La-Z-Boy reports Q3 EPS 91c, consensus 66c

Reports Q3 revenue $572.7M, consensus $529.57M. The company said, "We again delivered excellent results driven by productivity gains throughout our supply chain and superb performance in our company-owned Retail segment. During the quarter, we worked down the majority of our excess backlog, getting close to normal lead times, and continued to invest in marketing to increase awareness and consideration of the La-Z-Boy brand. I am particularly pleased with our positive written sales trends in our Retail stores, driven by strong execution of our value proposition – comfortable custom furniture with quick delivery. Across La-Z-Boy, we are capitalizing on and investing in our brand heritage of comfort. We’re honing our messaging, investing in targeted marketing, sharpening price points, and ensuring strong execution. As we move through this uncertain economic environment, we will continue to employ agility, a consumer-first focus, and our strong financial position to make smart investments to drive capability and brand reach."