📈 Price History

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About

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products in the United States and internationally.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding LZB

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	223.6K	$7.2M	0.01%	Mar 2026
Steve Cohen Point72 Asset Management	82.9K	$2.7M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

📊 MIXED La-Z-Boy Q3 2026: Revenue $542M (+4%), retail expansion drives growth, adjusted operating margin 6.1%.

Revenue & Profitability

Consolidated revenue was $542 million, up 4% year-over-year. GAAP operating income was $30 million, and adjusted operating income was $33 million. GAAP diluted EPS was $0.52, adjusted diluted EPS was $0.61. Operating cash flow was $89 million, up 57% year-over-year. The company ended the quarter with $306 million cash and no externally funded debt.

Outlook

Management describes the consumer environment as 'choppy' and 'challenging,' with a bifurcated consumer base. They do not expect a major macro change in Q4. Recent adverse weather in late January/early February caused a timing effect on demand but not a permanent loss. The company remains cautious and continues to manage prudently.

Growth Drivers

Retail expansion is a key growth driver: 16 net new company-owned stores opened in the last 12 months, and the company expects to open ~10 new stores per year for the next several years. The integration of a 15-store acquisition in the Southeast (adding $80M annualized retail sales) is performing well. Wholesale growth is driven by strategic partners such as Slumberland and Rooms To Go, with core North American wholesale delivering its seventh consecutive quarter of sales growth.

Balance Sheet & CapEx

Capital expenditures in Q3 were $18 million, primarily for new stores, remodels, manufacturing, and the distribution/home delivery transformation project. Full fiscal 2026 CapEx guidance is $80-$90 million. The company completed the Western U.S. phase of the distribution transformation and broke ground on a new centralized hub in Dayton, Tennessee. The 15-store acquisition cost $86 million. The distribution project is expected to deliver 50-75 bps wholesale margin improvement and up to 50 bps to the enterprise.

Margins

Consolidated adjusted gross margin increased 10 bps year-over-year, driven by a mix shift toward retail. Adjusted SG&A increased 80 bps due to retail mix and fixed cost deleverage. The retail segment reported an adjusted operating margin of 10.7% (flat YoY), while wholesale was 6.0% (down from 6.5%). Q3 adjusted operating margin was 6.1%, at the high end of guidance. Q4 guidance for adjusted operating margin is 7.5%-9.0%. Strategic initiatives are expected to add 75-100 bps of annual margin improvement, and the distribution project adds up to 50 bps enterprise margin over time.

Key Risks

Risks flagged include a persistently challenging and choppy consumer environment, traffic declines in stores, adverse weather impacts (especially late January into early February), volatility in the Joybird segment, foreign exchange headwinds, and the ongoing transition of the U.K. business. Management also cited the broader macroeconomic backdrop and consumer discretionary spending sensitivity.

Generated by AI · Q3 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q4 2026 Q4 2026 2026-06-17

Fiscal 2026 closed with record new store openings, strong retail growth, and improved operating margins, despite industry softness and inflationary pressures. Strategic supply chain and portfolio optimizations, disciplined capital allocation, and brand innovation position the company for long-term growth.

Q3 2026 Q3 2026 2026-02-18

Third quarter sales rose 4% year-over-year to $542 million, driven by retail expansion and a major acquisition, while adjusted operating margin reached 6.1%. Strategic initiatives, including business divestitures and supply chain transformation, are expected to improve margins by up to 100 basis points.

Q2 2026 Q2 2026 2025-11-19

Modest sales growth and margin expansion were achieved despite a challenging market, with strong cash flow and a major retail acquisition. Strategic exits from non-core businesses and supply chain transformation are expected to boost margins, while capital allocation remains balanced between reinvestment and shareholder returns.

Q1 2026 Q1 2026 2025-08-20

Sales grew in retail and wholesale segments, but overall revenue dipped 1% year-over-year due to a 20% decline in Joybird. Margin expansion in wholesale was offset by retail margin compression from new store investments. The company remains focused on strategic growth and supply chain transformation.

Q4 2025 Q4 2025 2025-06-18

Q4 and FY25 saw 3% sales growth, strong cash flow, and margin performance at or above guidance, driven by retail expansion and supply chain agility. FY26 outlook anticipates continued outperformance despite macro headwinds, with investments in new stores and distribution redesign.

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