Furniture sales still down at La-Z-Boy, but recovery is likely

Residential furniture giant La-Z-Boy reported third-quarter sales of $470.1 million, a 1.2 percent decline over the same period last year. The company’s net income for the quarter fell to $29.2 million from $34.5 million.

The company’s wholesale segment decreased to $350.7 million from $364.8 million. Its retail segment sales were $165.9 million from $167.4 million.