$LZB (La-Z-Boy Incorporated)

$LZB {{ '2016-06-21T20:46:53+0000' | timeago}} • Announcement

CEO Kurt Darrow said $LZB remains optimistic about its business. The company expects its growth initiatives would drive continued increases in sales and earnings while $LZB invests in the business to provide long-term sustainable growth and earnings momentum, Darrow added.

$LZB {{ '2017-06-21T13:43:49+0000' | timeago}} • Webcast

$LZB said that on the company's e-commerce platform, the company is feeling good about the progress it is making and is investing much in its digital presence. $LZB added that its traffic and time on the site is also improving.

$LZB {{ '2017-06-21T13:24:05+0000' | timeago}} • Webcast

$LZB expects increased CapEx spending in FY18 related to machine and equipment and expansions to the company's England plans, along with the new corporate office building to replace the one lost in last month's fire.

$LZB {{ '2017-06-21T12:56:56+0000' | timeago}} • Webcast

$LZB's Upholstery segment posted its highest quarterly operating margin performance in a decade of 13.5% in 4Q17. This performance was driven by productivity improvements coming from the company's ERP system. On the expense side, $LZB spent $36MM on acquisitions and $20MM on CapEx in FY17.

$LZB {{ '2017-06-21T12:46:12+0000' | timeago}} • Webcast

In FY17, $LZB generated $1.5Bil in sales, while increasing its consolidated GM, operating income, operating margin and diluted EPS. Additionally, the company generated $146MM in cash from operating activities, allowing it to return a combined $57MM to its shareholders through share purchases and increased dividends.

$LZB {{ '2017-06-20T21:08:33+0000' | timeago}} • Announcement

$LZB reported a 2.4% growth in same-store written sales in its Furniture Galleries network in 4Q17. In the whole of 2017, the company opened seven new stores, closed two, acquired 14 from independent dealers and remodeled three. La-Z-Boy also approved the purchase of up to an additional 6MM shares under its share purchase authorization.

$LZB {{ '2017-06-20T21:06:07+0000' | timeago}} • Announcement

$LZB’s net profit increased on lower costs in 4Q17. Income rose to $28MM or $0.57 per share from $22.72MM or $0.45 per share in 4Q16. Sales dropped 1% annually to $412.7MM. Sales in the upholstery segment dropped 2.9% YoY, and that in casegoods segment declined 1%. Retail segment sales rose 8.1% annually.

$LZB {{ '2017-06-12T20:40:53+0000' | timeago}} • Announcement

$LZB appointed David Behen as VP and CIO  He will report to Kurt Darrow, Chairman, President and CEO. In this role, Behen will be responsible for leading, developing, expanding and overseeing all aspects of IT, including IT strategy, cybersecurity, enterprise architecture, ERP deployment, network optimization, and procuring new technologies.

$LZB {{ '2017-05-19T10:36:19+0000' | timeago}} • Announcement

$LZB named Douglas Collier as Chief Commercial Officer and President, International. In this new position, he will have global responsibility for all facets of sales, merchandising and marketing for the $LZB branded business. He will continue to report to Kurt Darrow, CEO.

$LZB {{ '2017-05-18T20:39:31+0000' | timeago}} • Announcement

$LZB appointed Douglas Collier to the newly created role of Chief Commercial Officer and President, International. Darrell Edwards, Senior Vice President and Chief Supply Chain Officer, will expand his role. Daniel King, President, La-Z-Boy Retail Division, will now report directly to CEO Kurt Darrow.

$LZB {{ '2017-05-09T20:56:10+0000' | timeago}} • Announcement

$LZB BoD declared a quarterly cash dividend on the company’s common stock of $0.11 per share.  The dividend is payable June 15, 2017, to shareholders of record as of June 1, 2017.

$LZB {{ '2017-04-17T12:15:11+0000' | timeago}} • Announcement

SVP and President of $LZB Branded Business Mark Bacon has resigned from the company, effective April 30, 2017. For the immediate future, the senior leadership members of Branded Business will report to CEO Kurt Darrow.

$LZB {{ '2017-02-03T14:40:19+0000' | timeago}} • Announcement

$LZB plans to invest about $26MM over a 3-year period in its largest U.S. manufacturing facility, located in Dayton, Tennessee.  The 1.2MM square-foot Dayton campus, which began operations in 1973 and employs about 1,400 people, is the only La-Z-Boy branded plant that manufactures furniture in all three upholstery categories.

$LZB {{ '2016-12-01T14:28:37+0000' | timeago}} • Webcast

$LZB said the management of materials and the supply chain was the main driver of margin improvements in the upholstery segment. The lowering of input costs and improvements in productivity are contributing as well to margin improvement. If volume and raw materials stay positive, the company will continue to see benefits in margins.

$LZB {{ '2016-12-01T14:13:30+0000' | timeago}} • Webcast

In 2Q17, $LZB’s consolidated GM improved 1.4% compared with 2Q16 with the majority due to changes in consolidated sales mix due to the increased weighting of the retail segment which carries a higher GM than the wholesale businesses. GM in the upholstery segment improved due to supply chain efficiencies and changes in product mix.

$LZB {{ '2016-12-01T14:04:49+0000' | timeago}} • Webcast

For 2Q17, $LZB’s written same store sales for the La-Z-Boy Furniture Gallery network declined 4.4% versus 2Q16. As the quarter progressed, the company saw progress with October down 1.9%. During 2Q17, the network opened three new stores, remodeled one and closed two. For 3Q17, four new stores, one relocation and three remodels are planned.

$LZB {{ '2016-12-01T13:51:38+0000' | timeago}} • Webcast

During 2Q17, $LZB continued to invest in its business and acquired four La-Z-Boy Furniture Galleries stores in the Canadian market as it continues to grow its company-owned retail base. Subsequent to quarter-end, the company acquired an additional nine stores and signed an agreement to acquire the license from the La-Z-Boy brand in UK and Ireland.

$LZB {{ '2016-11-30T21:45:31+0000' | timeago}} • Announcement

$LZB's upholstery segment sales fell 3.3% to $295.8MM and casegoods segment sales fell 8.3% to $25.9MM. Retail segment sales grew 11.3% to $107.4MM. Total written sales, including new and closed stores, decreased 1.2%.

$LZB {{ '2016-11-30T21:42:33+0000' | timeago}} • Announcement

$LZB's BoD increased its regular quarterly dividend to shareholders by 10% to $0.11 per share. The dividend will be paid on Dec. 15, 2016, to shareholders of record as of Dec. 9, 2016.

$LZB {{ '2016-11-30T21:42:22+0000' | timeago}} • Announcement

$LZB posted 2Q17 earnings of $20.8MM, or $0.42 per diluted share, down about 1% from a year ago. Sales declined 1.6% to $376.6MM, hurt by weaker demand in consumer environment during the summer and early fall.

$LZB {{ '2016-08-25T12:42:51+0000' | timeago}} • Announcement

The BoD of $LZB declared a quarterly cash dividend of $0.10 per share on its common stock. The dividend is payable on September 9, 2016, to shareholders of record as of September 2, 2016.

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