La-Z-Boy – US Upholstery Specialist Beats Forecasts and Expands Its Store Network!
Reading Time: 3 minutes
La-Z-Boy clearly beats expectations with an adjusted earnings per share of $1.26, the quarterly profit doubles – the stock jumps about 15% in after-hours trading. With a debt-free balance sheet, a $300 million buyback, and strong store expansion, the furniture company is playing offensively despite a weak industry. CEO Melinda Whittington sums it up: They are playing offensively and gaining market share in a weak market. Surprise at Year-End: Profit Jump Despite Weak Industry La-Z-Boy positively surprises at the end of the fiscal year. While...
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