La-Z-Boy sales and earnings fall against strong year-ago comparisons

Thursday, 30 November 2023

MONROE, Mich. – Although La-Z-Boy’s sales fell 16% in in the second quarter, they landed on the high end of guidance, spurring the company to up its dividend 10%.

Sales for the quarter ended Oct. 28 totaled $511 million. They were up against a 6% increase in the year-ago quarter, which benefited from delivery of pandemic-related backlog orders. That year-ago comparison rippled across this year’s Q2 results.

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