La-Z-Boy Incorporated
32.31-0.95 (-2.86%)
Oct 29, 4:00:02 PM EDT · NYSE · LZB · USD
Key Stats
Market Cap
1.33BP/E (TTM)
14.82Basic EPS (TTM)
2.18Dividend Yield
0.03%Recent Filings
8-K
Annual meeting results
La-Z-Boy Incorporated held its 2025 Annual Meeting of Shareholders on August 26, 2025, with strong turnout from 38,994,270 of 41,167,047 eligible shares. All nine director nominees, including Erika L. Alexander and Matthew H. Baer, secured election with overwhelming majorities, though Lauren B. Peters faced the highest withheld votes at 2,559,149 shares. Shareholders ratified PricewaterhouseCoopers LLP as auditors for fiscal 2026 and approved executive compensation via advisory vote. Continuity intact.
8-K
Q1 sales dip, Retail growth
La-Z-Boy reported Q1 fiscal 2026 sales of $492 million, down 1% year-over-year, as Retail and Wholesale gains offset Joybird declines amid soft consumer demand. Retail written sales rose 5% with two new stores added, while Wholesale delivered 1% growth via margin expansion and Arizona hub transition; adjusted operating margin hit 4.8%. The company announced a 15-store Southeast acquisition closing late October, yet same-store sales fell 4%. Q2 sales guidance: $510-530 million.
10-Q
Q1 FY2026 results
La-Z-Boy's Q1 FY2026 sales dipped 0.7% y/y to $492.2M, yet operating income fell sharper at 32.1% to $22.0M amid higher distribution costs and retail expansion pressures, squeezing gross margin to 42.5% from 43.1%. Wholesale edged up 0.6% on pricing gains, while Retail grew 2.4% from acquisitions but saw margins slide to 6.3% due to fixed cost deleverage. Joybird volumes softened, widening Corporate losses. Cash dipped to $318.5M with $36.3M operating cash flow, offset by $18.5M capex; free cash flow stood at $17.8M (derived). No debt burdens a $200M facility extended to 2030. Share repurchases trimmed shares to 41.2M, backing $0.44 diluted EPS. Competition from e-commerce rivals tests pricing power.
8-K
La-Z-Boy acquires 15 stores
La-Z-Boy Incorporated signed an asset purchase agreement on July 14, 2025, to acquire 15 La-Z-Boy Furniture Galleries stores and four warehouses in Georgia, Florida, and Tennessee from Atlanta Furniture Galleries, LLC, generating ~$80 million in annual sales. The deal, the largest independent acquisition in company history, closes in late October 2025 and adds $40 million to consolidated sales, boosting company-owned stores to 220—60% of the network—while enabling southeast expansion. Yet, amid a tough macro environment, fiscal first quarter sales and adjusted operating margin now tilt toward the low end of prior guidance.
8-K
Credit facility extension announced
La-Z-Boy Incorporated extended its $200 million revolving credit facility maturity from October 15, 2026, to July 1, 2030, via a second amendment signed that day with Wells Fargo Bank. The deal boosts the incremental loan basket to $125 million, scraps the SOFR spread adjustment, and eases the fixed charge coverage ratio to 1.50 to 1.00. This secures longer-term liquidity. Yet covenants still bind flexibility.
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