La-Z-Boy Incorporated Provides Cash Flows Guidance for the Full Year 2015; Plans to Open 15 Net New Stores
Nov 18 15
La-Z-Boy Incorporated provided cash flows guidance for the full year 2015. The company expects CapEx for the full year to be in the range of $25 million to $30 million range, down somewhat from the range the company gave at the onset of the year. For the full year, the company expects effective tax rate 36% is a good range to use for the modeling purposes.
For fiscal 2016, across the network, the company is planning for more than 30 projects, with 15 net new stores plus 14 remodels to the new concept design format and 1 relocation, translating to about 30 additional stores in the new concept design by the end of the fiscal year compared with the previous year.
La-Z-Boy Seeks Acquisitions
Nov 18 15
Mike Riccio, Chief Financial Officer of La-Z-Boy Incorporated (NYSE:LZB) said, "Moving forward, we plan to continue to make acquisitions of independent La-Z-Boy Furniture Galleries stores. But with the third quarter being the busiest selling season at retail, we will most likely delay any further acquisitions until the fourth quarter"
La-Z-Boy Incorporated Declares Increased Quarterly Dividend, Payable on December 10, 2015
Nov 17 15
The board of directors of La-Z-Boy Incorporated increased the company's regular quarterly dividend to shareholders by 25% to $0.10 per share. The dividend will be paid on December 10, 2015, to shareholders of record as of November 30, 2015.
La-Z-Boy Incorporated Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended October 24, 2015
Nov 17 15
La-Z-Boy Incorporated reported unaudited consolidated earnings results for the second quarter and six months ended October 24, 2015. For the quarter, the company reported sales of $382,891,000 compared to $365,601,000 a year ago. Operating income was $33,394,000 compared to $30,192,000 a year ago. Income from continuing operations before income taxes was $33,937,000 compared to $30,432,000 a year ago. Net income attributable to the company was $20,952,000 or $0.41 per basic and diluted share compared to $19,529,000 or $0.37 per basic and diluted share a year ago. During the quarter, the company generated $20.2 million in cash from operating activities. The company also had $7.4 million in capital expenditures.
For the six months period, the company reported sales of $724,314,000 compared to $692,581,000 a year ago. Operating income was $53,360,000 compared to $46,683,000 a year ago. Income from continuing operations before income taxes was $55,964,000 compared to $46,735,000 a year ago. Net income attributable to the company was $34,628,000 or $0.68 per basic and diluted share compared to $32,610,000 or $0.62 per basic and diluted share a year ago. Net cash provided by operating activities was $21,723,000 compared to $31,768,000 a year ago. Capital expenditures were $13,949,000 compared to $40,580,000 a year ago.
La-Z-Boy Incorporated to Report Q2, 2016 Results on Nov 17, 2015
Oct 1 15
La-Z-Boy Incorporated announced that they will report Q2, 2016 results at 4:00 PM, US Eastern Standard Time on Nov 17, 2015