La-Z-Boy sees Q3 revenue $505M-525M , consensus $512.27M

Bob Lucian, Chief Financial Officer of La-Z-Boy (LZB) Incorporated, said, “Our strong performance in the quarter is another proof point of controlling what we can control and driving positive outcomes in a challenged industry. We outperformed our guidance with strong performance particularly around the Labor Day holiday, impressive execution, and a resolute focus on improving the agility of our operations. Furniture and home furnishings related spending continues to be soft, but we are outperforming the industry in a sustainable manner. Our expectation is for industry sales trends to remain under pressure, though we expect our growth to continue to outpace the industry. Taking those factors into account, we expect fiscal third quarter sales to be in the range of $505-525 million an increase of 1-5% year-over-year and Non-GAAP operating margin to be in the range of 6-7%.”