Welcome to our dedicated page for La-Z-Boy news (Ticker: LZB), a resource for investors and traders seeking the latest updates and insights on La-Z-Boy stock.
La-Z-Boy Incorporated (NYSE: LZB) generates a steady flow of news as a vertically integrated retailer and manufacturer of residential furniture. Company updates often highlight its La-Z-Boy Furniture Galleries® network, Wholesale operations, and the Joybird® brand, reflecting activity across both consumer-facing retail and manufacturing.
Investors and observers following LZB news can expect regular coverage of quarterly and annual financial results, including delivered sales, operating margins, cash flow, and returns to shareholders. Earnings releases frequently discuss performance in the Retail and Wholesale segments, trends in written and delivered sales, and the impact of macroeconomic conditions on consumer demand for home furnishings.
La-Z-Boy also issues news about store expansion and acquisitions, such as agreements to acquire independent La-Z-Boy Furniture Galleries® store networks and the opening of new company-owned locations. These announcements shed light on the company’s Century Vision strategy to grow its Retail footprint and expand brand reach.
Other recurring news themes include portfolio and supply chain initiatives, like distribution and home delivery transformation projects, consolidation of distribution centers, and decisions to exit certain non-core casegoods and upholstery businesses. Leadership and governance developments, including board appointments and commercial leadership realignments, are disclosed through press releases and corresponding Form 8‑K filings.
This news page brings together these items so readers can review La-Z-Boy’s latest earnings announcements, strategic updates, leadership changes, and capital allocation decisions in one place. For those tracking LZB, the feed provides context on how the company is executing its strategies in the residential furniture market over time.
La-Z-Boy reported its fiscal 2020 results, with consolidated sales of $1.70 billion, a decrease of 2.4% year-over-year, chiefly due to COVID-19. In Q4 alone, sales dropped 19.1% to $367.3 million. Despite these challenges, the company generated $164.2 million in cash from operations and returned $68.4 million to shareholders. GAAP EPS for Q4 improved to $0.05 from $0.03, while full-year GAAP EPS was $1.66, up from $1.44. The company remains focused on financial agility and is seeing early recovery signs as retail operations re-open.
La-Z-Boy Incorporated (NYSE: LZB) announced with deep sorrow the passing of Steve Kincaid, a veteran in the furniture industry with nearly 50 years of experience. Kincaid, who started with Kincaid Furniture Company in 1970 and became its President in 1983, led the company through significant growth and its acquisition by La-Z-Boy in 1989. He played a vital role in transforming La-Z-Boy’s casegoods business. Kincaid was recognized for his leadership and charitable involvement, leaving a lasting impact on the furniture industry.
La-Z-Boy Incorporated (NYSE: LZB) is set to announce its fiscal 2020 fourth-quarter and full-year results on June 23, 2020, after market close. An investor conference call is scheduled for June 24, 2020, at 8:30 a.m. ET. Investors can participate via phone or through a live webcast, with archived access available online. La-Z-Boy, a leading residential furniture manufacturer, operates under several brands and has a network of stores across the U.S. and Canada, including 155 company-owned La-Z-Boy Furniture Galleries.
La-Z-Boy, a leader in residential furniture, has announced significant workforce reductions of about 10% (~850 employees) due to impacts from COVID-19. This includes the closure of its Newton, Mississippi upholstery facility and a shift in production to its other plants to enhance efficiency and competitiveness. The company anticipates incurring $5 million to $7 million in one-time charges in fiscal 2021, mainly affecting the first quarter. La-Z-Boy plans to release its fiscal 2020 results on June 23, 2020.