La-Z-Boy Q2 beats guidance; dividend up 10%; same-store written sales +1%

LA-Z-BOY INC

2024-Q2 EPS reported $1.26 revenue$993,086,000

GAAP diluted EPS $0.63; Non-GAAP diluted EPS $0.74; sales $511M (-16% YoY) at high end of guidance.
Written same-store sales for La-Z-Boy Furniture Galleries network increased 1%; retail segment written sales +3%.
Dividend increased 10% to $0.20/share; payable Dec 18, 2023 to holders of record Dec 11, 2023.
Year-to-date operating cash flow $57M, up 84% YoY; no external debt; $333M cash balance.
Q3 guidance: sales $515-535M, non-GAAP operating margin 7-8%; acquired a 6-store network in Midwest.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LA-Z-BOY INC reported the fiscal quarter ended October 28, 2023 results: revenue $511,435, net income $27,199, EPS $0.63.

Period: the fiscal quarter ended October 28, 2023
Revenue: $511,435
Net income: $27,199
EPS: $0.63
Result: reported results

Exact text from the filing

operating margin (1) to be in the range of 7-8%." Key Results: (Unaudited, amounts in thousands, except per share data) Quarter Ended 10/28/2023 10/29/2022 Change Sales $ 511,435 $ 611,332 (16)% GAAP operating income 33,612 61,883 (46)% Non-GAAP operating income 40,510 61,146 (34)% GAAP operating margin 6.6% 10.1% (350) bps Non-GAAP operating margin 7.9%

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Source: SEC EDGAR

accession 0000057131-23-000151

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