La-Z-Boy Incorporated (NYSE:LZB) Q4 2019 Earnings Conference Call Transcript

Jun 19, 2019 • 08:30 am ET

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La-Z-Boy Incorporated (NYSE:LZB) Q4 2019 Earnings Conference Call Transcript

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Executive
Melinda Whittington

future earn-outs on Joybird. As a reminder, this earn-out could range from $0 million to $65 million as we've discussed extensively in previous quarters.

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

Executive
Kurt L. Darrow

Thank you, Melinda. In the shorter term, we are facing several hurdles with a fluid tariff environment, geopolitical uncertainty and the negative growth posted by the furniture industry for the first calendar quarter. But with that said, with our strong brand, multi-channel distribution network and predominately domestic manufacturing footprint, we believe we are competitively well positioned in the marketplace. Additionally, our balance sheet is strong, which will allow us to weather a possible economic downturn.

I'm so proud of the work that La-Z-Boy team has accomplished this year. We are playing offense and implementing creative solutions to optimize our portfolio of powerhouse brands, maximize the reach and efficiencies of our supply chain and capture new and different consumers.

We are excited about the future narrative of La-Z-Boy and believe the best is yet to come. We appreciate your interest in La-Z-Boy Incorporated.

And now, I'll turn over the call to Kathy to provide the instructions for getting into the queue.

Executive
Kathy Liebmann

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