UPDATE: La-Z-Boy Posts Downbeat FQ2 Profit
La-Z-Boy (NYSE: LZB) reported a 16% drop in its fiscal second-quarter earnings.
La-Z-Boy's quarterly earnings fell to $6.6 million, or $0.12 per share, from $7.9 million, or $0.15 per share, in the year-ago period.
Its revenue climbed 8% to $332.3 million. However, analysts were expecting earnings of $0.20 per share on revenue of $325 million.
La-Z-Boy's gross margin came in flat at 31.1%.
La-Z-Boy shares dropped 1.34% to close at $16.17 yesterday.
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