La-Z-boy, Inc. (NYSE: LZB) reported Q1 EPS of $0.20, $0.01 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $327 million versus the consensus estimate of $321.28 million.

Business Outlook

Darrow concluded, "We are confident we have a solid strategy in place to drive long-term profitable growth. The La-Z-Boy brand is the strongest in the furniture industry, our branded distribution network is vast, including more than 900 locations, and we have a unique multi-channel network, where we sell through both the branded channel and to a large and varied dealer base. Our 4-4-5 store growth strategy has great potential, and we are investing in the company across multiple areas to deliver future performance. Importantly, as our retail network grows, we will leverage the efficiencies of our lean manufacturing operations and deliver ongoing results through our integrated retail model."

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