La-Z-Boy Inc was incorporated in 1941 as La-Z-Boy Chair Company in the state of Michigan, and in 1996 the name was changed to La-Z-Boy Incorporated. The company manufactures, markets, imports, distributes and retails upholstery products, accessories and casegoods (wood) furniture products. The Company sells its products in the United States and Canada, to furniture retailers and directly to consumers through company-owned stores. The centerpiece of its retail distribution strategy is its network of 313 La-Z-Boy Furniture Galleries stores and 565 Comfort Studios, each dedicated to marketing its La-Z-Boy branded products. The remainder of the Company Furniture Galleries stores, as well as all 565 Comfort Studios, are owned and operated. La-Z-Boy Furniture Galleries stores help consumers furnish their homes by combining the style, comfort and quality of La-Z-Boy furniture with its in-home design service. Its reportable segments are the Upholstery segment, the Casegoods segment and the Retail segment. The Upholstery segment manufactures or imports upholstered furniture such as recliners and motion furniture, sofas, loveseats, chairs, ottomans and sleeper sofas. The Upholstery segment sells directly to La-Z-Boy Furniture Galleries stores, operators of Comfort Studios, dealers and other retailers. The Upholstery segment manufactures or imports upholstered furniture such as recliners and motion furniture, sofas, loveseats, chairs, ottomans and sleeper sofas. The Upholstery segment sells directly to La-Z-Boy Furniture Galleries stores, operators of Comfort Studios, dealers and other independent retailers. Its Retail segment consists of 94 company-owned La-Z-Boy Furniture Galleries stores located in nine markets ranging from the Midwest to the east coast of the United States and also including southeastern Florida and southern California. The Retail segment sells upholstered furniture, as well as some casegoods and other accessories, to end consumers through the retail network. Its customers are furniture retailers located throughout the United States and Canada. Additionally, the company sells to a number of furniture retailers outside of North America. It also sells to consumers through its company-owned La-Z-Boy Furniture Galleries stores. The company own 85 stand-alone La-Z-Boy Furniture Galleries stores. In the Upholstery segment, its competitors are Ashley, Bassett Furniture, Bernhardt, Ethan Allen, Flexsteel, Furniture Brands International, Klaussner, Natuzzi, and Palliser. In the Casegoods segment, its competitors are Ashley, Bernhardt, Ethan Allen, Furniture Brands International, Hooker Furniture, Stanley Furniture, and Universal.
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