Last $26.69 USD
Change Today -0.89 / -3.23%
Volume 378.3K
LZB On Other Exchanges
As of 8:04 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

la-z-boy inc (LZB) Snapshot

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03/21/14 - $28.48
52 Week Low
10/10/14 - $19.03
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Current Stock Chart for LA-Z-BOY INC (LZB)

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la-z-boy inc (LZB) Details

La-Z-Boy Incorporated manufactures, markets, imports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States and Canada. The company also produces reclining chairs; and manufactures/distributes residential furniture in the United States. It operates in three segments: Upholstery, Casegoods, and Retail. The Upholstery segment manufactures or imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas. This segment sells its products directly to La-Z-Boy Furniture Galleries stores, operators of Comfort Studios locations, dealers, and other independent retailers. The Casegoods segment manufactures, imports, markets, and distributes casegoods furniture, including bedroom sets, dining room sets, entertainment centers and occasional pieces, and upholstered furniture. This segment sells its products to dealers and other independent retailers under the American Drew, Hammary, and Kincaid brands. The Retail segment sells upholstered furniture, casegoods, and other accessories to the end consumer through its retail network. As of August 19, 2014, this segment marketed La-Z-Boy products and brands through 317 stand-alone La-Z-Boy Furniture Galleries stores and 586 independent Comfort Studio locations, as well as in-store gallery programs for its Kincaid and England operating units. The company was formerly known as La-Z-Boy Chair Company and changed its name to La-Z-Boy Incorporated in 1996. La-Z-Boy Incorporated was founded in 1927 and is based in Monroe, Michigan.

8,300 Employees
Last Reported Date: 06/17/14
Founded in 1927

la-z-boy inc (LZB) Top Compensated Officers

Chairman, Chief Executive officer and Preside...
Total Annual Compensation: $874.3K
Chief Financial officer and Senior Vice Presi...
Total Annual Compensation: $422.5K
Senior Vice President and President of Brande...
Total Annual Compensation: $477.0K
Senior Vice President and President of Casego...
Total Annual Compensation: $380.0K
Senior Vice President and President of Non-Br...
Total Annual Compensation: $348.1K
Compensation as of Fiscal Year 2014.

la-z-boy inc (LZB) Key Developments

La-Z-Boy Opens New Store in Edina, Minnesota

La-Z-Boy Incorporated has announced the opening of a new store in Edina, Minnesota. The new store located at 7595 South France Avenue occupies over 17,000-square-feet and boasts a remarkable selection of great looking furniture for the entire home, all presented in inspiring room displays organized by lifestyle. The store represents a new design format for La-Z-Boy, and truly embodies the "Live life comfortably SM" tagline. The Edina area store features a wide-range of furniture from more than 60 sofa styles, to sectionals, leather, loveseats, ottomans as well as the company's legendary recliners. The store also offers a large selection of home accents and accessories to help customers create a complete look. Shoppers will immediately notice the dramatic decor and home furnishings in the numerous vignettes located throughout the store that deliver inspiration for living and family rooms. Each vignette features great-looking fully accessorized room displays, providing customers with lots of decorating ideas. The new design format store also offers two convenient approaches for shoppers who seek design direction. Customers looking to visualize their custom furniture dreams can use interactive design tools to render any La-Z-Boy product in their choice of hundreds of fabric and leather covers. For those who need more inspiration and guidance, La-Z-Boy stores also offer free In-Home Design Assistance from professionals experienced at helping turn design dreams into reality. La-Z-Boy designers will also visit customer's homes to help them with their design project and advise on styles that will fit comfortably into their home and budget.

La-Z-Boy Incorporated Names Barbara J. Runyon as Chief Human Resources Officer

La-Z-Boy Incorporated announced the appointment of Barbara J. Runyon as Chief Human Resources Officer. She will join the company on February 2, 2015, and will report to Kurt L. Darrow, La-Z-Boy's Chairman, President and Chief Executive Officer. Runyon will provide leadership and oversight for talent management, employee engagement, workforce development, and compensation and benefits. Runyon joins La-Z-Boy from PepsiCo/The Pepsi Bottling Group, where she spent 14 years in various Human Resource positions of increasing responsibility. Most recently, she served as Senior Director of Human Resources for the company's Midwest region.

La-Z-Boy Incorporated Signs an Amendment to the $150 Million Credit Agreement

On December 30, 2014, La-Z-Boy Incorporated (the Company) and most of its domestic subsidiaries (collectively, the Loan Parties), signed an amendment to the $150 million Credit Agreement (the Amendment) with Wells Fargo Capital Finance, LLC, as administrative agent and lender, and the financial institutions named therein (the Lenders). The Amendment amends the $150 million Amended and Restated Credit Agreement dated as of October 19, 2011, among the Company, most of its domestic subsidiaries, the banks listed therein, and Wells Fargo Capital Finance Corporation, LLC, as administrative agent (the Credit Agreement). The Amendment extends the maturity date of the revolving credit facility from October 19, 2016, to December 30, 2019. At the time the Amendment became effective, there were no amounts outstanding under the Credit Agreement. The Credit Agreement is a revolving credit facility with a commitment of $150 million. The Credit Agreement, as amended, is secured primarily by all of the Loan Parties' accounts receivable, inventory, cash deposit and securities accounts. Availability under the Credit Agreement will continue to vary based on a borrowing base calculation consisting of eligible accounts receivable and inventory. Interest on LIBOR Rate loans under the Credit Agreement prior to the Amendment varied from LIBOR plus 1.50% to 2.00% based on average Excess Availability. As a result of the Amendment, the margin on Libor Rate loans, which continues to be based on average Excess Availability, will vary between LIBOR plus 1.25% to 1.75%. The margin on Base Rate loans is unchanged. Base Rate is the high of (a) the Prime Rate; (b) the Federal Funds Rate plus 1/2 of 1%; and (c) the one-month LIBOR Rate plus 1%. The Credit Agreement includes certain covenants and restrictions, including a fixed charge coverage ratio, which would become effective only if excess availability fell below certain thresholds. The Amendment lowers certain of these thresholds so that the corresponding covenants and restrictions would become effective in fewer instances.


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Price/Sales 1.0x
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Price/Cash Flow 22.5x
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