Retail segment leads the way in La-Z-Boy Q4|JINHANFAIR VIP Buyer

2026.06.23

MONROE, Mich. — Retail expansion was pivotal to top-line results at La-Z-Boy Inc. during the fourth quarter.

The company generated $570 million in total sales for the period ended April 25, flat against last year. The retail segment (company-owned La-Z-Boy stores) provided a bulwark, particularly the expanded store base.

Written sales for retail rose 11%, driven by acquired and new stores. Written same-store sales slipped 2% as lower traffic was partially offset by higher conversions, average ticket and design sales. Delivered sales increased 9% to $270 million, primarily due to growth from acquired and new stores.

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“This growth has contributed to our solid results and market share expansion against an industry that remains soft,” said Melinda D. Whittington, board chair, president and CEO. “Our company-owned stores now total 230 across North America, an all-time high of 61% of our total network, and are a key pillar of our Century Vision strategy to grow La-Z-Boy brand reach.”

La-Z-Boy’s wholesale business experienced modest declines across its businesses, pushing year-over-year sales down 2% to $393 million. Joybird, the company’s direct-to-consumer e-commerce business, generated a 2% increase in written sales tied to new retail stores. However, overall sales dropped 10% to $32 on lower delivered volume.

On the bottom line, the company reported an operating margin of 7.2% and adjusted operating margin of 9.9%, up 50 basis points versus the prior year quarter.

Net income more than doubled to $33 million compared to $15 million in last year’s Q4, with diluted earnings per share coming in a $0.81 vs. $0.36 in last year’s Q4.

For the full fiscal year, La-Z-Boy’s consolidated sales ticked up 1% to $2.1 billion. The retail segment fueled the top line, with written sales up 8% and delivered sales up 6%. During the year, the company added 15 new stores and acquired 15 independent La-Z-Boy locations, the largest annual expansion in the operation’s history.

Wholesales segment sales were flat, although adjusted operated margin showed improvement.

Operating income for the year declined 5% to $129 million. Net income increased 5% to $102 million, or $2.47 per diluted share.

La-Z-Boy ended the year with $303 million in cash and no external debt.

“During the quarter, we executed well and continued to deliver on near-term expectations, while also investing for the future,” said Taylor Luebke, senior vice president and CFO.

While the company continues to take “a measured view” of the broader selling environment, he added, it foresees growth in the first quarter.

The outlook for the first quarter includes sales in the range of $490 million to $510 million coming from organic growth of up to 4%, excluding acquisitions or divestitures. The company expects an adjusted operating margin in the range of 4% to 5.5%.