La-Z-Boy reports Q1 EPS 62c, consensus 55c

Reports Q1 revenue $481.65M, consensus $474.58M. Melinda Whittington, president and CEO of La-Z-Boy Incorporated, said, “As demonstrated by our positive written same-store sales, the La-Z-Boy brand continues to outperform in a challenging home furnishings environment. These results are reflective of the strength of the La-Z-Boy brand and focus on execution in our stores. Further, we continued to execute on our Century Vision strategy, increasing our company owned Retail store count by four to 175 and opening incremental distribution via an enhanced channel strategy during the quarter. We remain confident we will consistently grow faster than the industry and deliver double digit operating margins over the long term.”