La-Z-Boy -9.8% as weather hurts sales


La-Z-Boy (LZB) -9.8% AH as investors aren't accepting the often-used weather excuse to explain FQ4 results which include the company's first decline in same-store in three-and-a-half years.

Although overall sales rose 2.1% to $353M, same-store sales for the furniture galleries store network fell 0.9% for the quarter after an 11.2% increase in the year-ago period.

LZB says sales were adversely impacted by weather issues beginning in FQ3, which affected the written order rate, and extending into FQ4.

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Comments (1)
  • PeakOiler
    , contributor
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    What hurt sales more than anything else at La-Z-Boy wasn't weather, it was lack of modern product. Their chairs and sofas belong to a long past era, and they need to re-invent themselves, soon.
    17 Jun 2014, 06:02 PM Reply Like
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