La-Z-Boy's stock slumps 12% on revenue drop, earnings miss

La-Z-Boy Inc.’s stock slumped 12% in after-hours trading Tuesday after the company posted quarterly results that fell short of analysts’ revenue and earnings estimates. The furniture maker LZB, -0.74% reported fiscal third-quarter net income of $28.7 million, or 67 cents a share, compared with net income of $31.7 million, or 74 cents a share, in the same quarter a year ago. Revenue dropped 13% to $500.4 million, from $572.7 million in the year-ago quarter. Analysts surveyed by FactSet had expected on av ...