La-Z-Boy Incorporated (LZB) Releases Earnings Results, Misses Expectations By $-0.01 EPS

La-Z-Boy Incorporated (LZB) reported quarterly earnings results on Tuesday, Aug-23-2016. The company reported $0.28 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.29. The company posted revenue of $340.80 million in the period, compared to analysts expectations of $358.79 million. The company’s revenue was down -.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on La-Z-Boy Incorporated. La-Z-Boy Incorporated was Initiated by Longbow to “Neutral” on Aug 5, 2016.

La-Z-Boy Incorporated closed down -0.61 points or -2.01% at $29.67 with 7,70,335 shares getting traded on Friday. Post opening the session at $30.22, the shares hit an intraday low of $29.64 and an intraday high of $30.22 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jul 5, 2016, Kurt L Darrow (Chairman, President & CEO) sold 110,729 shares at $27.78 per share price. According to the SEC, on Jul 5, 2016, Mark Bacon (Senior Vice President) sold 24,504 shares at $27.34 per share price. On Jun 28, 2016, John Douglas Collier (Senior Vice President) sold 15,000 shares at $26.86 per share price, according to the Form-4 filing with the securities and exchange commission.

La-Z-Boy Incorporated manufactures markets imports distributes and retails upholstery furniture products. In addition the Company imports distributes and retails accessories and case goods (wood) furniture products. The Company operates through segments including the Upholstery segment the Casegoods segment and the Retail. Its Upholstery segment consists of two operating units: La-Z-Boy and its England subsidiary. The Upholstery segment manufactures imports and exports upholstered furniture. The Company’s Casegoods segment is an importer marketer and distributor of casegoods (wood) furniture such as bedroom sets dining room sets entertainment centers and occasional pieces and also manufactures some coordinated upholstered furniture. The Casegoods segment consists of three brands: American Drew Hammary and Kincaid. Its Retail segment consists of 110 company owned La-Z-Boy Furniture Galleries stores. The Retail segment primarily sells upholstered furniture.

La-Z-Boy Incorporated

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