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 set to announce its fiscal 2021 fourth-quarter and full-year results on June 15, 2021. The quarterly investor conference call is scheduled for June 16, 2021, at 8:30 a.m. ET, accessible via a live dial-in or webcast. The conference call will be archived online for one year. La-Z-Boy is a prominent residential furniture manufacturer, known for brands including England and Joybird, with a distribution network of 351 La-Z-Boy Furniture Galleries and 563 independent Comfort Studio locations.
La-Z-Boy has declared a quarterly cash dividend of $0.15 per share, payable on June 15, 2021, to shareholders of record by June 1, 2021. This announcement highlights the company's ongoing commitment to returning value to its shareholders amidst its operations in furniture production and retail.
La-Z-Boy Incorporated (NYSE: LZB) has finalized a significant 10-year virtual power purchase agreement (VPPA) with AEP Energy Partners, aimed at reducing its carbon footprint. This agreement, extending through 2030, will support approximately 70,000 MWh of renewable energy annually from the Santa Rita East wind energy center in Texas. The VPPA will provide La-Z-Boy with renewable energy certificates equivalent to about 16 MW of wind power capacity, covering over 90% of its annual domestic energy consumption. This initiative reflects La-Z-Boy's commitment to sustainability.
La-Z-Boy, a leading residential furniture producer, will present at the Sidoti & Company Virtual Investor Conference on March 24, 2021, at 10:00 a.m. Eastern. CEO Kurt Darrow, CFO Melinda Whittington, and VP of Finance Bob Lucian will lead the presentation, which will be available for live and archived viewing. The company operates 351 La-Z-Boy Furniture Galleries and offers online retail through Joybird. For further details, visit the company’s investor relations webpage.
La-Z-Boy Incorporated (NYSE: LZB) announced that CEO Kurt Darrow and CFO Melinda Whittington will present at the Raymond James 42nd Annual Institutional Investors Conference on March 1, 2021, at 10:50 a.m. Eastern. The presentation will be available via live webcast and archived for a year. La-Z-Boy is a leading residential furniture producer, with a comprehensive distribution network, including 351 La-Z-Boy Furniture Galleries and 563 independent Comfort Studio locations. For more information, visit their website.
La-Z-Boy Incorporated (NYSE: LZB) announced executive changes effective April 25, 2021. Raphael Richmond will succeed Stephen K. Krull as Vice President and General Counsel, while Uzma Ahmad becomes Vice President, Deputy General Counsel. Richmond, with extensive experience in corporate compliance, has been with La-Z-Boy since 2019. In finance, Robert G. Lucian will become CFO, with Lindsay Barnes stepping into the VP, Finance role, and Jennifer McCurry as VP, Corporate Controller. The transitions aim to strengthen the company's legal and financial operations as it approaches its new fiscal year.
La-Z-Boy reported its fiscal 2021 third quarter results with consolidated sales of $470.2 million, a 1.2% decrease year-over-year, impacted by COVID-19 supply chain issues. Written same-store sales increased by 6.3%, with a notable monthly acceleration. The GAAP operating margin fell to 7.3%, while non-GAAP margin improved to 9.5%. Earnings per share (GAAP) decreased to $0.62. Cash from operations reached $250 million, with total cash at $393 million. The Board declared a dividend increase of 7% to $0.15 per share. Overall, strong consumer demand continues despite operational challenges.
La-Z-Boy Incorporated (NYSE: LZB) announced the retirement of Kurt L. Darrow as President and CEO effective April 25, 2021, after over 40 years with the company. Melinda D. Whittington, the current CFO, will succeed him as CEO, marking a strategic leadership transition aimed at leveraging her extensive experience in finance and consumer products. Under Darrow's leadership, La-Z-Boy evolved into a leading residential furniture provider, navigating challenges like the Great Recession and the COVID-19 pandemic. Whittington aims to build on this foundation for future growth.
La-Z-Boy Incorporated (NYSE: LZB) has appointed James P. Hackett to its Board of Directors, expanding the board to 10 members. Hackett, former CEO of Ford, brings extensive experience, having led significant business transformations at both Ford and Steelcase. His insight is anticipated to bolster La-Z-Boy's strategic vision and product innovation. Chairman Kurt L. Darrow expressed confidence in Hackett's ability to drive growth through understanding consumer needs and market dynamics. This strategic move signals La-Z-Boy's commitment to enhancing its leadership as it navigates future opportunities.
La-Z-Boy Incorporated (NYSE: LZB) reports strong demand trends, with a 20% increase in wholesale backlog and a 19% rise in same-store sales year-to-date through December. However, the company anticipates a 1-2% decline in consolidated sales compared to last year due to COVID-19-related production constraints. Despite these challenges, a dividend increase from $0.14 to $0.15 per share has been approved, reflecting confidence in the company’s ongoing performance. Fiscal 2021 third-quarter results will be released on February 16, 2021.
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