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La-Z-Boy Q4 Net $0.33 Per Share, Slightly Beats Street View

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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.

Posted-In: Earnings News


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