Fiscal 2025 Fourth Quarter Highlights: Consolidated delivered sales of $571 million Up 3% versus prior year Retail segment delivered sales increased 8% Company-owned La-Z-Boy Furniture Galleries® network grew by a total of six stores; 203 company-owned store base now represents 55% of total network Wholesale segment delivered sales increased 2%GAAP operating margin of 5.2%; adjusted(1) operating margin of 9.4%, flat versus the year ago periodGAAP diluted EPS of $0.36 and adjusted(1) diluted EPS of $0.92, bo ...

Financial Data and Key Metrics Changes - Total net sales for Q1 2026 were $138.4 million, reflecting a year-over-year increase of 4.3% despite a 5% decline in the overall category [5][31] - Adjusted EBITDA loss improved by double-digit percentages year-over-year, with net loss for the quarter at $10.8 million, or negative $0.73 per share, compared to a net loss of $13 million, or negative $0.83 per share, in the prior year [5][35] - SG&A expense as a percentage of net sales decreased to 48.5% from 51.6% in the prior year, driven by lower professional fees and higher net sales [33] Business Line Data and Key Metrics Changes - Showroom net sales increased by $14.9 million, or 18.2%, to $96.5 million, driven by a 2.8% increase in omni-channel comparable net sales and the addition of 21 new showrooms [31] - Internet net sales decreased by $3.3 million, or 8.9%, to $33.3 million, while other net sales, including pop-up shops, decreased by $5.8 million, or 40.5% [32] - Sactional net sales increased by 4.5%, while SAC net sales increased by 6.4%, and other net sales, including decorative pillows and accessories, decreased by 17.1% [32] Market Data and Key Metrics Changes - The overall market category is estimated to have declined by 5% for the comparable period, with the company gaining market share despite these headwinds [5][31] - The promotional environment remains aggressive, with competitors offering discounts around 40% to 45%, impacting gross margins [48] Company Strategy and Development Direction - The company is focused on leveraging its innovative product offerings and strong customer relationships to drive growth, even in a challenging category [14] - The launch of the EverCouch product platform is expected to significantly expand the company's total addressable market, with initial positive feedback from customers [9][10] - The company plans to enhance its marketing efforts and expand its showroom presence to support the new product launches [10][24] Management's Comments on Operating Environment and Future Outlook - Management noted that while the category trends are currently negative, they remain optimistic about future growth driven by new product launches and marketing strategies [38] - The company is actively working to mitigate tariff impacts and believes it can manage these within existing guidance [14][39] - Management expressed confidence in the long-term growth potential of the company, particularly as housing turnover and the replacement cycle for comfort seating are expected to improve [42] Other Important Information - The company ended its partnership with Best Buy, estimating a nonrecurring charge of approximately $2 million in Q2, while planning to expand its relationship with Costco [25][40] - The company has made significant progress in diversifying its manufacturing away from China, aiming for a more sustainable supply chain [66] Q&A Session Summary Question: Can you discuss the promotional environment and its impact on gross margins? - Management noted that discount levels remain high, with competitors offering significant promotions, but they are focusing on personalized promotions to drive showroom traffic and conversions [48][49] Question: What are the expectations for EverCouch sales and customer feedback? - Management indicated that it is too early to provide specific sales figures, but initial feedback has been positive, and internal goals are being exceeded [54][56] Question: Can you elaborate on the decision to exit the Best Buy partnership? - Management expressed excitement about new opportunities and emphasized the importance of expanding the Costco relationship, while acknowledging the benefits gained from the Best Buy partnership [60][62] Question: How are tariffs influencing manufacturing decisions? - Management stated that they are on a path to exit manufacturing in China entirely, focusing on producing closer to consumers for sustainability reasons [66][68] Question: How does the guidance account for new product performance? - Management clarified that the guidance does not overly rely on new products, as they can achieve targets even if core products remain flat [72][74] Question: How are price adjustments being considered in light of tariffs and promotions? - Management is continuously assessing pricing strategies, noting that their strong brand allows for surgical price increases without compromising competitive positioning [75][79]

Core Viewpoint - La-Z-Boy Incorporated is set to report its Fiscal 2025 Fourth Quarter results on June 17, 2025, with a subsequent investor conference call scheduled for June 18, 2025 [1] 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 [4] - The company operates nearly 200 company-owned La-Z-Boy Furniture Galleries stores and is part of a broader network of over 360 stores, including an e-commerce platform [5] Conference Call Details - The conference call will be webcast live, with slides available at the company's investor relations website [2] - Dial-in numbers for the live conference call are provided for both U.S./Canada and international callers, along with a participant access code [2] - An archive of the conference call will be available online for one year, with a telephone replay accessible for two weeks [3]

16 May 2025 | 8:37AM CST Man Wah Holdings (1999.HK) FY25 Earnings Review: Below-expected rev, OP beat but NP miss on fair value/impairment losses; Neutral Man Wah reported below-expected FY25 results. Total revenue/net profit in FY25 was HK$16,903mn/HK$2,063mn, down by 8%/10% yoy, which was -4%/-8% vs. GSe. This implies -9%/-21% revenue/profits yoy growth in 2H FY25, further weakened from -7%/0% yoy in 1H FY25. Revenue fell below expectations across all regions and major products, while profit miss was main ...

Company Overview - La-Z-Boy Incorporated is a global leader in the retail and manufacture of residential furniture, known for its iconic recliner invented in 1927 [2] - The company operates as a vertically integrated furniture retailer and manufacturer, emphasizing quality and consumer compassion [2] Financial Highlights - La-Z-Boy declared a quarterly cash dividend of $0.22 per share, to be paid on June 16, 2025, to shareholders of record as of June 3, 2025 [1] Retail and Wholesale Segments - The Retail segment includes nearly 200 company-owned La-Z-Boy Furniture Galleries stores, part of a network of over 360 stores nationwide, complemented by La-Z-Boy.com [3] - Joybird, an e-commerce retailer and manufacturer of modern upholstered furniture, operates 12 stores in the U.S. [3] - 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 [3]