La-Z-Boy (NYSE: LZB) reported Q3 EPS of $0.74, $0.04 better than the analyst estimate of $0.70. Revenue for the quarter came in at $470.2 million versus the consensus estimate of $468.41 million.

Business Outlook:

Due to the unusual business trends driven by the pandemic, La-Z-Boy is updating the perspective previously provided for the fiscal 2021 fourth quarter. The company does not intend to provide this level of forward-looking perspective regularly.

Given the continued temporary impacts of COVID-19 on the company’s manufacturing facilities and broader supply chain, and comparing with a prior-year base period which included the month-long pandemic shutdown, La-Z-Boy now expects fiscal 2021 fourth-quarter consolidated sales growth of 34% to 39% versus the prior-year quarter, and consolidated non-GAAP operating margin at the lower end of the 9% to 11% range.

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