La-Z-Boy's LZB fiscal fourth-quarter adjusted earnings beat analysts' expectations by a penny, coming in at $0.33 per share, and up from $0.30 reported a year ago.
Net earnings from continuing operations was $14.6 million, or $0.27 per share, including a $0.06 per share restructuring charge related to the company's casegoods segment.
Revenue grew 2.1 percent year-over-year to $353 million. Wall Street had forecasted revenue of $368.12 million.
Same-store sales for the La-Z-Boy Furniture Galleries 315 stores were up six percent in the recent period. But system-wide, including company-owned and independent stores, same-store sales fell 0.9 percent from a year earlier.
The company announced a restructuring in April and on Tuesday said it would close a North Carolina factory this autumn.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.