La-Z-Boy reported first quarter results for fiscal year 2026 with total sales of $492 million, reflecting growth in retail and wholesale segments.
Retail segment saw a 5% increase in written sales, while wholesale segment delivered sales grew by 1%.
The company announced a 15-store acquisition and successfully transitioned the Arizona distribution center to a new West Coast hub.
Sales Performance
Total sales for the quarter were $492 million, with retail segment sales up by 5% and wholesale segment sales increasing by 1%.
Margin Growth
GAAP operating margin was 4.5% for the quarter, with adjusted operating margin at 4.8%, showing improvement in margin performance.
Acquisition Strategy
Announcement of a 15-store acquisition in the Southeast region, highlighting the company's growth initiatives and expansion plans.
Financial Highlights
Diluted EPS was $0.44 on a GAAP basis and $0.47 on an adjusted basis, with $36 million generated in operating cash flow for the quarter.
- La-Z-Boy's strategic investments in Retail and Wholesale segments led to margin expansion and sales growth.
- The company's performance was influenced by industry challenges and adjustments in operations to navigate the current market environment.
La-Z-Boy's diversified growth strategies and focus on strengthening the core business position it for long-term success despite industry challenges. The company's solid financial performance and strategic initiatives demonstrate resilience and potential for future growth.