La-Z-Boy Q4 Net $0.33 Per Share, Slightly Beats Street View
La-Z-Boy's (NYSE: 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.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.