In the United States, at least, one of the most iconic furniture brands out there is undoubtedly La-Z-Boy (NYSE: LZB ). In general, I do try to stay away from companies in the retailCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash flow analyses of E&P firms, and live chat discussio ...

Company Overview - La-Z-Boy Incorporated is a vertically integrated furniture retailer and manufacturer, known for its iconic recliner invented in 1927, and is committed to quality and consumer compassion [3]. Upcoming Financial Results - La-Z-Boy will report its Fiscal 2025 Second Quarter results for the period ended October 26, 2024, after the close of trading on November 19, 2024 [1]. - The quarterly investor conference call is scheduled for 8:30 a.m. Eastern Time on November 20, 2024 [1]. Conference Call Details - The conference call will be webcast live with corresponding slides available at https://lazboy.gcs-web.com/ [2]. - Dial-in numbers for the live conference call are (888) 506-0062 for U.S. and Canada callers, and (973) 528-0011 for international callers, with a participant access code of 770725 [2]. Retail and Wholesale Segments - The Retail segment includes approximately 190 company-owned La-Z-Boy Furniture Galleries® stores, part of a network of over 350 stores nationwide [4]. - Joybird®, an e-commerce retailer and manufacturer of modern upholstered furniture, operates 12 stores in the U.S. [4]. - The Wholesale segment manufactures custom furniture for its Furniture Galleries® and various retail channels, including brands like England Furniture Co., Kincaid®, American Drew®, and Hammary® [4].

MONROE, Mich., Oct. 10, 2024 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, today announced that Bob Lucian, Senior Vice President and Chief Financial Officer, will retire at the end of the fiscal year, effective April 26, 2025. Taylor Luebke, Vice President, Finance and Treasurer, will succeed Lucian as Senior Vice President and Chief Financial Officer beginning January 1, 2025. Luebke has nearly 20 years of finance experience, ...

MONROE, Mich., Sept. 16, 2024 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, today announced that Matt Baer has been named to the company's Board of Directors, effective January 1, 2025. The appointment will expand the Board to 11 members. Mr. Baer is a seasoned and customer-centric executive who brings extensive retail leadership experience across a variety of disciplines to the Board. He currently serves as Chief Executive Off ...

La-Z-Boy Inc. NYSE: LZB stock dropped 7% after the home furnishings retailer reported earnings on August 20. The report itself was fine with revenue and earnings beating analysts' expectations and revenue coming in higher year-over-year (YOY). The company also noted that its Wholesale segment was the key reason the company posted growth in delivered sales for the quarter. This is part of the company's Century Vision channel expansion strategy that has goals of growing revenue at 2x the industry average and ...

Financial Data and Key Metrics Changes - Consolidated delivered sales for Q1 2025 were $496 million, an increase of 3% year-over-year [4][19] - Non-GAAP operating margin was 6.6%, with non-GAAP EPS at $0.62, unchanged from the prior year [4][19] - Operating cash flow was $52 million, double the amount from the previous year [4][23] - The company ended the quarter with $342 million in cash and no external debt [4][23] Business Line Data and Key Metrics Changes - Retail segment delivered sales decreased by 3% to $202 million, impacted by prior year backlog deliveries [20] - Wholesale segment delivered sales increased by 5% to $351 million, driven by higher volume to external customers [20][21] - Joybird reported delivered sales of $35 million, down 3% year-over-year, but showed improved operating performance [21][16] Market Data and Key Metrics Changes - Same-store sales for company-owned retail declined by 3%, consistent with industry trends [7][19] - The overall furniture and home furnishings industry also saw a 3% decline in sales for the quarter [7] Company Strategy and Development Direction - The company is focused on its Century Vision strategy, aiming for top-line growth at double the market rate and consistent double-digit operating margins [9][25] - Plans to expand the La-Z-Boy Furniture Galleries network to approximately 400 stores over the next several years [10] - The company is enhancing its channel strategy to increase brand reach and improve customer access [12] Management Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in the furniture industry due to high mortgage rates and economic uncertainty but expressed optimism about potential Fed rate cuts stimulating demand [5][18] - The company expects continued challenges in the macro environment but remains confident in outperforming the market [26][18] Other Important Information - The company returned $42 million to shareholders through dividends and share repurchases [24] - Capital expenditures for the quarter were $16 million, primarily for retail store openings and upgrades [24] Q&A Session Summary Question: Traffic trends at retail during the quarter - Management noted that traffic remains challenged but strengthened around major holidays like Memorial Day [32][33] Question: Progress on restructuring and margin expectations - Management is making progress on margin improvements but noted delays in hiring and productivity in Mexico [34] Question: Changes in advertising plans due to demand - Management is continuously optimizing advertising spend in response to current consumer demand [35] Question: Competitive landscape and pricing - Management highlighted opportunities to gain market share due to industry consolidation and noted that input costs remain high [38][40] Question: Retail margins outlook - Management expects retail margins to improve in the second half of the year, typically the strongest period for the segment [41] Question: Drivers of wholesale segment sales increase - Management attributed the increase to a return of external customers and new partnerships, such as with Rooms To Go [42][44] Question: Impact of casegoods business on margins - Management confirmed that surcharges have been implemented to offset higher container rates, but there may be a temporary mismatch in costs [53]

La-Z-Boy Incorporated (LZB) posted decent first-quarter fiscal 2025 (ended Jul 27, 2024) results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same. The top line increased on a year-over-year basis, driven by increased delivered volume in the Wholesale segment. The company is committed to long-term investment despite near-term challenges in the furniture industry. Owing to the industry headwinds, it expects a modest improvement in second-quarter fiscal 2025 sales compared with ...

La-Z-Boy (LZB) came out with quarterly earnings of $0.62 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this furniture company would post earnings of $0.68 per share when it actually produced earnings of $0.95, delivering a surprise of 39.71%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. La-Z-Boy, which belongs to ...

Financial Performance - Consolidated delivered sales for the first quarter of Fiscal 2025 were $496 million, up 3% compared to the prior year[1]. - GAAP diluted EPS decreased to $0.61 from $0.63, while Non-GAAP diluted EPS remained at $0.62[6]. - Operating cash flow for the quarter was $52 million, doubling from $26 million in the same period last year[8]. - Sales for the quarter ended July 27, 2024, were $495,532, an increase of 2% from $481,651 in the same quarter last year[19]. - Gross profit for the quarter was $213,343, compared to $205,728 in the prior year, reflecting a gross margin improvement[19]. - Operating income decreased to $32,370 from $34,526 year-over-year, indicating a decline of approximately 6%[19]. - Net income attributable to La-Z-Boy Incorporated was $26,159, down from $27,479, representing a decrease of about 4.8%[19]. - Basic net income per share was $0.62, slightly down from $0.64 in the previous year[19]. - Consolidated operating income for the quarter was $32,370, a decrease of 6.3% from $34,526 in the same quarter last year[25]. - Non-GAAP operating income was $32,764, down from $33,751, reflecting a decline of 2.9% year-over-year[27]. - GAAP net income attributable to La-Z-Boy Incorporated was $26,159, compared to $27,479 in the previous year, representing a decrease of 4.8%[27]. - Diluted EPS for GAAP net income was $0.61, down from $0.63 in the same quarter last year[27]. - Non-GAAP net income attributable to La-Z-Boy was $26,453, slightly down from $26,945, a decrease of 1.8% year-over-year[27]. Segment Performance - Retail segment written sales increased 4%, but same-store sales decreased 3% due to lower traffic and softer demand[6]. - Wholesale segment sales rose 5% to $351 million, driven by higher delivered volume to external customers[7]. - Joybird's written sales increased 9%, while delivered sales decreased 3% to $35 million[7]. - Wholesale segment sales to external customers rose to $256,020, up 8.4% from $236,251 year-over-year[25]. - Retail segment sales decreased to $202,370, down 2.1% from $208,243 in the prior year[25]. - The wholesale segment's operating income margin was 6.8%, slightly down from 7.0% in the prior year[29]. - The retail segment's operating income margin decreased to 10.2% from 14.1% year-over-year[29]. Cash Flow and Shareholder Returns - La-Z-Boy returned approximately $42 million to shareholders, including $34 million in share repurchases and $8 million in dividends[8]. - The company ended the quarter with $342 million in cash and no external debt[8]. - Net cash provided by operating activities was $52,318, significantly higher than $25,913 in the same quarter last year[23]. - The company reported a net cash used for investing activities of $17,193, compared to $12,679 in the prior year[23]. Assets and Equity - Total current assets as of July 27, 2024, were $834,375, a decrease from $836,808 as of April 27, 2024[21]. - Total assets increased to $1,917,615 from $1,913,442, showing a slight growth[21]. - Total equity decreased to $1,010,476 from $1,013,360, indicating a slight decline in shareholder equity[21]. Future Outlook - The company expects second quarter sales to be in the range of $495-515 million, with Non-GAAP operating margin projected between 6-7%[2].

Fiscal 2025 First Quarter Highlights: Consolidated delivered sales of $496 million Up 3% versus prior year Wholesale segment sales increased 5% on growth to external customers Delivered sales and Non-GAAP(1) operating margin in line with guidance GAAP diluted EPS of $0.61 Non-GAAP(1) diluted EPS of $0.62 Generated $52 million in operating cash flow for the quarter MONROE, Mich., Aug. 20, 2024 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential ...