La-Z-Boy (LZB) Tops Q1 EPS by 31c, Revenues Miss

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Go back to La-Z-Boy (LZB) Tops Q1 EPS by 31c, Revenues Miss

La-Z-Boy Reports Fiscal 2021 First-Quarter Results

August 18, 2020 4:15 PM EDT

MONROE, Mich., Aug. 18, 2020 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today reported its operating results for the fiscal 2021 first quarter ended July 25, 2020.

Fiscal 2021 first quarter versus Fiscal 2020 first quarter:

  Consolidated sales decreased 31.0% to $285.5 million, reflecting ongoing COVID-19 impact  Written same-store sales for the entire La-Z-Boy Furniture Galleries® network increased 14.8%  Consolidated operating margin:

GAAP: 1.5% versus 5.7%Non-GAAP(1): 3.1% versus 6.3%  Wholesale(2): 9.4% versus 9.5%  Retail: (6.8)% versus 6.0%

  Net income attributable to La-Z-Boy Incorporated per diluted share (EPS):

GAAP:  $0.10 versus... More