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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 Incorporated (NYSE: LZB) has announced the timing for its Fiscal 2025 First Quarter earnings release and conference call. The company will report results for the period ended July 27, 2024, after the NYSE closes on Tuesday, August 20, 2024. The investor conference call is scheduled for 8:30 a.m. Eastern Time on Wednesday, August 21, 2024.
Investors can access the live call via phone or webcast. The call will be archived online at https://lazboy.gcs-web.com/ for one year, with a two-week telephone replay available. La-Z-Boy operates as a vertically integrated furniture retailer and manufacturer, with 187 company-owned La-Z-Boy Furniture Galleries® stores and a network of over 350 galleries nationwide. The company also owns Joybird®, an e-commerce retailer with 12 U.S. stores, and manufactures furniture for various retail channels under multiple brands.
La-Z-Boy reported its fiscal 2024 fourth quarter and full-year results, highlighting a mixed performance. Fourth quarter sales were $554 million, down 1% from the previous year but up 22% compared to the pre-pandemic fourth quarter in fiscal 2019. GAAP diluted EPS for the quarter was $0.91, and non-GAAP diluted EPS was $0.95. The company generated $53 million in operating cash flow for the quarter.
For fiscal 2024, La-Z-Boy reported consolidated sales of $2.05 billion. GAAP diluted EPS was $2.83, while non-GAAP diluted EPS was $2.98. The company generated $158 million in operating cash flow and ended the year with $341 million in cash and no external debt. La-Z-Boy also returned $85 million to shareholders via share repurchases and dividends.
Despite facing industry challenges like high interest rates and low housing turnover, La-Z-Boy's strong execution and strategic growth, including opening new stores and acquisitions, have positioned it well. However, the company anticipates the industry to remain volatile in fiscal 2025.
La-Z-Boy (NYSE: LZB) will release its Fiscal 2024 Fourth Quarter and Full Year results on June 17, 2024, after the close of trading on the NYSE.
A quarterly investor conference call will follow on June 18, 2024, at 8:30 a.m. Eastern Time. The live call can be accessed via (888) 506-0062 in the U.S. or (973) 528-0011 internationally, with the access code 175127.
The call will be webcast live with slides and archived for one year on the company's website. A replay will be available for two weeks.
La-Z-Boy, known for its iconic recliner, operates as a vertically integrated furniture retailer and manufacturer, with a network that includes company-owned and independently owned stores, and the Joybird® brand.
La-Z-Boy Incorporated, a leading furniture manufacturer, declared a quarterly cash dividend of $0.20 per share, payable on June 14, 2024, to shareholders of record as of June 4, 2024.
The company, known for its iconic recliner since 1927, operates globally with a focus on quality and consumer satisfaction through its retail and wholesale segments.
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