Q3 2026 La-Z-Boy Inc Earnings Call Transcript
Key Points
- La-Z-Boy Inc (LZB) reported a 4% increase in total delivered sales, reaching $542 million for the third quarter.
- The Retail segment saw an 11% increase in both written and delivered sales, with the addition of four new company-owned stores.
- The company generated strong operating cash flow of $89 million, a 57% increase compared to the previous year.
- La-Z-Boy Inc (LZB) successfully integrated a 15-store acquisition in the Southeast region, adding $80 million in annualized retail sales.
- The company completed the Western US phase of its distribution and home delivery transformation project, enhancing supply chain agility.
- Written same-store sales in the Retail segment decreased by 4% for the quarter.
- Joybird's total written sales decreased by 13% compared to the previous year, reflecting volatility in this consumer segment.
- The Wholesale segment's adjusted operating margin decreased to 6% from 6.5% last year, impacted by investments and unfavorable foreign exchange rates.
- The company announced the planned closure of its UK manufacturing facility, indicating challenges in that market.
- Adverse weather conditions in late January and early February negatively impacted traffic and sales, with potential timing effects on fourth-quarter deliveries.
Good morning, everyone, and welcome to the La-Z-Boy fiscal 2026 third quarter conference call. (Operator Instructions) Please note, this conference is being recorded.
I will now turn the conference over to your host, Mark Becks, Director of Investor Relations and Corporate Development at La-Z-Boy. Mark, the floor is yours.
Thank you, Jenny. Good morning, everyone, and thanks for joining us to discuss our fiscal 2026 third quarter. Joining me on today's call are Melinda Whittington, La-Z-Boy Incorporated's Board Chair, President and Chief Executive Officer; and Taylor Luebke, SVP and CFO. Melinda will open and close the call, and Taylor will speak to segment performance and the financials midway through. After our prepared remarks, we will open the line for questions.
Slides will accompany this presentation, and you may view them through our webcast link, which will be available for one year. And a telephone replay of the call will be available for one week
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