La-Z-Boy Incorporated Releases FY2024 Impact Report Highlighting Sustainability and Community Action

Corporate Strategy and Sustainability - La-Z-Boy Incorporated has released its fiscal year 2024 Impact Report, emphasizing sustainability as a core business principle integrated into its corporate strategy and operations [1] - The company's Century Vision strategy aims to elevate brand reach, strengthen enterprise capabilities, and drive profitable, sustainable growth leading up to its 100th anniversary in 2027 [5] - La-Z-Boy Incorporated has received SBTi validation for its near-term targets, including a 64% reduction in Scope 1 emissions, a 62% reduction in Scope 2 emissions, and a 51% reduction in Scope 3 emissions by fiscal year 2032, advancing toward its 2050 net-zero goal [6] Environmental and Operational Achievements - The company achieved a 96% recycling rate for all non-hazardous waste and a 20% year-over-year reduction in hazardous waste generation [6] - Renewable energy sources covered 75% of U.S. and 64% of global electricity consumption [6] - La-Z-Boy Incorporated adopted the TranZform Initiative across all manufacturing facilities, focusing on sustainability and employee empowerment through six core initiatives [6] Community and Social Impact - The La-Z-Boy Foundation donated over $1.4 million, and as the official furniture partner for Ronald McDonald House Charities, the company gifted over 16,000 pieces globally [6] - The company preserved, restored, and rewilded a 120-acre plot surrounding its World Headquarters in Monroe, Michigan, and planted a community garden that harvested 283 pounds of produce [6] Business Operations and Market Presence - La-Z-Boy Incorporated operates 193 company-owned La-Z-Boy Furniture Galleries® stores and is part of a broader network of over 350 stores nationwide, including La-Z-Boy.com [7] - Joybird®, an e-commerce retailer and manufacturer of modern upholstered furniture, has 12 stores in the U.S. [7] - The Wholesale segment includes manufacturing for Furniture Galleries® and other retail channels, with brands like England Furniture Co., Kincaid®, American Drew®, and Hammary® offering custom and casegoods furniture [7]