Modest growth in second quarter for La-Z-Boy
21/11/2025
Retail written sales rose 4%, wholesale sales 2%, while same-store retail sales fell 2% but showed sequential improvement. The company opened five stores and closed three, reaching 15 openings and five closures over 12 months. GAAP operating margin was 6.9%, adjusted 7.1%, with diluted EPS of $0.70 GAAP and $0.71 adjusted. Operating cash flow tripled to $50 million, and the quarterly dividend rose 10% to $0.242.
La-Z-Boy acquired a 15-store southeast US network, adding an estimated $80 million in annual Retail sales, around $40 million net. It also announced exits from non-core Kincaid and American Drew casegoods and upholstery, the UK manufacturing site, and a leadership realignment.
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