Q4 2026 La-Z-Boy Inc Earnings Call Transcript
Key Points
- La-Z-Boy Inc (LZB) reported a 9% increase in retail segment sales for the fourth quarter, driven by acquisitions and new store openings.
- The company achieved a strong adjusted operating margin of nearly 14% in the retail segment for the quarter.
- La-Z-Boy Inc (LZB) opened a total of 15 net new stores during the fiscal year, marking the highest number of annual net new store openings in the company's history.
- The company generated $204 million in operating cash flow, up 9% compared to the previous year.
- La-Z-Boy Inc (LZB) maintained a strong balance sheet with over $300 million in cash and no external debt.
- Wholesale segment sales decreased slightly, although the adjusted operating margin improved.
- Written same-store sales for the retail segment decreased by 2% for the quarter, despite a sequential improvement.
- Joybird's delivered sales were down 10% due to lower delivered sales volume, impacting the company's overall performance.
- The company recorded a $20 million noncash impairment charge to reduce the carrying value of Joybird's goodwill.
- La-Z-Boy Inc (LZB) faces ongoing inflationary pressures, particularly in raw materials like poly, which could impact future margins.
Greetings. Welcome to the La-Z-Boy Fiscal 2026 fourth quarter conference call. (Operator Instructions) Please note this conference is being recorded.
I would now like to turn the conference over to your host, Mark Becks, Director of Investor Relations and Corporate Development of La-Z-Boy Inc. You may begin.
Thank you, Holly. Good morning, everyone, and thanks for joining us to discuss our fiscal 2026 fourth quarter. Joining me on today's call are Melinda Whittington, La-Z-Boy Incorporated 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 beginning this
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