La-Z-Boy Reports Mixed Q1 Fiscal Results Amid Retail Growth
La-Z-Boy reported mixed fiscal first-quarter results for 2027. While retail sales showed strong growth, wholesale performance and volatility at its Joybird unit dragged down overall results. Consolidated sales declined by 3% year-over-year on a reported basis or 1% excluding the impact of a recent divestiture. Adjusted operating income fell to $19 million with an adjusted margin of 3.9%, compared to 4.8% in the prior year. Retail remained the primary growth driver, with delivered sales rising by 10% and written sales increasing by 16%. The company expanded its owned-store base to 234 locations during the quarter and plans to add approximately 10 stores annually toward a long-term goal of reaching 450 total locations. Management expects modest second-quarter performance, with revenue between $500 million and $520 million. La-Z-Boy also continued its shareholder return strategy by repurchasing $25 million in stock and paying out $10 million in dividends during the quarter.
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