La-Z-Boy Incorporated (NYSE:LZB) Q1 2018 Earnings Conference Call - Preliminary Transcript

Aug 23, 2017 • 08:30 am ET


La-Z-Boy Incorporated (NYSE:LZB) Q1 2018 Earnings Conference Call - Preliminary Transcript


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Michael Riccio

for continuing operations was 35.6% for the quarter, compared with 35.7% from last year's first quarter. varies from the 35% statutory rate, primarily due to the state taxes, plus the benefit of the U.S. manufacturing deduction and foreign earnings in jurisdictions were lower tax rate than the U.S.

I'll now turn the call back to Kurt for his concluding remarks.

Kurt Darrow

Thank you, Mike. As I mentioned earlier, we are working on a number of initiatives to expand our business through a dual strategy to reach both our core customer as well as the new and younger consumer through a multi-faceted e-commerce strategy that will pave the way for the next tier of growth and I look forward to updating you on the progress we are making.

At the same time, we are also looking forward to moving into what is a typically stronger selling fall period, which will be able to leverage the efficiencies of our supply chain in terms of procurement and manufacturing efficiencies.

I thank you for your interest in La-Z-Boy and being on our call today. And I will turn things over to Kathy for the Q&A. Kathy.

Kathy Liebmann

Thank you, Kurt. We'll begin the question-and-answer period now. Rob, please review the instructions for getting into the queue to ask questions.