La-Z-Boy reports record Q1 sales $524.8M (+84%); EPS $0.54; boosts buyback authorization

LA-Z-BOY INC

2022-Q1 EPS reported $0.54 revenue$524,783,000

Consolidated sales $524.8M (+84% YoY); GAAP EPS $0.54 vs $0.10; non-GAAP EPS $0.55 vs $0.18.
Wholesale segment sales $393.5M (+76% YoY); non-GAAP operating margin 4.7% vs 9.4% on cost pressures.
Retail delivered sales $181.8M (+100% YoY); non-GAAP operating margin 11.2% vs -6.8%.
Joybird delivered sales $38.7M (+188% YoY); written sales +31%.
Board increased share repurchase authorization by 6.5M to 9M shares (~$320M); $0.15 quarterly dividend declared.

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