La-Z-Boy Q3 sales $500M, down 13% YoY; GAAP EPS $0.66, non-GAAP $0.67

LA-Z-BOY INC

2024-Q3 EPS reported $1.92 revenue$1,493,492,000

Consolidated sales $500M (-13% YoY); GAAP EPS $0.66 vs $0.74; non-GAAP EPS $0.67 vs $0.91.
Gross margin improved but fixed cost deleverage drove GAAP operating margin to 6.5% (down 100 bps).
Written same-store sales fell 6% network-wide; company-owned down 8% due to winter weather and soft traffic.
Acquired six independent stores; additional two-store acquisition planned in Q4; company-owned now 52% of network.
Q4 guidance: sales $505-535M, non-GAAP operating margin 7-8%; quarterly dividend $0.20/share declared.

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 0.9

LA-Z-BOY INC reported the fiscal quarter ended January 27, 2024 results: revenue $500 million, EPS $0.66.

Period: the fiscal quarter ended January 27, 2024
Revenue: $500 million
EPS: $0.66
Result: reported results

Exact text from the filing

La-Z-Boy Incorporated Reports Third Quarter Results La-Z-Boy Reports Fiscal 2024 Third Quarter Results • Consolidated delivered sales of $500 million ◦ Up 5% versus our most recent pre-pandemic third quarter ◦ Down 13% versus year ago period • Results impacted by winter weather events in January • Gross margin expansion on GAAP and Non-GAAP basis, across all segments • GAAP diluted EPS of $0.66 ◦ Non-GAAP diluted EPS of $0.67

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LA-Z-BOY INC reported the fourth quarter of fiscal 2024 results: revenue $505-535 million. Guidance initiated.

Period: the fourth quarter of fiscal 2024
Revenue: $505-535 million
Guidance: initiated
Result: guidance update

Exact text from the filing

For the fourth quarter of fiscal 2024, we expect delivered sales to be in the range of $505-535 million and Non-GAAP operating margin (1) to be in the range of 7-8%.

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Source: SEC EDGAR

accession 0000057131-24-000012

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