La Z Boy Inc.

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La-Z-Boy Inc. (LZB) is one of the growth stocks in the furniture industry that has been playing well. This furniture company has produced excellent quarterly results including an 11.24% increase in net sales. For the full year, La-Z-Boy’s total sales increased 7.75%. The company began operation in 1941. It is the second-largest manufacturer/distributor of residential furniture in the U.S. and third-largest retailer of single-source home furnishings. La-Z-Boy manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The company operates in three reportable segments. Wholesale segments Upholstery. Casegoods. Retail segment La-Z-Boy sells its products chiefly in the U.S. and Canada but also…show more content…
Strong fiscal 2016 results For fiscal 2016, La-Z-Boy’s consolidated sales increased 7.04% to $1.52 billion, compared to $1.42 billion for the comparable prior-year period. For the reported period, EPS from continuing operations attributable to La-Z-Boy increased 21.09% to $1.55 compared to $1.28 for the same period last year. The company’s consolidated operating income increased 18.64% to $122.39 million compared to $103.16 million for fiscal 2015. Selling, general and administrative expense increased 14.37% to $459.14 million compared to $401.46 million for the same period last year. La-Z-Boy generated $112.36 million cash from operating activities for the reported period. Further, the company has paid dividends of $18.14 million compared to $14.51 million for the year ago period. Share repurchase During fiscal year 2016, La-Z-Boy spent $44.1 million purchasing 1.7 million shares of stock in the open market under its existing authorized share purchase program, including 600,000 in the fourth quarter, leaving 4.0 million shares remaining in the program. Segments’ performance Metrics Upholstery segment Casegoods segment Retail segment Q1 2016 % change compared to Q1 2015 Fiscal 2016 % change compared to fiscal 2015 Q1 2016 % change compared to Q1 2015 Fiscal 2016 % change compared to fiscal 2015 Q1 2016 % change compared to Q1 2015 Fiscal 2016 % change compared to fiscal 2015 Sales $334 .92 9.69% $1.2 1 billi

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