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]

Core Viewpoint - La-Z-Boy Incorporated (LZB) reported solid first-quarter fiscal 2025 results, with earnings meeting expectations and revenues exceeding estimates, driven by increased delivered volume in the Wholesale segment [1][4]. Financial Performance - Adjusted earnings for the quarter were 62 cents per share, aligning with the Zacks Consensus Estimate and the previous year's figures [4]. - Consolidated delivered sales reached $496 million, surpassing the consensus estimate of $486 million by 1.9% and increasing 3% from $482 million in the prior-year quarter [4]. Segment Performance - **Retail Segment**: Delivered sales decreased 3% to $202 million due to component shortages affecting backlog deliveries. However, written sales increased 4% year over year, driven by growth in new and acquired stores [5][6]. - **Wholesale Segment**: Sales rose 5% year over year to $351 million, supported by increased delivered volume to external customers, although partially offset by lower intercompany sales [7]. - **Corporate & Other**: Sales declined 3.4% year over year to $39 million, with Joybird's written sales increasing 9% year over year, while delivered sales fell 3% to $35 million [8]. Financial Position - As of July 27, 2024, the company had $342.3 million in cash and equivalents, a slight increase from $341.1 million at the end of fiscal 2024. Net cash from operations for the quarter was $52 million, compared to $26 million in the prior-year period [9]. Future Guidance - For the second quarter of fiscal 2025, the company anticipates delivered sales between $495 million and $515 million, compared to $511 million in the same quarter last year. The non-GAAP operating margin is expected to be in the range of 6-7%, down from 7.9% in the prior year [10]. Strategic Focus - The company remains committed to long-term investments despite short-term challenges in the furniture industry, aiming for modest sales improvement in the second quarter supported by seasonality. The Century Vision strategy focuses on expanding the Retail segment through enhanced in-store execution, new store openings, and acquisitions of independent La-Z-Boy Furniture Galleries [2][3].

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].

Financial Performance - Consolidated delivered sales for the first quarter of fiscal 2025 were $496 million, reflecting a 3% increase compared to the prior year [1][7] - The GAAP diluted earnings per share (EPS) was $0.61, down from $0.63 in the previous year, while Non-GAAP diluted EPS remained stable at $0.62 [1][7][28] - Operating cash flow for the quarter was $52 million, doubling the amount from the same period last year [1][10] Segment Performance - The Wholesale segment saw sales increase by 5% to $351 million, driven by higher delivered volume to external customers [9][26] - The Retail segment experienced a 4% increase in written sales, but same-store sales decreased by 3% due to lower traffic and softer demand [2][8] - The Retail segment's delivered sales decreased by 3% to $202 million, impacted by the prior year's backlog deliveries [8][9] Operating Margins - The GAAP operating margin for the consolidated results was 6.5%, down from 7.2% in the previous year, while the Non-GAAP operating margin decreased to 6.6% from 7.0% [1][7][30] - The Retail segment's GAAP operating margin was 10.2%, down from 14.1%, reflecting fixed cost deleverage [8][30] - The Wholesale segment's Non-GAAP operating margin increased to 6.9%, up 10 basis points from the previous year [9][30] Cash Flow and Shareholder Returns - The company generated $52 million in operating cash flow and returned approximately $42 million to shareholders, including $34 million in share repurchases and $8 million in dividends [10][11] - The company declared a quarterly cash dividend of $0.20 per share, payable on September 16, 2024 [11] Strategic Outlook - The company remains committed to its Century Vision strategy, focusing on long-term growth through investments in retail execution and store expansion [3][4] - Despite current macroeconomic challenges, the company expects modest sales growth in the second quarter of fiscal 2025, projecting sales between $495 million and $515 million [4][10]

Core Insights - The article emphasizes the importance of value investing as a successful strategy across various market conditions, focusing on fundamental analysis and traditional valuation metrics to identify undervalued stocks [2][3]. Company Analysis - LaZBoy (LZB) is highlighted as a strong value stock, currently holding a Zacks Rank of 1 (Strong Buy) and a Value grade of A, indicating its attractiveness to value investors [3][6]. - LZB's Price-to-Book (P/B) ratio is reported at 1.73, which is significantly lower than the industry average of 3.69, suggesting that the stock is undervalued [4]. - The P/B ratio for LZB has fluctuated between a high of 1.84 and a low of 1.26 over the past 12 months, with a median of 1.53, further supporting its valuation appeal [4]. - Additionally, LZB's Price-to-Cash Flow (P/CF) ratio stands at 7.25, compared to the industry average of 14.83, indicating a favorable valuation based on cash flow strength [5]. - The P/CF ratio for LZB has ranged from a high of 7.96 to a low of 5.68 in the past year, with a median of 7.15, reinforcing the notion of the stock being undervalued [5][6].

MONROE, Mich., Aug. 06, 2024 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE:LZB) will report its Fiscal 2025 First Quarter results for the period ended July 27, 2024 after the close of trading on the New York Stock Exchange on Tuesday, August 20, 2024, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, August 21, 2024. The dial-in phone number for the live conference call will be (888) 506-0062 for persons calling from within the U.S. or Canada, and ...

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits. One company to watch right now is LaZBoy (LZB) . LZB is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock holds a P/E ratio of 13, while its industry has an average P/E of 13.79. Over the past 52 weeks ...

Group 1 - La-Z-Boy (LZB) currently has a Momentum Style Score of B, indicating a positive momentum trend for the stock [2][13] - Over the past week, LZB shares have increased by 11.99%, outperforming the Zacks Furniture industry, which rose by 6.84% during the same period [4] - The stock has shown a monthly price change of 19.13%, significantly higher than the industry's performance of 0.94% [4] Group 2 - LZB's average 20-day trading volume is 656,463 shares, which serves as a bullish indicator when combined with rising stock prices [5] - Recent earnings estimate revisions have been positive, with the consensus estimate increasing from $2.80 to $3.13 over the past 60 days [12] - In the last quarter, LZB shares have increased by 20.58%, and over the past year, they have gained 39.12%, compared to the S&P 500's increases of 11.69% and 26.6%, respectively [11] Group 3 - The Zacks Rank for LZB is 1 (Strong Buy), suggesting strong potential for outperformance in the market [9][13] - The stock's performance metrics indicate that it is well-positioned to continue its upward trend, making it a promising pick for investors [10][13]

Company Overview - La-Z-Boy is part of the Consumer Discretionary group, which ranks 15 among 16 sector groups in the Zacks Sector Rank [1] - The company currently holds a Zacks Rank of 1 (Strong Buy), indicating strong potential for outperforming the market [2] Earnings Performance - The Zacks Consensus Estimate for La-Z-Boy's full-year earnings has increased by 11.8% over the past quarter, reflecting improved analyst sentiment [2] - Year-to-date, La-Z-Boy has returned approximately 8.2%, outperforming the average loss of 1.9% in the Consumer Discretionary group [3] Industry Comparison - La-Z-Boy belongs to the Furniture industry, which ranks 198 in the Zacks Industry Rank, with an average loss of 0.7% this year, indicating La-Z-Boy's relative strength [4] - In contrast, MGM Resorts, another stock in the Consumer Discretionary sector, has a year-to-date return of 2.6% and also holds a Zacks Rank of 1 [3][4] Market Outlook - The Consumer Discretionary sector is currently seeing strong performers, with La-Z-Boy and MGM Resorts being notable examples for investors to monitor [5][6]