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 reports news about its residential furniture retail and manufacturing business, including operating results for its Retail and Wholesale segments, store activity, distribution and home delivery initiatives, and performance across the La-Z-Boy and Joybird brands. The company sells upholstered furniture, recliners, motion furniture, case goods and modern custom upholstered furniture through company-owned stores, an independent retail network and digital channels.
Recurring updates also cover product introductions such as AudioLuxe by La-Z-Boy, quarterly cash dividends, investor presentations, board and governance matters, and strategic actions affecting commercial leadership, manufacturing, distribution and brand portfolio operations.
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.