Latest news with #LaZBoy
CBS News
5 hours ago
- Entertainment
- CBS News
National Park Service site in Monroe hosts grand opening at new visitor center
An official celebration of a major update to River Raisin National Battlefield Park takes place Saturday and Sunday in Monroe, Michigan. The park retells and interprets the January 1813 battles of the War of 1812 that were fought in Southeast Michigan and the historical context of the times. The battles were a victory for Tecumseh's Confederation and the British, and a significant defeat for the Americans. The Battlefield was originally part of the Monroe County park system, and was transferred in 2010 to the National Park Service. The visitor center moved in recent years from its original location on East Elm Avenue near I-75 to an existing building a half-mile away at 333 North Dixie Highway. With the move to a larger venue and significant renovations to what was once an ice sports arena, the education center's historical displays were expanded and updated. One of the exhibits at River Raisin National Battlefield Park in Monroe, Michigan, is this Native American long home replica, on display inside the visitor center. Paula Wethington "With the help of La-Z-Boy, the State of Michigan, the Wyandotte Nation, the The City of Monroe, Michigan and many partners, donors and members of the Foundation, we are ready to share the stories of the River Raisin with the public," the River Raisin National Battlefield Park Foundation posted on its social media. "Join us for a celebration for our community and its support for creating a world-class education center." The current exhibits focus on Great Lakes history, Native Americans, the Battles of the River Raisin and the early 1800s French Town settlement in what is now Monroe. Annual events include a POW-MIA Day ceremony and flag display, French Noel and the Battles of the River Raisin commemoration. The Grand Opening events begin with a ticketed gala Friday night, and will continue Saturday and Sunday. The visitor center will be open to the public from 9 a.m. to 5 p.m. Saturday with a ceremony at 10 a.m., ribbon cutting at noon, and performances by the 126th U.S. Army Band Saxophone and Piano Jazz Duet in the afternoon. The center also will be open to the public 9 a.m. to 5 p.m. Sunday, with the La Compagnie Musical Dance Troupe giving a performance in the afternoon.
Yahoo
15 hours ago
- Business
- Yahoo
LZB Q1 Deep Dive: Retail Expansion and Supply Chain Initiatives Shape Outlook
Furniture company La-Z-Boy (NYSE:LZB) reported Q1 CY2025 results topping the market's revenue expectations , with sales up 3.1% year on year to $570.9 million. The company expects next quarter's revenue to be around $500 million, close to analysts' estimates. Its non-GAAP profit of $0.92 per share was 1.1% below analysts' consensus estimates. Is now the time to buy LZB? Find out in our full research report (it's free). Revenue: $570.9 million vs analyst estimates of $558.6 million (3.1% year-on-year growth, 2.2% beat) Adjusted EPS: $0.92 vs analyst expectations of $0.93 (1.1% miss) Revenue Guidance for Q2 CY2025 is $500 million at the midpoint, roughly in line with what analysts were expecting Operating Margin: 5.2%, down from 9.1% in the same quarter last year Market Capitalization: $1.56 billion La-Z-Boy's first quarter delivered sales growth amid a challenging consumer environment, with management highlighting the benefits of new store openings and acquisitions, particularly in the Retail segment. CEO Melinda Whittington credited the company's 'vertically integrated model and agile supply chain' for enabling continued growth despite persistent economic and industry volatility. Management noted that while company-owned store sales rose, same-store sales declined, reflecting broader consumer caution. The quarter's performance was further shaped by targeted pricing actions and swift operational responses to supply chain disruptions, including storm-related factory damage. CFO Taylor Luebke emphasized that improved sourcing and lower input costs helped offset tariff impacts and cost pressures. Looking forward, La-Z-Boy's outlook is anchored by ongoing expansion of its direct-to-consumer retail footprint and a multiyear project to redesign its distribution and home delivery network. Management anticipates that continued consumer uncertainty will weigh on near-term demand, particularly impacting the Joybird online channel, but expects long-term benefits from operational investments and a refreshed brand identity. Whittington described the upcoming distribution redesign as key to supporting growth, saying it will 'cut time out of the system and less miles on product as well.' The company remains focused on agility in responding to trade policy shifts and cost inflation while maintaining prudent investment in both new stores and supply chain capabilities. Management attributed the quarter's performance to retail network growth, improved supply chain execution, and targeted pricing actions to mitigate tariff and cost pressures. Retail network expansion: New store openings and acquisitions in the company-owned Retail segment drove growth, with 11 new stores and 7 acquisitions completed over the past year. Management emphasized that direct ownership allows La-Z-Boy to control the end-to-end consumer experience and collect valuable customer insights, supporting its Century Vision strategy. Supply chain agility: The company's predominantly U.S.-based manufacturing footprint and Mexican cut-and-sew facilities allowed it to minimize tariff exposure and maintain speed to market. Management cited its quick recovery from a storm-damaged Arkansas facility as evidence of operational resilience, with only a one-week production loss. Joybird channel divergence: While physical Joybird stores showed relative strength, online sales for this segment declined. Management attributed this to greater macroeconomic sensitivity among Joybird's younger, urban customer base and is adjusting store growth plans accordingly, with 3–4 new stores planned for the coming year. Margin management: Adjusted operating margins were supported by lower input costs and improved sourcing, but offset by higher fixed costs from new store openings and incremental tariff expenses. CFO Luebke noted that continued investment in distribution redesign is expected to provide further margin benefits over time. Brand strategy evolution: La-Z-Boy is set to launch a refreshed brand identity, with updated look and tone to increase relevance in digital channels. This is part of a broader effort to modernize the brand and reach new audiences, building on the success of its 'Long Live the Lazy' campaign. La-Z-Boy's outlook is shaped by a cautious consumer environment, continued investment in retail and supply chain, and efforts to manage industry-wide cost pressures. Distribution network overhaul: The multiyear redesign of La-Z-Boy's distribution and home delivery system is expected to drive efficiency gains, reduce warehouse overhead, and improve delivery times. Management believes this project is essential for reaching long-term double-digit wholesale margins and supporting a growing retail footprint. Tariff and trade policy management: The company is actively monitoring global trade developments and leveraging its U.S.-centric supply chain to mitigate new tariffs. Targeted, nominal pricing actions and inventory strategies are in place to offset cost impacts, but management remains cautious about potential effects on consumer demand. Retail expansion and brand refresh: Continued investment in new company-owned stores and the upcoming brand identity update are central to management's growth strategy. The ability to control the in-store experience and adapt marketing for digital audiences is seen as key to gaining share in a fragmented market, though higher fixed costs and cautious consumers may present near-term challenges. In the coming quarters, the StockStory team will be watching (1) the pace and effectiveness of La-Z-Boy's distribution network redesign, (2) ongoing performance of new and acquired company-owned stores, and (3) the impact of the brand refresh on customer engagement and sales trends. Additionally, developments in tariff policy and the trajectory of consumer demand will be pivotal in assessing the company's execution against its Century Vision strategy. La-Z-Boy currently trades at $38.19, down from $38.79 just before the earnings. Is the company at an inflection point that warrants a buy or sell? Find out in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
Yahoo
a day ago
- Business
- Yahoo
La-Z-Boy Projects Sequential Decline in Fiscal First-Quarter Sales Amid Continued Industry Volatility
La-Z-Boy (LZB) projected lower fiscal first-quarter sales compared with the prior three-month period Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
La-Z-Boy Inc (LZB) Q4 2025 Earnings Call Highlights: Strong Sales Growth Amid Economic Challenges
Consolidated Delivered Sales: $571 million for Q4, up 3% year-over-year; $2.1 billion for the fiscal year, up 3% year-over-year. Retail Segment Sales: Increased 8% in Q4, driven by new stores and acquisitions. Wholesale Segment Sales: Grew 2% in Q4, led by core North American business. Operating Cash Flow: $187 million for the fiscal year, up 18% year-over-year. Adjusted Operating Income: $54 million for Q4, up 3% year-over-year; $161 million for the fiscal year, up 1% year-over-year. Adjusted Operating Margin: 9.4% for Q4; 7.6% for the fiscal year. Adjusted Diluted EPS: $0.92 for Q4; $2.92 for the fiscal year. Cash and No Debt: $328 million in cash with no external debt. New Store Openings: 11 new company-owned stores opened during the fiscal year. Shareholder Returns: $113 million returned through share repurchases and dividends, including a 10% dividend increase. Joybird Sales: Decreased 21% in Q4; sales increased 5% for the fiscal year. Same-Store Sales: Written same-store sales for the retail segment decreased 5% in Q4. Warning! GuruFocus has detected 3 Warning Sign with LZB. Release Date: June 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. La-Z-Boy Inc (NYSE:LZB) reported strong fourth-quarter results with consolidated delivered sales of $571 million, a 3% increase compared to the previous year. The retail segment sales grew by 8%, driven by new stores and acquisitions, highlighting the success of their direct-to-consumer growth strategy. La-Z-Boy Inc (NYSE:LZB) opened its 200th company-owned store, now owning 55% of the total network, which strengthens their market presence. The company generated $187 million in operating cash flow for the year, an 18% increase from the prior year, and returned $113 million to shareholders through share repurchases and dividends. La-Z-Boy Inc (NYSE:LZB) maintains a strong balance sheet with $328 million in cash and no external debt, providing financial stability and flexibility for future investments. Written same-store sales for the retail segment decreased by 5% compared to the prior year's fourth quarter, indicating challenges in maintaining consistent sales growth. Joybird, a digitally native brand under La-Z-Boy Inc (NYSE:LZB), experienced a 21% decrease in written sales for the quarter, reflecting the impact of rising macroeconomic uncertainty on consumer behavior. The wholesale segment faced challenges with a significant customer transition in the international business, impacting margins and requiring strategic adjustments. The effective tax rate increased to 31.4% for the fiscal year, primarily due to a nondeductible goodwill impairment charge related to the UK business. The company anticipates continued challenges in the macroeconomic environment, which could impact consumer spending and overall industry growth in the near term. Q: Can you discuss the potential for the wholesale segment to reach a 10% margin and the factors contributing to this goal? A: Taylor Luebke, Senior Vice President, Chief Financial Officer, explained that achieving a 10% margin in the wholesale segment is part of their long-term Century Vision strategy. This includes a distribution and home delivery redesign project, which is expected to contribute significantly. However, reaching this goal also depends on a healthy industry environment, particularly a robust housing market. Q: Why is La-Z-Boy undertaking a distribution network redesign now? A: Melinda Whittington, President, Chief Executive Officer, Director, stated that the redesign is driven by recent acquisitions and the need for efficiency. The project aims to reduce warehouse overhead, optimize routes, and improve delivery experiences, ultimately enhancing service levels and reducing costs. Q: How did La-Z-Boy's sales outperform expectations despite a challenging start to the quarter? A: Melinda Whittington noted that despite a tough February, the company executed well, focusing on consumer satisfaction and business partner collaboration. This led to stronger-than-expected sales by the end of the quarter, even amid increased macroeconomic challenges. Q: What impact did tariffs have on La-Z-Boy's financials, and how is the company addressing this? A: Taylor Luebke mentioned that while tariffs did have an impact, La-Z-Boy mitigated this through nominal pricing actions and strategic inventory management. The company remains agile to respond to any changes in trade policy, focusing on minimizing consumer impact. Q: What is the long-term plan for Joybird stores, considering the current economic challenges? A: Melinda Whittington expressed confidence in Joybird's potential, noting plans to open three to four new stores this year. While the brand is still young and faces challenges, there is potential to exceed the initial goal of 25 stores, with a focus on prudent growth and optimizing the consumer experience. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
La-Z-Boy (LZB) Lags Q4 Earnings Estimates
La-Z-Boy (LZB) came out with quarterly earnings of $0.92 per share, missing the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -1.08%. A quarter ago, it was expected that this furniture company would post earnings of $0.67 per share when it actually produced earnings of $0.68, delivering a surprise of 1.49%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. La-Z-Boy , which belongs to the Zacks Furniture industry, posted revenues of $570.87 million for the quarter ended April 2025, surpassing the Zacks Consensus Estimate by 2.21%. This compares to year-ago revenues of $553.53 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. La-Z-Boy shares have lost about 10.7% since the beginning of the year versus the S&P 500's gain of 2.6%. While La-Z-Boy has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for La-Z-Boy: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.64 on $502.4 million in revenues for the coming quarter and $3.23 on $2.16 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Furniture is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Bassett Furniture (BSET), is yet to report results for the quarter ended May 2025. This furniture seller is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +179%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Bassett Furniture's revenues are expected to be $81.2 million, down 2.7% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report La-Z-Boy Incorporated (LZB) : Free Stock Analysis Report Bassett Furniture Industries, Incorporated (BSET) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
