La-Z-Boy Q1 FY27: GAAP EPS -$0.06, adj EPS $0.43; retail written sales +16%

LA-Z-BOY INC

Sales $475.7M, down 3% YoY; ex-casegoods divestiture down 1%; GAAP op margin -0.4%, adj 3.9%.
Retail delivered sales +10% to $229M; written same-store sales +3%, 500bps sequential improvement.
Wholesale sales -9% to $323M (down 5% ex-divestiture); Joybird written sales -17%.
Q2 FY27 guidance: sales $500-520M, adj op margin 4.0-5.5%; dividend $0.242/share payable 9/15/26.
Returned $34.8M to shareholders (repurchases $25.1M, dividends $9.7M); cash $267M, no debt.

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