La-Z-Boy Inc LZB Stock Analysis

About La-Z-Boy Inc

: La-Z-Boy Incorporated is a leading vertically integrated retailer and manufacturer of high-quality, custom furniture that transforms the home. Founded on American heritage, the iconic La-Z-Boy brand has been synonymous with comfort, quality, and craftsmanship for nearly 100 years. As an end-to-end enterprise, the company manages every aspect of its business—from retail, manufacturing, and design to distribution and after-service care. La-Z-Boy Incorporated brings timeless and modern furniture to life through a retail network of approximately 380 La-Z-Boy stores, including 234 company-owned locations, and its digital platform at La-Z-Boy.com. Within the Wholesale segment, the company manufactures comfortable, high quality, custom furniture, with over 90% of its products produced in North America. Its Joybird ® brand is an omnichannel retailer and manufacturer of modern, custom upholstered furniture, operating 16 U.S. stores. With a global team of about 10,000 employees, La-Z-Boy Incorporated was named to TIME's 2026 list of America's Most Iconic Companies and Newsweek's 2025 list of America's Best Retailers, ranking No. 1 in the furniture category. The company continues to shape the way people live by delivering the transformational power of comfort. Notes : (1) Adjusted amounts for the first quarter of fiscal 2027 exclude: $17.6 million pre-tax, or $0.35 per diluted share, of charges related to the exit of our two smallest manufacturing facilities. $4.1 million pre-tax, or $0.08 per diluted share, of one-time charges in non-operating income related to the termination of our non-qualified legacy acquired retirement plan. $2.6 million pre-tax, or $0.05 per diluted share, of one-time charges related to the divestiture of the Casegoods wholesale business. $0.4 million pre-tax, or $0.01 per diluted share, of purchase accounting charges related to acquisitions completed in current and prior periods. $0.2 million pre-tax, or less than $0.01 per diluted share, of charges related to the distribution and home delivery transformation. Adjusted amounts for the first quarter of fiscal 2026 exclude: $1.3 million pre-tax, or $0.03 per diluted share, of charges related to the distribution and home delivery transformation. $0.2 million pre-tax, or less than $0.01 per diluted share, of purchase accounting charges related to acquisitions completed in prior periods Please refer to the accompanying "Reconciliation of GAAP to Adjusted Financial Measures" and "Reconciliation of GAAP to Adjusted Financial Measures: Segment Information" for detailed information on calculating the adjusted financial measures used in this press release and a reconciliation to the most directly comparable GAAP measure. (2) This reference to adjusted operating margin for a future period is an adjusted financial measure. We have not provided a reconciliation of adjusted operating margin for future periods in this press release because such reconciliation cannot be provided without unreasonable efforts. (3) Cash includes cash and cash equivalents.