La-Z-Boy Incorporated Reports Strong Fourth Quarter Results Led By Retail Sales Growth And Broad-Based Margin Improvement; Finalizes Multiple Strategic Initiatives

La-Z-Boy Incorporated Reports Strong Fourth Quarter Results Led By Retail Sales Growth And Broad-Based Margin Improvement; Finalizes Multiple Strategic Initiatives

PR Newswire

MONROE, Mich., June 16, 2026

Fiscal 2026 Fourth Quarter Highlights:Retail segment written sales increased 11% and delivered sales increased 9%; GAAP and adjusted(1) operating margin improved versus prior yearCompany-owned network grew by four stores; 230 company-owned store base now represents 61% of total 378 store networkWholesale segment delivered sales down slightly, while adjusted operating margin improved versus prior yearGAAP operating margin of 7.2% and adjusted(1) operating margin of 9.9%, up 50 bps versus prior yearGAAP diluted EPS of $0.81 and adjusted(1) diluted EPS of $1.26Completed strategic exit of American Drew and Kincaid wholesale casegoods businesses in May (subsequent to quarter end) and finalized U.K. supply chain restructuring in AprilEstablished new share repurchase program authorizing the repurchase of up to $300 million of Company stock, replacing prior programFiscal 2026 Highlights:Delivered consolidated sales of $2.1 billion, up 1% versus prior yearRetail segment written sales increased 8% and delivered sales increased 6%Added 15 newly opened stores and acquired 15 independent La-Z-Boy stores (both the largest annual expansions in company history)Wholesale segment delivered sales were flat while delivering adjusted(1) operating margin improvementGAAP operating margin of 6.1% and adjusted(1) operating margin of 7.1%GAAP diluted EPS of $2.47 and adjusted(1) diluted EPS of $3.04Generated $204 million in operating cash flow for the year, up 9% versus prior yearStrong capital deployment with $163 million reinvested back into the business through acquisitions and capital expenditures and $85 million returned to shareholders through share repurchases and dividendsFifth consecutive year of increasing quarterly dividend by 10%MONROE, Mich., June 16, 2026 /PRNewswire/ -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, today reported fourth quarter results for the period ended April 25, 2026. For the quarter, sales totaled $570 million, flat against the prior year comparable period. Operating margin improved to 7.2% for the quarter on a GAAP basis and 9.9% on an adjusted(1) basis. Diluted earnings per share totaled $0.81 on a GAAP basis and $1.26 on an adjusted(1) basis, both including a $0.16 impact from favorable discrete tax items.