La-Z-Boy Q1 sales down 20% to $482M, EPS $0.63; Q2 outlook $490-$510M

LA-Z-BOY INC

2024-Q1 EPS reported $0.63 revenue$481,651,000

GAAP diluted EPS $0.63 vs $0.89 YoY; non-GAAP $0.62 vs $0.91.
Consolidated sales $482M, down 20% YoY, on lower volume vs elevated pandemic backlog.
Owned Retail written same-store sales +2%; total written sales +8% from new/acquired stores.
Resumed share buybacks with $10M repurchases; quarterly dividend unchanged at $0.1815/share.
Q2 guidance: sales $490-$510M, operating margin 6.5%-7.5%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

LA-Z-BOY INC reported second quarter of fiscal 2024 results: revenue $490-$510 million. Guidance initiated.

Period: second quarter of fiscal 2024
Revenue: $490-$510 million
Guidance: initiated
Result: guidance update

Exact text from the filing

we expect fiscal second quarter sales to be in the range of $490-$510 million and operating margin (3) to be in the range of 6.5%-7.5%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LA-Z-BOY INC reported the fiscal quarter ended July 29, 2023 results: revenue $482 million, EPS $0.63.

Period: the fiscal quarter ended July 29, 2023
Revenue: $482 million
EPS: $0.63
Result: reported results

Exact text from the filing

(NYSE: LZB), a global leader in the manufacture and retail of residential furniture, today reported first quarter results for the period ended July 29, 2023. Sales totaled $482 million, in line with guidance of $470 to $490 million, and a decrease of 20% against a year ago period that benefited from delivery of pandemic related backlog. Company owned Retail

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Source: SEC EDGAR

accession 0000057131-23-000116

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