La-Z-Boy Retail Growth Offsets Wholesale Weakness in Fiscal Year Close

The company’s retail segment emerged as a clear growth driver, with written sales climbing 11% compared to the same period last year. This performance was bolstered by the addition of four company-owned stores, bringing the total network to 230 locations—now representing 61% of the brand’s 378-store footprint. While same-store sales dipped 2%, the company noted a sequential improvement throughout the quarter, with momentum carrying into May.

La-Z-Boy’s broader strategy, dubbed "Century Vision," continues to prioritize a transition toward a vertically integrated model. To achieve this, the company finalized the exit of its American Drew and Kincaid wholesale casegoods businesses and completed a U.K. supply chain restructuring. These moves, coupled with a $300 million share repurchase authorization, signal management's focus on long-term capital efficiency. For the upcoming first quarter, leadership projects sales between $490 million and $510 million, anticipating continued pressure from seasonal industry trends but sustained outperformance relative to the broader furniture market.