Quarterly ResultJun 16, 2026, 04:22 PM
La-Z-Boy Q4 Sales Flat at $570.3M; Margins Improve; Divestitures Complete
AI Summary
La-Z-Boy Inc. reported flat fourth-quarter sales of $570.3 million, but saw significant improvements in operating margins and EPS, driven by strong retail segment performance and strategic initiatives. The company also announced the completion of divestitures and restructuring efforts, alongside a new $300 million share repurchase program. Full-year sales increased slightly to $2.1 billion.
Key Highlights
- La-Z-Boy reported Q4 FY26 sales flat at $570.3M, with GAAP operating margin at 7.2% and adjusted operating margin at 9.9%.
- GAAP diluted EPS was $0.81, and adjusted diluted EPS was $1.26, both including a $0.16 impact from favorable discrete tax items.
- Retail segment written sales increased 11% and delivered sales increased 9%; company-owned stores now represent 61% of the total network.
- Wholesale segment delivered sales down slightly, but adjusted operating margin improved.
- The company completed the strategic exit of American Drew and Kincaid wholesale casegoods businesses and finalized U.K. supply chain restructuring.
- A new share repurchase program authorizing up to $300 million of Company stock was established.
- For the full fiscal year 2026, consolidated sales were $2.1B, up 1% YoY, with GAAP diluted EPS of $2.47 and adjusted diluted EPS of $3.04.
- First quarter outlook projects sales between $490-510 million and adjusted operating margin of 4.0-5.5%.
Price Impact
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