La-Z-Boy reports Q1 2027 results, retail written sales rise 16%

La-Z-Boy (NYSE: LZB ) released first-quarter financial results and hosted an earnings call on Wednesday.

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View the webcast at Summary La-Z-Boy Incorporated reported a 16% increase in retail written sales and a 3% increase in same-store sales, driven by in-store execution.

The company added four new stores and announced plans for further acquisitions, aiming for a total of 450 stores in North America.

Despite a mixed quarter with a 1% decrease in total delivered sales, the company remains optimistic, citing strong retail performance, strategic investments, and a solid backlog.

La-Z-Boy's strategic initiatives focus on retail expansion, digital transformation, and supply chain optimization, including plant consolidations and distribution transformation.

Joybird, a segment of the company, experienced a 17% decrease in written sales, with efforts underway to stabilize and integrate manufacturing into the U.S. network.

The company returned $35 million to shareholders and ended the quarter with $267 million in cash and no external debt.

Future guidance suggests a cautious but optimistic outlook, with expected sales growth of -1% to 2% in the second quarter and continued strategic investments.

Full Transcript A Sam.

It's.

Sam.

B Good morning everyone and welcome to the La z boy fiscal 2027 first quarter conference call.

At this time, all participants are in a listen only mode.

A question and answer session will follow the formal presentation.

If anyone should require operator assistance during the conference, please press 0 on your phone keypad.

Please note this conference is being recorded.

I will now turn the call over to your host, Mark Bex, Director of Investor Relations and Corporate Development at La Z Boy Incorporated.

Mark, the floor is yours.

C Thank you, Jenny.

Good morning everyone and thanks for joining us to discuss our fiscal 2027 first 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 in 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 afternoon.

I would like to remind you that some statements made in today's call include forward looking statements about La Z Boy's future performance and other matters.

Although we believe these statements to be reasonable, our actual results could vary materially.

The most significant risk factors that could affect our future results are described in our annual report on Form 10K.

We encourage you to review those risk factors as well as other key information detailed in our SEC filings.

Also, our earnings release is available under the News and Events tab on the Investor Relations page of our website and it includes reconciliations of certain adjusted measures which are also included as an appendix at the end of our conference call slide deck.

With that, I will now turn the call over to Melinda.

D Thank you Mart.

Good morning everyone.