La-Z-Boy Incorporated ( (LZB) ) has released its Q3 earnings. Here is a breakdown of the information La-Z-Boy Incorporated presented to its investors.
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La-Z-Boy Incorporated, a global leader in the retail and manufacture of residential furniture, recently announced its fiscal 2025 third-quarter financial results, showcasing a notable performance across its business segments. The company, known for its iconic recliners, operates in the furniture industry with a vertically integrated model that covers both retail and manufacturing sectors.
The third-quarter results highlighted a 4% increase in consolidated sales, totaling $522 million, reflecting robust growth across all segments. The company reported a GAAP and Non-GAAP diluted earnings per share (EPS) of $0.68, with an operating margin improvement of 20 basis points compared to the previous year. The Retail segment, in particular, saw an 11% rise in sales, driven by same-store sales increases and strategic acquisitions.
Key financial metrics included a 15% rise in written sales for company-owned La-Z-Boy Furniture Galleries, with same-store sales up by 7%. The Wholesale segment also saw a 2% increase in sales, supported by the core North America La-Z-Boy brand. Additionally, the Joybird brand experienced a 10% growth in written sales, contributing to a 9% rise in delivered sales.
La-Z-Boy’s management remains optimistic about future prospects, aiming to continue outperforming the industry despite challenging macroeconomic conditions. The company plans to focus on expanding its Retail segment and enhancing its Wholesale distribution, expecting fourth-quarter sales to range between $545 million and $565 million, with an anticipated Non-GAAP operating margin of 8.5% to 9.5%.
