MONROE, Mich. – La-Z-Boy Incorporated () reported first quarter results that missed analyst expectations on both earnings and revenue, while providing second quarter guidance below Wall Street estimates. LZB stock was down 16% in after-hours trading following the announcements
The furniture retailer posted adjusted earnings per share of $0.43 for the quarter ended July 25, 2026, falling short of the analyst consensus of $0.49. Revenue totaled $476 million, down 3% YoY and below the $495.45 million analyst estimate.
Excluding the impact of the wholesale casegoods divestiture completed in May, sales declined 1%. The company reported a GAAP diluted loss per share of -$0.06, compared to earnings of $0.44 in the prior year period.
For the second quarter, La-Z-Boy issued revenue guidance of $500-$520 million, with the midpoint of $510 million significantly below the analyst consensus of $536.8 million. The company expects adjusted operating margin in the range of 4.0-5.5%, reflecting investments in new stores, advertising, strategic pricing, and digital transformation.
The Retail segment delivered strong performance with delivered sales up 10% to $229 million and written same-store sales growing 3%. However, this was offset by a 9% decline in Wholesale segment sales to $323 million, impacted by uneven order patterns throughout the quarter. Adjusted operating margin compressed to 3.9% from 4.8% in the prior year period, primarily due to expense deleverage on lower Wholesale and Joybird delivered sales.
“During our first quarter, we continued to gain share and drive momentum in our Retail segment, where we control the full end-to-end consumer experience,” said Melinda D. Whittington, Board Chair, President and Chief Executive Officer.
The company returned $35 million to shareholders through $25 million in share repurchases and $10 million in dividends, a 62% increase versus the prior year. La-Z-Boy ended the quarter with $267 million in cash and no external debt.
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