La-Z-Boy sales hit by hurricanes
For the six months ended President and CEO Kurt Darrow said, "Our results for the second quarter were impacted by a number of factors, most notably the supply chain issues resulting from Hurricanes Katrina and Rita, the restructuring charge and a softer-than-expected retail environment.”
For the fiscal second quarter, sales in the company's upholstery group - which includes companies such as Bauhaus, Centurion, Clayton Marcus, England, La-Z-Boy, and Sam Moore - decreased $60.4 million, or 15.9%, compared with the prior-year period, and the operating margin decreased to 3.9% from 7.2% in the prior-year quarter.