LA-Z-BOY (LZB) Stocks
📊 La-z-Boy Incorporated, an American furniture manufacturer, was founded in 1927 and has its headquarters in Monroe, Michigan.
📊 The company manufactures home furniture such as upholstered recliners, sofas, sleeper sofas, stationary chairs and lift chairs. Its products are sold through a network of retail residential outlets in the U.S. and Canada.
📊 The company also manufactures and distributes its products under licence in other countries such as the United Kingdom, Japan, Mexico, New Zealand and South Africa, to name but a few.
📊 The company has a huge network of about 340 La-Z-Boy Furniture Galleries Stores of which it owns approximately 120.
📊 It also operates from more than 560 Comfort Studio locations. Other La-Z-Boy brands include Kincaid, American Drew, Hammary and England. Its primary markets are the U.S. and Canada.
📊 Today, La-z-Boy Incorporated employs about 9 000 people across its operations.
HISTORY OF LA-Z-BOY
- La-z-Boy Incorporated conducts its business through three primary segments: The Upholstery Group, the Casegoods Group and the Retail Group.
- Upholstery manufactures and sells upholstered furniture to furniture retailers and proprietary stores. Products in this segment include recliners and motion furniture, sofas, lift chairs, ottomans and sleeper sofas.
- The Casegoods Group sells manufactured or imported wood furniture to furniture retailers. Products include chairs, tables, entertainment centres, headboards and dressers, amongst others.
- The Retail Group focuses on the marketing of upholstered furniture to end consumers through the company’s retail network. The company also imports, distributes and markets a range of related accessories.
VISION & VALUES OF LA-Z-BOY
- La-z-Boy is passionate about caring for the environment and integrating sustainable business practices to reduce the impact of its operations, both locally and globally.
- By staying true to the core principles and values of its founders, the company is able to bring quality and comfort to people worldwide, enriching their lives by turning houses into homes.
- It operates through values of honesty and integrity, and upholds the highest ethical standards in its business operations.
- By acting responsibly, the company creates growth and adds value for shareholders who purchase company shares.
MARKET PERFORMANCE OF LA-Z-BOY
- La-z-Boy, Incorporated trades on the New York Stock Exchange (NYSE) under the stock symbol LZB. The company is an S&P component.
- For fiscal 2019, the company recorded consolidated sales of US$ 1.75 billion, a 10.2% increase over fiscal 2018. Consolidated GAAP operating income was US$ 129.7 million and non-GAAP operating income US$ 136.6 million.
- This solid performance affords shareholders the confidence to buy or sell shares in the expectation of solid dividends and returns.