---
schema_version: "secwatch.filing_event.v1"
accession: "0000057131-24-000012"
form_type: "8-K"
ticker: "LZB"
cik: "0000057131"
company_name: "LA-Z-BOY INC"
filed_at: "2024-02-20T23:59:59+00:00"
generated_at: "2026-06-05T23:31:57.308500+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000057131-24-000012
- form_type: 8-K
- ticker: LZB
- cik: 0000057131
- company_name: LA-Z-BOY INC
- filed_at: 2024-02-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/57131/000005713124000012/0000057131-24-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/57131/000005713124000012/lzb-20240220.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000057131-24-000012
- JSON: https://secwatch.observer/filing/0000057131-24-000012.json
- Plain text: https://secwatch.observer/filing/0000057131-24-000012.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/57131/000005713124000012/0000057131-24-000012-index.htm
- Earnings Releases
  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
  source text: 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%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/57131/000005713124000012/0000057131-24-000012-index.htm

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