La-Z-Boy's Accretive Expansion Strategy Is Undervalued

La-Z-Boy Builds Growth on Strategic Store Expansion In FY2024 alone, La-Z-Boy spent $39.4 million to acquire 11 previously independent Furniture Galleries stores. From FY2013 forward, a total of $254 million has been spent on cash acquisitions. The company also opened six new company-owned stores during FY2024, spending $53.6 million on capital expenditures, partly to fuel organic store network expansion in addition to the acquisitions. Despite the investments, La-Z-Boy has been left with a good amount of c ...