Company Performance - La-Z-Boy (NYSE: LZB) reported strong fiscal 3Q25 results with year-over-year sales growth across all segments, particularly in Joybird, its direct-to-consumer online segment [1] Investment Strategy - The investment approach focuses on identifying value opportunities, especially in small and mid-cap sectors where market inefficiencies are prevalent [1] - The strategy includes looking for industry leaders in out-of-favor sectors, quality companies facing temporary setbacks, and businesses with strong balance sheets and robust cash generation [1] Analytical Approach - The analysis emphasizes balance sheet strength from a credit perspective, near-term cash flow generation, next twelve-month earnings forecasts, and book value analysis, particularly for financial sector investments [1] Professional Background - The investment philosophy is supported by over 10 years of experience in financial sector consulting, which aids in identifying overlooked opportunities [1]

MONROE, Mich., Feb. 24, 2025 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, today announced that Melinda D. Whittington, Board Chair, President and Chief Executive Officer; Taylor Luebke, Senior Vice President and Chief Financial Officer; and Mark Becks, Director Investor Relations and Corporate Development will participate in a fireside chat presentation at the Raymond James 46th Annual Institutional Investors Conference held a ...

Group 1 - La-Z-Boy Incorporated, a furniture retailer and wholesaler, experienced a 4% increase in share price on February 19th [1] - The share price surge occurred the day after management provided positive updates [1] Group 2 - Crude Value Insights offers an investing service focused on oil and natural gas, emphasizing cash flow and growth prospects [1] - Subscribers have access to a stock model account, cash flow analyses of exploration and production firms, and live sector discussions [2]

Financial Data and Key Metrics Changes - Consolidated delivered sales reached $522 million, up 4% year-over-year [8][36] - Non-GAAP operating margin expanded by 20 basis points to 6.8% [9][36] - GAAP diluted EPS was $0.68, compared to $0.66 in the prior year [37] Business Segment Data and Key Metrics Changes - Retail segment sales increased by 11% to $228 million, driven by same-store sales growth [9][38] - Wholesale segment delivered sales grew by 2% to $363 million, supported by the North America La-Z-Boy brand [40] - Joybird reported delivered sales of $37 million, up 9% year-over-year, achieving breakeven operating profit [41][28] Market Data and Key Metrics Changes - Total written sales for the company-owned retail segment increased by 15% year-over-year [13] - Written same-store sales for the entire La-Z-Boy Furniture Galleries network increased by 5% [14] - The furniture and home furnishing industry grew by 5% during the fiscal third quarter [15] Company Strategy and Development Direction - The Century Vision strategy aims to drive top-line growth at double the market rate and maintain double-digit operating margins [17][50] - The company plans to expand its La-Z-Boy Furniture Galleries network to over 400 stores in the coming years [19] - A focus on enhancing brand reach through strategic partnerships and expanding distribution channels is emphasized [22][76] Management's Comments on Operating Environment and Future Outlook - The management acknowledges a volatile operating environment but remains optimistic about growth opportunities despite industry challenges [11][33] - The company expects fourth-quarter delivered sales in the range of $545 million and non-GAAP operating margin between 8.5% and 9.5% [50] - Management is monitoring the evolving global tariff and trade environment while planning for various scenarios [51][117] Other Important Information - La-Z-Boy was named to Forbes' list of America's best large employers for 2025 [56] - The company has a strong balance sheet with $315 million in cash and no externally funded debt [46] Q&A Session Summary Question: Can you provide insights on the trends throughout the quarter? - Management noted that strength was strongest during the holiday period, with overall year-on-year strength across all three months of the quarter [62] Question: What are the expectations for operating margins in the fourth quarter? - Management highlighted that core North America La-Z-Boy wholesale business has shown margin expansion, while challenges remain in the international business [68][70] Question: What is the status of strategic partnerships? - Management confirmed ongoing investments in comfort studios and emphasized the importance of existing partnerships while exploring new opportunities [74][78] Question: How is the core wholesale segment performing? - Management expressed satisfaction with progress in the core North America wholesale business, noting improvements in supply chain efficiency [85] Question: What is the outlook for Joybird? - Management indicated that Joybird is positioned for growth with plans to open three to four new stores next year, while maintaining financial discipline [106]

Financial Performance - Consolidated sales increased by $21.4 million, or 4%, in the third quarter of fiscal 2025 compared to the same period last year, driven by same-store sales growth in the Retail business and higher volume in the Joybird business [105]. - Operating income for the third quarter of fiscal 2025 was $35.2 million, an increase of 8% from $32.6 million in the same quarter last year [104]. - The operating margin improved to 6.7% in the third quarter of fiscal 2025, up from 6.5% in the prior year [104]. - For the first nine months of fiscal 2025, consolidated sales rose by $44.8 million, or 3%, primarily due to incremental sales from Retail acquisitions and higher delivered volume in the Joybird business [105]. - Gross margin increased by 170 basis points in Q3 2025 and 90 basis points in the first nine months of fiscal 2025 compared to the same periods a year ago [107]. - Retail segment sales rose by $23.0 million, or 11.2%, in Q3 2025, and $24.4 million, or 3.9%, in the first nine months of fiscal 2025 compared to the same periods a year ago [110]. - Same-store sales increased by 7% in Q3 2025 and 1% in the first nine months of fiscal 2025 compared to the same periods a year ago [111]. - Wholesale segment sales increased by $6.6 million, or 2%, in Q3 2025, and $23.0 million, or 2%, in the first nine months of fiscal 2025 compared to the same periods a year ago [115]. - Operating income for the Retail segment was $24.5 million in Q3 2025, a 9.6% increase compared to the same period a year ago, while it decreased by 8.2% in the first nine months of fiscal 2025 [109]. - Joybird sales increased by $3.0 million in Q3 2025 and $8.4 million in the first nine months of fiscal 2025 compared to the same periods a year ago [118]. Strategic Initiatives - The strategic plan, Century Vision, aims to grow sales and market share while strengthening operating margins by 2027 [95]. - The company plans to enhance its enterprise capabilities to support growth and potential acquisitions, emphasizing an agile supply chain and modern technology [99]. - Joybird, acquired in fiscal 2019, is focused on profitable growth through increased digital marketing spend and expansion of product assortment [98]. - The company expects to grow its Retail segment through increased company-owned store count and upgrading existing locations [101]. Cash Flow and Investments - Net cash provided by operating activities was $125.3 million in the first nine months of fiscal 2025, an increase of $19.9 million compared to the same period a year ago [128]. - Net cash used for investing activities in the first nine months of fiscal 2025 was $71.2 million, an increase of $17.2 million compared to the same period last year, primarily due to higher capital expenditures [129]. - Cash used for capital expenditures was $51.5 million, up from $38.0 million in the same period last year, with full-year fiscal 2025 capital expenditures expected to be between $70 million and $80 million [131]. - Cash used for acquisitions totaled $24.8 million, primarily for retail businesses in Davenport, Iowa, Melbourne and Cocoa, Florida, and Toledo, Ohio [131]. - Cash paid to shareholders in quarterly dividends amounted to $25.9 million, with the board of directors expected to continue declaring regular dividends [137]. - The company anticipates continued stock repurchases in fiscal 2025, subject to market conditions, with 4.0 million shares remaining available for repurchase [132]. - Cash from the sale of investments, net of purchases, was $4.9 million during the first nine months of fiscal 2025 [131]. Financial Position - As of January 25, 2025, the company had no borrowings outstanding under its $200 million unsecured revolving credit facility, which matures on October 15, 2026 [130]. - The effective tax rate was 25.1% for Q3 2025 and 25.6% for the first nine months of fiscal 2025, compared to 20.2% and 24.5% for the same periods in fiscal 2024 [123]. - The company remains in compliance with financial covenants under the Credit Facility, ensuring adequate liquidity for operations over the next 12 months [130]. - The company recorded $4.0 million in severance-related expenses and $3.0 million in accelerated depreciation due to the closure of a cut and sew facility in Mexico [92]. - SG&A expenses as a percentage of sales increased by 150 basis points in Q3 2025 and 70 basis points in the first nine months of fiscal 2025 compared to the same periods a year ago [107].

EXHIBIT 99.1 La-Z-Boy Incorporated Reports Strong Third Quarter Results; Sales Growth Across All Segments, Company-Owned Same-Store Sales Accelerate Fiscal 2025 Third Quarter Highlights: MONROE, Mich., February 18, 2025 -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, today reported strong third quarter results for the period ended January 25, 2025. For the quarter, sales totaled $522 million, growing 4% against the prior year comparable period. O ...

Core Insights - La-Z-Boy Incorporated has been recognized as one of America's Best Large Employers by Forbes for 2025, highlighting its excellence across various dimensions such as atmosphere, salary, diversity, and working conditions [1][2] - The recognition is based on an independent survey of over 217,000 U.S. employees from companies with at least 1,000 employees, with more than 6.5 million evaluations considered [2] Company Values and Mission - The company emphasizes its commitment to innovation, craftsmanship, and integrity, with a focus on fostering an environment where employees can thrive [3] - La-Z-Boy's mission is rooted in core values of courage, curiosity, and compassion, aiming to deliver comfort through its products and support for employees and communities [3][4] Employee Engagement and Well-being - Over recent years, La-Z-Boy has prioritized employee connectedness, safety, and career alignment, which has contributed to overall performance and business success [4] - The company is dedicated to creating a workplace where employees feel valued and inspired, reflecting its core values that drive its culture [5] Company Overview - La-Z-Boy operates nearly 200 company-owned La-Z-Boy Furniture Galleries® stores and is part of a broader network of over 360 stores, along with an e-commerce platform [7] - The company manufactures custom furniture through its Wholesale segment, which includes brands like England Furniture Co., Kincaid®, American Drew®, and Hammary® [7]

MONROE, Mich., Feb. 13, 2025 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the manufacture and retail of residential furniture, announced today that it has been recognized as one of America's Best Large Employers by Forbes for 2025. The list, produced in partnership with market research firm Statista, recognizes companies that excel across a broad spectrum of industries in six key dimensions: atmosphere and development, salary/wage, image, diversity, working conditions, and workp ...

MONROE, Mich., Feb. 04, 2025 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB) will report its Fiscal 2025 Third Quarter results for the period ended January 25, 2025 after the close of trading on the New York Stock Exchange on Tuesday, February 18, 2025, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, February 19, 2025. The conference call will be webcast live with corresponding slides at https://lazboy.gcs-web.com/. The dial-in phone number ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to fi ...