La-Z-Boy Reports Record Full Year Operating Income and EPS

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Tuesday, 20 June 2023

MONROE, Mich., June 20, 2023 (GLOBE NEWSWIRE) — La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported solid fourth quarter and full year results for the period ending April 29, 2023.

Fourth Quarter 2023 Financial Highlights:

  • Consolidated sales of $561 million
    • -12% adjusting for the 53rd week in the fourth quarter of fiscal 2022, versus last year, which benefited from a strong backlog
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La-Z-Boy Faces Industry Pressures: Quarterly Earnings Report

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14 June, 2023

La-Z-Boy Set to Reveal Quarterly Earnings as Industry Challenges Loom

As the residential furniture market continues to face challenges, La-Z-Boy is set to release its earnings data after the close of trading on June 20th. Industry analysts expect the company’s earnings per share for the quarter to be around $0.73.

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Atlas Private Wealth Advisors Decreases Position in MillerKnoll Inc. Amidst Turbulent Market Conditions

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14 June, 2023

Atlas Private Wealth Advisors has recently revealed that they have decreased their position in MillerKnoll, Inc. (NASDAQ:MLKN) by 26.1% in the fourth quarter, as seen in their most recent Form 13F filing with the Securities & Exchange Commission. Their holdings in the company are now at 31,671 shares after they sold 11,197 shares during this period. The value of these holdings was worth $665,000 during the time of the filing.

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MillerKnoll : Knoll Debuts Refreshed Design Direction at MillerKnoll Design Days 2023

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13 June, 2023

East Greenville, PA., June 13, 2023 – Knoll will present its refreshed design direction in Chicago at MillerKnoll Design Days from June 12-14. The flagship Knoll showroom at 811 W. Fulton Market will feature a complete re-design, re-introductions of archival designs by Florence Knoll and Eero Saarinen, and new designs by Antenna Design and Dan Grabowski.

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La-Z-Boy Q4 revenue bests analysts’ estimates by $28 million

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13 June, 2023

MONROE, Mich. — Fourth quarter growth in its retail segment capped off La-Z-Boy Inc.‘s fiscal year, which generated records for both retail segment sales and consolidated earnings per share.

For the full year ended April 29, the company generated consolidated sales of $2.3 billion, up 2% when adjusting for the 53th week in the FY calendar. Sales in the retail segment jumped 22% to $982 million, with record operating profit and operating margin.

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La-Z-Boy playing offense to rise above volatility in the market

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13 June, 2023

MONROE, Mich. — From retail expansion to new concept tests, La-Z-Boy Inc. is making moves to out-perform the overall industry in the months ahead.

Coming off the company’s second consecutive year of record results despite a distrupted environment, La-Z-Boy executives struck a confident note during this morning’s quarterly investor call. And they outlined plans to pursue growth, even though the company expects the overall furniture industry’s sales this year to run flat to down.

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Flexsteel Industries, Inc. Announces Quarterly Dividend

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13 June, 2023

DUBUQUE, Iowa–(BUSINESS WIRE)–Flexsteel Industries, Inc. (NASDAQ:FLXS), announced its Board of Directors declared a quarterly dividend of $0.15 per share, payable July 10, 2023, to shareholders of record as of June 28, 2023.

Flexsteel has paid cash dividends on its common stock each year since 1938. This is the 326th consecutive quarterly cash dividend.

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Penn Capital Reduces Stake in Steelcase Inc. by 30.2%: Insider Sales Raise Investor Concerns

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12 June, 2023

On June 11, 2023, it was announced that Penn Capital Management Company LLC had reduced its stake in Steelcase Inc. by a staggering 30.2% in the fourth quarter. According to the disclosure with the Securities and Exchange Commission (SEC), Penn Capital owned approximately 0.21% of Steelcase worth $1,683,000 at the close of the most recent quarter after selling 102,976 shares during the period. While this news may have caused alarm for some investors in Steelcase Inc., there is more to this story.

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Virco Reports 8.7% Increase in First Quarter Revenue and 16.4% Increase in “Shipments + Backlog”

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12 June, 2023

TORRANCE, Calif., June 12, 2023 (GLOBE NEWSWIRE) — Virco Mfg. Corporation (NASDAQ: VIRC), the largest manufacturer and supplier of movable furniture and equipment for educational environments in the United States, today reported financial results for the quarterly period ended April 30, 2023 (first quarter of fiscal 2024).

Net Sales were $34.9 million for the first quarter of fiscal 2024, an 8.7% increase from $32.1 million for the same period of the prior fiscal year.

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Cactus Opens The Cash Flow Wellhead With Flexsteel Acquisition

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12 June, 2023

Cactus (NYSE:WHD) expected the acquisition of Flexsteel to be accretive in the first year, and the execs were more than right. The Q1 results were good enough but came with solid guidance for Q2, which is now improved. The company issued a new investor presentation outlining the company’s progress, and the progress is good.

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