Description

La-Z-Boy’s Pivotal Restructuring — Joybird Manufacturing Comes Home!

La-Z-Boy, Inc. reported mixed results for the fiscal 2027 first quarter, reflecting continued progress in its retail segment alongside challenges in wholesale and its Joybird business. The company demonstrated strength in its retail operations, with written sales up 16% and same-store sales increasing 3%, marking a sequential improvement. This growth was driven by acquired and new stores, in-store execution, marketing, product innovation, and design sales. Retail delivered sales rose 10%, contributing positively to the adjusted operating margin, which increased slightly from 6.3% to 6.5%. The retail footprint expanded with four new company-owned stores added, increasing the total to 234, representing 62% of the network, and an additional two-store acquisition pending. Conversely, consolidated enterprise sales declined 3% as reported, or 1% excluding the Casegoods divestiture completed in May.