La-Z-Boy Incorporated Reports First Quarter Results; Retail Momentum With Positive Written Same-Store Sales
La-Z-Boy (LZB) reported Q1 sales of $476M, down 3% YoY. Retail segment sales rose 16%, with same-store sales up 3%. GAAP EPS was $(0.06), while adjusted EPS was $0.43. The company expanded retail stores and plans to acquire more. Q2 sales are expected between $500M-$520M, with adjusted operating margin of 4.0%-5.5%.



