secwatch.observer — SEC 8-K summary
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Issuer:     LA-Z-BOY INC (LZB)
CIK:        0000057131
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0000057131-24-000012
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/57131/000005713124000012/0000057131-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/57131/000005713124000012/lzb-20240220.htm
  HTML page:      https://secwatch.observer/filing/0000057131-24-000012

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