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Last $27.43 USD
Change Today +0.09 / 0.33%
Volume 329.2K
LZB On Other Exchanges
Symbol
Exchange
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Frankfurt
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

la-z-boy inc (LZB) Key Developments

La-Z-Boy Incorporated Appoints Jeffrey Fink as Vice President, Real Estate, Effective from March 9, 2015

La-Z-Boy Incorporated announced the appointment of Jeffrey Fink as Vice President, Real Estate. He will join the company on March 9, 2015, and will report to Mark Bacon, Senior Vice President and President La-Z-Boy Branded Business. In this capacity, Fink will have overall responsibility for real estate development for the La-Z-Boy Furniture Galleries network, as well as for corporate-operated locations. Fink joins La-Z-Boy from Jo-Ann Stores, LLC, where he was Senior Vice President, Real Estate and Lease Administration. In that capacity, he worked on a team responsible for real estate strategy, tactics and execution for growth and asset management of 850 stores.

La-Z-Boy Incorporated Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended January 24, 2015; Plans to Open New Stores in the Fiscal Year 2015; Provides Capital Expenditure Guidance for the Fiscal Years 2015 and 2016

La-Z-Boy Incorporated reported unaudited consolidated financial results for the third quarter and nine months ended January 24, 2015. For the quarter, the company reported sales of $357,876,000 against $346,525,000 a year ago. Operating income was $26,928,000 compared to $25,884,000 a year ago. Income from continuing operations before income taxes was $27,834,000 compared to $26,774,000 a year ago. Income from continuing operations was $18,357,000 compared to $17,858,000 a year ago. Net income attributable to the company was $17,948,000 or $0.34 per diluted share compared to $16,483,000 or $0.31 per diluted share a year ago. During the quarter, the company generated $23.3 million in cash from operating activities. In the period, the company had $15.9 million in capital expenditures. The company reported that out of capital expenditures, about 1/2 of relates to its new office building. Income from continuing operations attributable to the company was $17,833,000 or $0.34 per diluted share compared to $17,470,000 or $0.33 per diluted share a year ago. Adjusted net income from continuing operations attributable to the company was $17,324,000 or $0.33 per diluted share, ex one-time items, versus $17,430,000 or $0.33 per share in the same quarter the previous year. For the nine months, the company reported sales of $1,050,457,000 compared to $1,004,298,000 a year ago. Operating income was $73,611,000 compared to $66,767,000 a year ago. Income from continuing operations before income taxes was $74,569,000 compared to $68,002,000 a year ago. Income from continuing operations was $48,594,000 compared to $45,216,000 a year ago. Net income attributable to the company was $50,558,000 or $0.96 per diluted share compared to $42,817,000 or $0.80 per diluted share a year ago. Adjusted net income from continuing operations attributable to the company was $46,932,000 or $0.89 per share, ex one-time items, versus $43,252,000 or $0.80 per share in the previous year. Net cash provided by operating activities was $55,064,000 compared to $62,789,000 a year ago. Capital expenditure was $56,512,000 compared to $23,078,000 a year ago. Income from continuing operations attributable to the company was $47,661,000 or $0.90 per diluted share compared to $44,210,000 or $0.82 per diluted share a year ago. The company believed that it will end fiscal 2015 with approximately 31 projects completed, including new stores, relocations and remodels, and plan to stay on a pace of between 30 to 35 projects annually for the next three years to reach 400-store pinnacle. Net new store count will increase by 11 this year. In addition, the company will have reduced old store count by 15 and will double the number of new concept design stores which are performing at a higher level than stores in the other formats. The company expects to end fiscal 2015 with 326 stores. The company anticipates CapEx for fiscal year 2015 to be in the range of $70 million to $75 million, reflecting costs associated with new World Headquarters as well as for stores, transportation and equipment and routine maintenance. For the fiscal year 2016, the company expects CapEx to return to a more normalized level of about $25 million to $30 million, roughly mirroring depreciation and amortization.

La-Z-Boy Incorporated Declares Regular Quarterly Cash Dividend, Payable on March 10, 2015

The Board of Directors of La-Z-Boy Incorporated declared a regular quarterly cash dividend of $0.08 per share on the company's stock. The dividend will be paid on March 10, 2015 to shareholders of record as of February 27, 2015.

La-Z-Boy Incorporated to Report Q3, 2015 Results on Feb 17, 2015

La-Z-Boy Incorporated announced that they will report Q3, 2015 results After-Market on Feb 17, 2015

La-Z-Boy Incorporated, Q3 2015 Earnings Call, Feb 18, 2015

La-Z-Boy Incorporated, Q3 2015 Earnings Call, Feb 18, 2015

 

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Price/Sales 1.0x
Price/Book 2.7x
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