Furniture stocks were hit hard after La-Z-Boy (LZB -12.6%) posted disappointing quarterly...

|About: La-Z-Boy Incorporated (LZB)|By:, SA News Editor

Furniture stocks were hit hard after La-Z-Boy (LZB -12.6%) posted disappointing quarterly results, even as permits for new construction reached a four-year high (I, II) and shares of home builders seem to forecast a housing recovery. The divergence either means the recovery isn’t real or the comeback is being driven by speculative buying of empty foreclosed homes, John Melloy writes.