Purple Innovation, Inc. announced that its Chief Financial Officer, Todd Vogensen, will depart the company on May 1, 2026. Robert (Bob) Lucian, former CFO of La-Z-Boy Incorporated, has been appointed as the new Chief Financial Officer, effective April 27, 2026. Lucian brings extensive financial and operational leadership experience from consumer businesses, including his prior roles at La-Z-Boy, Coty, and Procter & Gamble.
M&T Bank Corp has acquired 494,569 shares of La-Z-Boy Incorporated (NYSE:LZB) worth approximately $18.43 million, establishing a 1.20% ownership stake. This purchase comes as La-Z-Boy reported strong Q4 earnings, beating analyst estimates with an EPS of $0.61 and revenue of $541.6 million, and declared a quarterly dividend of $0.242 per share. The company maintains a "Moderate Buy" consensus rating from analysts with an average target price of $42.50.
La-Z-Boy Incorporated is selling its American Drew and Kincaid wholesale casegoods businesses to Banner House as part of a portfolio optimization strategy. This move aims to sharpen La-Z-Boy's strategic focus on its core vertically integrated North American upholstery operations and align with its Century Vision strategy, concentrating on whole-home product offerings through its retail network. The acquisition strengthens Banner House's presence in the home furnishings sector by adding two established brands.
