La-Z-Boy Inc (LZB) said after close Tuesday that it earned $0.99 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $561.3 million, beating estimates by $28.3 million.
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.
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.
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.
MONROE, Mich., June 08, 2023 (GLOBE NEWSWIRE) — La-Z-Boy Incorporated (NYSE: LZB) will report its fiscal 2023 fourth quarter results after the close of trading on the New York Stock Exchange on Tuesday, June 20, 2023, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, June 21, 2023.
Davenport, May 10, 2023 (GLOBE NEWSWIRE) — Davenport, Iowa –
La-Z-Boy Furniture Galleries & Decor, a furniture store in Davenport, IA, and serves the Quad Cities area, is offering a full range of furniture, coupled with the assistance of their interior design professionals to ensure that homeowners can achieve their dream home. They provide the design services free of charge and this begins with a free consultation with a La-Z-Boy Interior Designer in-store, at home, or virtually. In this consultation, it is possible for the homeowner and designer to create a custom-tailored room plan that reflects the customer’s own personal style, preferences, and budget.
MONROE, Mich., May 02, 2023 (GLOBE NEWSWIRE) — Directors of La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, declared a quarterly cash dividend on the company’s common stock of $0.1815 per share. The dividend is payable June 15, 2023 to shareholders of record as of June 2, 2023.
On April 29, 2023, it was reported that Pacer Advisors Inc., an institutional investor, has increased its holdings in La-Z-Boy Incorporated by a staggering 28.8% during the fourth quarter of the previous year. The company now owns 265,569 shares of La-Z-Boy’s stock after purchasing an additional 59,404 shares within the period. This move has made Pacer Advisors Inc. own 0.62% of La-Z-Boy worth $6,060,000 as of their most recent filing with the Securities and Exchange Commission.
Ninety-five-year-old furniture brand La-Z-Boy has been in the midst of a major overhaul since 2021, when the company launched its Century Vision approach for strategic growth. Among the many goals is building a robust consumer insights ecosystem by 2027 that will allow the company to quickly adapt to changing shopping behavior and trends, remaining relevant and timely with consumers.
To do so, the company first needed to establish a consumer insights division, tapping two experts to lead the charge: Megan Battig, senior consumer insights manager, and Jorge Calvachi, director of consumer insights. They created a growth learning plan, identifying a strategy to learn who the consumer is, what they want, and how they shop.
Comerica Bank cut its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 22.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,113 shares of the company’s stock after selling 7,670 shares during the period. Comerica Bank owned approximately 0.06% of La-Z-Boy worth $695,000 as of its most recent SEC filing.
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