LA-Z-BOY INC

La-Z-Boy completed the sale of a significant portion of its Casegoods wholesale business in fiscal 2026 and early fiscal 2027, alongside ceasing operations of its UK upholstery manufacturing business as part of a broader business realignment. The company also initiated a multi-year distribution and home delivery transformation project, reducing distribution centers by six. These strategic changes contributed to a $36.8 million decrease in inventory and a reduction of 400 employees, though growth in the Retail segment partially offset headcount reductions. Wholesale backlog declined to $74.9 million, reflecting lower consumer demand.

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.

La-Z-Boy Incorporated announced the sale of its American Drew and Kincaid wholesale casegoods businesses to Banner House. This divestment aligns with La-Z-Boy's strategy to focus on its core, vertically integrated North American upholstery business and advance its Century Vision strategy. The transaction is subject to customary closing conditions and is expected to finalize in mid-May.