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Last $19.97 USD
Change Today -0.99 / -4.72%
Volume 397.6K
LZB On Other Exchanges
New York
As of 8:04 PM 02/5/16 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

One La-Z-Boy Drive

Monroe, MI 48162

United States

Phone: 734-242-1444


La-Z-Boy Incorporated and its subsidiaries manufacture, market, import, distribute, and retail upholstery furniture products. The company also imports, distributes, and retails accessories and casegoods (wood) furniture products. The company operates as a producer of reclining chairs worldwide and a manufacturer/distributor of residential furniture in the United States. The La-Z-Boy Furniture Galleries stores retail network is a retailer of single-branded furniture in the United States. The company sells its products, primarily in the United States and Canada, as well as internationally, to furniture retailers and directly to consumers through stores that its subsidiaries own and operate. The centerpiece of its retail distribution strategy is its network of 325 La-Z-Boy Furniture Galleries stores and 573 Comfort Studios locations, each dedicated to marketing the company’s La-Z-Boy branded products. The company owns 101 of the La-Z-Boy Furniture Galleries stores. The remainder of the La-Z-Boy Furniture Galleries stores, as well as all 570 Comfort Studios locations, are independently owned and operated. La-Z-Boy Furniture Galleries stores help consumers furnish their homes by combining the style, comfort and quality of La-Z-Boy furniture with its available in-home design service. Comfort Studios locations are defined spaces within independent retailers that are dedicated to displaying and selling La-Z-Boy branded products. In addition to the La-Z-Boy Comfort Studios locations, the company’s Kincaid and England operating units have their own dedicated proprietary in-store programs with 500 outlets and 3.8 million square feet of proprietary floor space. In total, its proprietary floor space includes approximately 11.3 million square feet. Segments The company operates through three segments, including Upholstery, Casegoods, and Retail. Upholstery This segment consists of two operating units, La-Z-Boy, the company’s major operating unit, and its England subsidiary. This segment manufactures, imports and exports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas. This segment sells directly to La-Z-Boy Furniture Galleries stores, operators of Comfort Studios and England Custom Comfort Center locations, major dealers and other independent retailers. Casegoods This segment is an importer, marketer, manufacturer and distributor of casegoods (wood) furniture, such as bedroom sets, dining room sets, entertainment centers and occasional pieces, and also manufactures some coordinated upholstered furniture. The Casegoods segment consists of three brands, such as American Drew, Hammary, and Kincaid. The Casegoods segment sells primarily to major dealers, as well as La-Z-Boy Furniture Galleries stores, along with various cross-section of other independent retailers. Retail This segment consists of 110 company-owned La-Z-Boy Furniture Galleries stores. This segment primarily sells upholstered furniture, in addition to some casegoods and other accessories, to the end consumer through the company’s retail network. Customers The company’s wholesale customers are furniture retailers located primarily throughout the United States and Canada. Sales in its Upholstery and Casegoods segments are almost entirely to furniture retailers, but the company sells to consumers through its company-owned La-Z-Boy Furniture Galleries stores that make up its Retail segment. For its Upholstery and Casegoods segments, the company’s fiscal 2015 customer mix based on sales was approximately 58% proprietary, 8% major dealers (Art Van Furniture, Berkshire Hathaway, Slumberland Furniture, and Raymour & Flanigan Furniture) and 34% other independent retailers. The company sells product through proprietary space within other retail furniture stores, primarily La-Z-Boy Comfort Studio locations, England Custom Comfort Center locations, and Kincaid Shoppes. It selects independent dealers for ist proprietary La-Z-Boy Furniture Galleries stores network based on factors such as their management and financial qualifications and the potential for dis

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Valuation LZB Industry Range
Price/Earnings 14.3x
Price/Sales 0.7x
Price/Book 1.9x
Price/Cash Flow 13.8x
TEV/Sales 0.6x

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