Latest news with #MelindaWhittington
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.
Business Insider
3 days ago
- Business
- Business Insider
La-Z-Boy reports Q4 adjusted EPS 92c, consensus 93c
Reports Q4 revenue $570.87M, consensus $557.44M. Melinda Whittington, board chair, president and CEO of La-Z-Boy (LZB), said, 'Our fourth quarter results reflect the ongoing strengthening of our brand and operations under our Century Vision strategy. We executed well throughout the year with sales growth across all of our segments and four consecutive quarters of top line growth, even as the industry contends with depressed housing fundamentals and growing macro uncertainty. We are controlling what we can control with distinct strategies and initiatives across each of our businesses. In Retail, we continue to grow our direct-to-consumer business, own the entire end-to-end consumer experience, and develop more value-added consumer insights. Through opening net new stores and also acquiring existing independent La-Z-Boy Furniture Galleries, we reached a new milestone in the quarter, growing our company-owned store footprint to over 200 stores, nearly doubling our store count over the last 10 years, and now owning 55% of the total network. In Wholesale, we continue to expand our brand reach with compatible strategic partners to serve more consumers. Additionally, we are successfully driving scale and efficiencies in our supply chain. This is highlighted by our core North America La-Z-Boy wholesale business achieving sales growth and margin expansion for four consecutive quarters during fiscal 2025, and continuing to strengthen as we initiate our multi-year distribution and delivery redesign.' Confident Investing Starts Here:
Yahoo
13-02-2025
- Business
- Yahoo
La-Z-Boy Incorporated Named to Forbes' 2025 List of America's Best Large Employers
MONROE, Mich., Feb. 13, 2025 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the manufacture and retail of residential furniture, announced today that it has been recognized as one of America's Best Large Employers by Forbes for 2025. The list, produced in partnership with market research firm Statista, recognizes companies that excel across a broad spectrum of industries in six key dimensions: atmosphere and development, salary/wage, image, diversity, working conditions, and workplace environment. Forbes and Statista selected America's Best Employers in 2025 through an independent survey of over 217,000 U.S. employees working for companies with at least 1,000 employees nationwide. More than 6.5 million employer evaluations were considered, incorporating feedback from employees and the broader public. Personal evaluations provided by employees were weighted significantly higher than public evaluations from industry peers, friends, and family members. The organizations with the highest scores were named to the list. 'Our company is built on nearly a century of innovation, craftsmanship, integrity, and a deep commitment to our people,' said Melinda Whittington, La-Z-Boy Incorporated Board Chair, President and Chief Executive Officer. 'Being recognized as one of Forbes America's Best Large Employers is a testament to the passion and dedication of our employees, who bring our mission to life every day. This honor reinforces our efforts to foster an environment where our employees can thrive and shape the future of comfort.' The company's mission is rooted in its core values of courage, curiosity, and compassion. Through a focus on quality and a deep sense of purpose, La-Z-Boy Incorporated continues to deliver the transformational power of comfort—through its furniture and also in the way it supports its employees, customers, and communities. Over the past several years, La-Z-Boy Incorporated has prioritized employees' connectedness with the company, their physical safety and personal wellbeing, job performance, and career alignment. These focused efforts and investments in the workforce have contributed to overall performance, continuous learning, and business success. To learn more about the company's human-centered approach, read the 2024 Impact Report, released earlier this year. 'We are incredibly proud of our teams and remain committed to supporting their growth, well-being, and ability to make an impact every day,' said Katie Vanderjagt, La-Z-Boy Incorporated Vice President and Chief Human Resources Officer. 'We strive to create a workplace where people feel valued, respected, and inspired to bring their best selves to work. Being named to Forbes America's Best Large Employers list reflects our team's dedication to the core values that drive our culture and fuel our collective success.' To learn more about La-Z-Boy Incorporated and career opportunities, visit MEDIA CONTACT: Cara 734-598-0652 ABOUT LA-Z-BOY INCORPORATEDLa-Z-Boy Incorporated brings the transformational power of comfort to people, homes, and communities around the world - a mission that began when its founders invented the iconic recliner in 1927. Today, the company operates as a vertically integrated furniture retailer and manufacturer, committed to uncompromising quality and compassion for its consumers. The Retail segment consists of nearly 200 company-owned La-Z-Boy Furniture Galleries® stores and is part of a broader network of over 360 La-Z-Boy Furniture Galleries® that, with serve customers nationwide. Joybird®, an e-commerce retailer and manufacturer of modern upholstered furniture, has 12 stores in the U.S. In the Wholesale segment, La-Z-Boy manufactures comfortable, custom furniture for its Furniture Galleries® and a variety of retail channels, England Furniture Co. offers custom upholstered furniture, and casegoods brands Kincaid®, American Drew®, and Hammary® provide pieces that make every room feel like home. To learn more, please visit: in to access your portfolio
