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 (LZB) is a leading manufacturer of residential upholstered furniture, renowned for innovative recliners and comfort-focused designs. This news hub provides investors and industry observers with essential updates on corporate developments, financial performance, and strategic initiatives.
Access timely press releases and curated news coverage spanning earnings reports, product launches, manufacturing innovations, and retail expansions. Our aggregation ensures you stay informed about operational milestones, leadership updates, and market positioning within the furniture industry.
Key coverage areas include quarterly financial results, sustainability initiatives, retail network growth, and design partnerships. All content is verified for accuracy and relevance to support informed analysis of LZB's wholesale operations, retail strategies, and competitive dynamics.
Bookmark this page for streamlined access to La-Z-Boy's latest developments. Check regularly for updates reflecting the company's commitment to quality craftsmanship and evolving home comfort solutions.
La-Z-Boy Incorporated (NYSE: LZB) is finalizing the closure of its Newton, Mississippi upholstery facility, effective September 16, 2022. Initially slated for closure in June 2020 due to COVID-19 impacts, the facility was temporarily re-activated in October 2020 due to increased demand. Currently, it represents less than 5% of La-Z-Boy's total upholstery production, affecting approximately 180 employees, while other functions will continue to operate with about 235 employees remaining. The company has been optimizing its manufacturing footprint across North America.
La-Z-Boy Incorporated (NYSE: LZB) reported record financial results for FY 2022, with consolidated sales reaching $2.4 billion, a 36% increase from FY 2021. The fourth quarter also saw a 32% sales increase to $685 million. Joybird sales surged by 62% to $176 million. GAAP net income per diluted share rose to $3.39, driven by strong consumer demand amidst supply chain challenges. The company returned $118 million to shareholders via dividends and share repurchases. For FY 2023, La-Z-Boy forecasts a 7%-10% increase in first-quarter sales, reflecting ongoing macroeconomic volatility.
La-Z-Boy Incorporated (NYSE: LZB) announced the appointment of Carol Y. Lee as Vice President and Chief Information Officer, effective June 20, 2022. Lee will oversee the company's enterprise-wide IT strategy, focusing on cybersecurity, ERP deployment, and operational support. CEO Melinda D. Whittington expressed confidence in Lee's ability to lead digital transformation efforts. With over 20 years of IT experience, Lee previously served at Consolidated Hospitality Supplies. This strategic hire aims to align La-Z-Boy's technology with its Century Vision growth strategy.
La-Z-Boy Incorporated (NYSE: LZB) will announce its fiscal 2022 Q4 and full-year results on June 21, 2022, post-market. A conference call to discuss these results is scheduled for June 22, 2022, at 8:30 AM ET. Investors can dial in at (888) 506-0062 or (973) 528-0011 for international access. The presentation will be available via webcast, along with supporting slides.
For further details, visit the official site and SEC filings.
La-Z-Boy Incorporated (NYSE: LZB) has announced a quarterly cash dividend of $0.165 per share, payable on June 15, 2022 to shareholders of record as of June 2, 2022. This decision reflects the company's ongoing commitment to shareholder returns. La-Z-Boy is a leader in the residential furniture industry, with various brands and a robust retail presence, including 350 stand-alone La-Z-Boy Furniture Galleries. Investors are encouraged to stay informed through the company’s SEC filings and news releases available on their website.
La-Z-Boy Incorporated (NYSE: LZB) announced the retirement of Darrell Edwards, SVP and COO, effective July 2022, with Mike Leggett promoted to SVP and Chief Supply Chain Officer. Whittington, the CEO, highlighted Edwards' significant contributions, including supply chain transformation and sustainable practices. Leggett, who joined in December 2021, aims to enhance manufacturing agility and drive growth through the company's Century Vision strategy. This strategy is expected to unlock sales growth and achieve double-digit operating margins by 2027.
La-Z-Boy Incorporated (NYSE: LZB), a leader in residential furniture, will present at the Raymond James 43rd Annual Institutional Investors Conference on March 7, 2022, at 3:25 p.m. Eastern. The CEO, Melinda D. Whittington, and CFO, Bob Lucian, will host the event, which will be available via a live webcast and archived for one year. For further details, visit La-Z-Boy's official website.
The company aims to keep investors informed through SEC filings and future news releases.
La-Z-Boy reported a strong fiscal 2022 Q3 with consolidated sales rising 22% to $572 million.
Despite record retail segment profits, supply chain disruptions and component shortages impacted margins, lowering GAAP operating margin to 6.9% from 7.3% year-over-year.
Net income per diluted share increased to $0.65, while non-GAAP EPS fell to $0.65.
The company returned $32 million to shareholders and declared a quarterly dividend of $0.165 per share.
Future outlook remains positive, with expected sales growth and improved margins despite persistent supply chain challenges.
La-Z-Boy (NYSE: LZB) will announce its fiscal 2022 Q3 results on February 15, 2022, after market close, followed by an investor conference call on February 16, 2022, at 8:30 a.m. ET. The call can be accessed at (888) 506-0062 for U.S. and Canada, and (973) 528-0011 internationally. A live webcast will also be available, with slides archived online. La-Z-Boy is a leading furniture producer with a diverse portfolio including brands like England and Joybird. For more details, visit the official website or SEC filings.
FAQ
What is the current stock price of La-Z-Boy (LZB)?
What is the market cap of La-Z-Boy (LZB)?
