La-Z-Boy to acquire 15-store network in Southeast; updates Q1 outlook to low end

LA-Z-BOY INC

Acquires 15 La-Z-Boy Furniture Galleries stores in GA, FL, TN with ~$80M annual sales; expected close late October 2025.
Brings company-owned store count to 220 or 60% of total network; deal funded with cash on hand.
Acquisition expected to contribute ~$40M additional annual sales on a consolidated basis; immediately accretive.
Fiscal Q1 sales and adjusted operating margin expected near low end of prior guidance due to challenging macro environment.

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