose to listen in sync
La-Z-Boy customizable comfort: AudioLuxe furniture offers fully adjustable back recline, lumbar support, headrests, and legrests, plus integrated storage and fabric and leather cover options
Industry debut at High Point Market
Retail buyers, wholesale customers, and industry partners can experience AudioLuxe in the La-Z-Boy showroom by appointment only at High Point Market beginning April 23, 2026. AudioLuxe will be available in select La-Z-Boy stores, Comfort Studios, Branded Spaces, and other furniture retailers this fall. To book an appointment at the La-Z-Boy showroom, contact: lisa.voltmer@la-z-boy.com.
About La-Z-Boy:
La-Z-Boy Incorporated (NYSE: LZB) is a leading vertically integrated retailer and manufacturer of high-quality, custom furniture that transforms the home. Founded on American heritage, the iconic La-Z-Boy brand has been synonymous with comfort, quality, and craftsmanship for nearly 100 years. As an end-to-end enterprise, the company manages every aspect of its business—from retail, manufacturing, and design to distribution and after-service care.
La-Z-Boy Incorporated brings timeless and modern furniture to life through a retail network of over 370 La-Z-Boy stores, including 226 company-owned locations, and its digital platform at La-Z-Boy.com. Within the Wholesale segment, the company manufactures comfortable, high quality, custom furniture, with approximately 90% of its products produced in North America. Its Joybird® brand is an omnichannel retailer and manufacturer of modern, custom upholstered furniture, operating 15 U.S. stores. With a global team of about 11,000 employees, La-Z-Boy Incorporated was named to TIME’s 2026 list of America’s Most Iconic Companies and Newsweek’s 2025 list of America’s Best Retailers, ranking No. 1 in the furniture category. The company continues to shape the way people live by delivering the transformational power of comfort.
About Klipsch:
Paul W. Klipsch, inventor, acoustics pioneer and maverick, founded Klipsch Audio with the sole purpose of bringing the power, detail and emotion of the live music experience into his living room. Using highly efficient speaker designs, handcrafted cabinetry and a thirst for real engineering breakthroughs – Klipsch, the great American audio company, was born in Hope, AR. Today, our diverse range of quality audio products includes speakers and headphones for almost any consumer and professional application – including cinema, whole-house, wireless, home theater and portable offerings. Honoring our founder’s legacy, Klipsch continues to be the legendary high-performance brand of choice for audiophiles and aficionados around the world. We are the Keepers of the Sound®. Klipsch®, registered in the U.S. and other countries, is a trademark of Klipsch Group, Inc. Klipsch Group, Inc. is a wholly-owned subsidiary of Gentex Corporation (NASDAQ: GNTX).Visit www.klipsch.com for more information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260420600149/en/
Investor Relations / Media Contact:
Mark Becks, CFA, (734) 457-9538
mark.becks@la-z-boy.com
Original: La-Z-Boy Incorporated Introduces AudioLuxe, a New Premium Audio Furniture Line with Sound by Klipsch
MWM
17年前
La-Z-Boy Reports Fourth-Quarter Profit
Jun 15, 2009 4:27:00 PM
Email Story Discuss on ZenoBank
View Additional ProfilesMONROE, Mich., June 15 /PRNewswire-FirstCall/ -- La-Z-Boy Incorporated (NYSE: LZB) today reported its operating results for the fiscal fourth quarter and full year ended April 25, 2009.
Fiscal 2009 fourth quarter highlights:
-- Income from continuing operations was $0.10 per share versus a loss of
$0.09 per share in last year's fourth quarter, despite a 23%
decline in net sales, reflecting ongoing macroeconomic challenges
-- The company generated $34 million in cash from operating activities and
reduced debt by $28 million
-- Net debt at year end was less than $44 million - the lowest level the
company experienced in this decade
-- The retail segment's performance improved - operating loss reduced
by $5 million on a 21% sales decline
Net sales for the fourth quarter were $284.5 million, down 23% compared with the prior year's fourth quarter. The company reported income from continuing operations of $5.3 million, or $0.10 per share, compared with a loss of $4.5 million, or a loss of $0.09 per share in the same period of fiscal 2008. The 2009 fourth-quarter results include a $0.01 per share impairment of long-lived assets related to its retail operation, a $0.01 restructuring charge, primarily related to store closures within the company's retail segment and a $0.05 tax benefit. The company's 2008 fourth-quarter results include a $0.04 restructuring charge, primarily related to the closing of its Tremonton, UT manufacturing facility.
Kurt L. Darrow, President and Chief Executive Officer of La-Z-Boy, said, "We were profitable during the quarter on a sales decline of $84 million as the operating environment continues to be very difficult. This is the direct result of the decisive actions taken and the significant changes made to our cost structure over the past year, coupled with the ongoing execution of strategic initiatives that will continue to increase the company's operating efficiencies. Additionally, during the quarter, we generated $34 million in cash from operating activities. We remained focused on improving our liquidity by paying down debt by $27.8 million, bringing our net debt at year end to less than $44 million. Additionally, subsequent to year end, restricted cash of about $18 million became available to be used for operations due to a change in our captive insurance company. We also reduced our losses in the retail segment by $5 million when compared with the previous year's fourth quarter, even on declining volume. Going forward, we will maintain our aggressive stance in managing our business and, with our new infrastructure, I am confident La-Z-Boy Incorporated will emerge from this difficult macroeconomic period as a stronger and more competitive entity."
For the full fiscal 2009 year, La-Z-Boy Incorporated reported sales of $1.2 billion, down 15.5% from $1.5 billion in the prior-year period. The company posted a loss from continuing operations of $121.3 million, or $2.36 per share, versus a loss of $7.5 million, or a loss of $0.15 per share. The 2009 full-year results include income of $0.16 per share related to anti-dumping monies received on bedroom furniture imported from China, a restructuring charge of $0.24 per share related to various plant, warehouse facilities and retail store closures, a non-cash intangible write-down of $0.85 per share relating to goodwill and trade names and a $0.15 per share non-cash impairment of long-lived assets relating to the company's retail operation. The company's full-year results also include a non-cash $0.74 per-share charge recognized in the second quarter of fiscal 2009 for a valuation allowance against the company's deferred tax assets.
Wholesale Segments
For the fiscal 2009 fourth quarter, sales in the company's upholstery segment decreased 22.5% to $215.0 million compared with $277.5 million in the prior year's fourth quarter. On the $62.5 million decline in sales, the segment's operating margin increased to 9.0% from 8.3% in the prior year's quarter. In the casegoods segment, sales for the fiscal fourth quarter were $39.3 million, down 19.4% from $48.8 million in the prior year's fourth quarter. The segment's operating margin decreased to (3.2%) from 3.6% in last year's comparable period.
Darrow commented, "Our operating margin performance in our upholstery segment demonstrates the efficiencies with which we are running our business. On a significant decline in volume, we not only operated with a 9% margin, but improved our operating performance quarter over quarter. This is a testament to the number of changes we have made to our manufacturing structure. In addition to the benefits derived from cellular production at our La-Z-Boy branded facilities, we are also achieving similar lean benefits at our other upholstery companies. And, with the transition to our new Mexican cut-and-sew facility in progress and on schedule, we look forward to achieving further cost savings and efficiencies, as planned. However, we are currently running dual cut-and-sew operations as we go through the transition process and are not yet realizing the anticipated cost benefits from the Mexican operation. We expect to start seeing benefits in early calendar 2010."
Darrow continued, "In our casegoods business, we made the decision to consolidate our two separate manufacturing operations into one facility in Hudson, NC. We will close our plant in North Wilkesboro, NC and convert it to a finished-goods warehouse and vacate a leased warehouse operation in Statesville, NC. These moves will take place over a nine-month period and, when completed, will provide an annual cost savings of approximately $5 to $6 million, based on current volume. Additionally, we are narrowing the number of collections we offer to focus on our best sellers and a core group of products. As a result, during the quarter, the operating margin for the segment was negatively impacted by higher-than-usual discounting of certain product to reduce inventory levels and generate cash."
In fiscal 2009, the La-Z-Boy Furniture Galleries(R) store system, which includes both company-owned and independent-licensed stores, opened six new stores, relocated and/or remodeled nine and closed 21, bringing the total store count to 320, of which 224 are in the New Generation format. For fiscal 2010, the network plans to be opportunistic in opening or relocating stores and anticipates closing five to 10 stores.
System-wide, for the fiscal 2009 fourth quarter, including company-owned and independent-licensed stores, same-store written sales, which the company tracks as an indicator of retail activity, were down 16.4%. Total written sales, which include new and closed stores, were down 20.6%.
Retail
For the quarter, retail sales were $38.4 million, down 21.4% compared with the prior-year period. The retail group posted an operating loss for the quarter, and its operating margin was (19.1%). Darrow stated, "Although our retail business continues to be impacted by the weak demand environment, I am pleased with the progress our team is making in stemming the losses in the segment. In spite of the sales decline, we decreased our operating loss for the quarter by $5 million compared with last year's fourth quarter, reflecting the numerous changes made to the business over the previous six-month period. Those changes include structural improvements within each store, more efficient and effective marketing, higher gross margins and lower warehousing costs due to the shift we instituted last quarter. Going forward, working within the confines of a difficult macroeconomic environment and associated lower traffic levels, our sales team is focused on improving the customer shopping experience, leveraging new selling strategies and improving on the execution of our In-Home Design capabilities. We believe that even in the lower-volume environment, we can continue to improve the segment's operating performance."
Balance Sheet
During the fourth quarter, La-Z-Boy generated $34 million in cash from operating activities and paid down its debt by $27.8 million. La-Z-Boy's debt-to-capitalization ratio was 16.6% compared with 18.8% a year ago and to 22% at the end of the third quarter. During the quarter, the company's inventory was reduced by 18.6%, or $32 million. Darrow stated, "In addition to managing all facets of our business aggressively, we are focused on improving our liquidity. In a difficult sales environment, we were able to generate cash, pay down debt and increase our availability under our revolving line of credit by $7.8 million to $65 million."
Business Outlook
Darrow stated, "We anticipate business conditions to remain difficult throughout the year and are structuring our business accordingly. Should conditions change in either direction, we will react swiftly and make the necessary changes to our operating structure. Due to seasonality factors and plant shutdowns for vacation and maintenance, the summer period is usually the slowest for the furniture industry and, historically, our first quarter, which ends in July, is typically the weakest in terms of sales and profits."
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