---
schema_version: "secwatch.filing_event.v1"
accession: "0000057131-23-000116"
form_type: "8-K"
ticker: "LZB"
cik: "0000057131"
company_name: "LA-Z-BOY INC"
filed_at: "2023-08-22T23:59:59+00:00"
generated_at: "2026-06-11T05:51:26.694080+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0000057131-23-000116
- form_type: 8-K
- ticker: LZB
- cik: 0000057131
- company_name: LA-Z-BOY INC
- filed_at: 2023-08-22T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/57131/000005713123000116/0000057131-23-000116-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/57131/000005713123000116/lzb-20230822.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000057131-23-000116
- JSON: https://secwatch.observer/filing/0000057131-23-000116.json
- Plain text: https://secwatch.observer/filing/0000057131-23-000116.txt

## Key facts
- Earnings Releases
  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
  source text: 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%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/57131/000005713123000116/0000057131-23-000116-index.htm
- Earnings Releases
  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
  source text: (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
  evidence_url: https://www.sec.gov/Archives/edgar/data/57131/000005713123000116/0000057131-23-000116-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.