Fri, Oct. 21, 12:00 PM
Wed, Sep. 28, 2:16 PM
- A sales and profit warning from Tempur Sealy International (TPX -24.5%) isn't going unnoticed in the home furnishings and furniture sectors.
- There are concerns that the weakness at Tempur isn't isolated amid uneven consumer spending trends.
- Previously: Tempur Sealy plunges on profit and revenue warning (Sept. 27)
- Decliners include Select Comfort (SCSS -8.3%), La-Z-Boy (LZB -3.8%), Hooker Furniture (HOFT -3.3%), Ethan Allen (ETH -4.1%), Bassett Furniture Industries (BSET -2.1%), and Leggett & Platt (LEG -4.6%).
Wed, Aug. 24, 4:23 PM
Wed, Aug. 24, 12:48 PM
Wed, Aug. 24, 12:01 PM
Wed, Aug. 24, 9:14 AM
Wed, Aug. 24, 8:15 AM
- Shares of La-Z-Boy (NYSE:LZB) are down sharply in premarket trading after the company missed estimates with its FQ1 report.
- A slow traffic trend at the company's galleries was hard to overcome during the quarter. Same-store sales were down 1.9% during the period.
- No investment firms have adjusted their ratings yet on the furniture retailer.
- LZB -14.55% premarket to $26.66 after closing yesterday at an all-time high of $31.22.
- Previously: La-Z-Boy misses by $0.01, misses on revenue (Aug. 23)
Tue, Aug. 23, 5:35 PM
Tue, Aug. 23, 4:32 PM
- After a healthy day, La-Z-Boy (LZB +3.6%) has sunk in postmarket action, down 15.4%, following fiscal Q1 earnings that missed on top and bottom lines.
- Operating income rose (by 9% to $21.8M), as did EPS ($0.28 vs. a year-ago $0.27), but revenue dipped fractionally and same-store sales for LaZ-Boy Furniture Galleries fell 1.9%.
- Revenue by segment: Upholstery, $267.4M (down 1.9%); Casegoods, $25M (up 7%); Retail, $95.7M (up 10.5%); Corporate and other, $1.9M (up 17.3%).
- CEO Kurt Darrow said the company's "optimistic" about the long term: "In addition to the execution of our 4-4-5 store build-out strategy, we are working to increase other distribution channels, expand our share of the stationary upholstery category and capitalize on our integrated retail strategy through growing the number of stores owned by the company."
- Cash from operations came to $34.1M; it ended the quarter with $117.2M in cash and equivalents.
- Conference call to come tomorrow at 8:30 a.m. ET.
- Press Release
Tue, Aug. 23, 4:19 PM
Mon, Aug. 22, 5:35 PM
Wed, Jun. 22, 12:00 PM
Tue, Jun. 21, 4:21 PM
Mon, Jun. 20, 5:35 PM
Tue, May 31, 9:11 AM
- Consumer spending on durable goods rose 2.3% in April, while spending on nondurable goods increased 1.4%. Both marks exceeded the expectations of economists. Overall consumer spending rose at the fastest rate in seven years.with a 1.0% M/M increase.
- While a higher level of spending on automobiles was anticipated, a category to keep an eye on is home furnishings and home repair with more data out suggesting that millennials are freeing up dollars for their houses.
- Related stocks: BSET, CRWS, ETH, HOFT, LZB, LCUT, NWL, SCSS, STLY, TPX, TUP, BGG, SWK, HD, LOW.
- Previously: Retailers with a fix on the modern U.S. consumer (May 28)
- Previously: Personal income rises in-line with forecast (May 31)
Tue, May 3, 4:56 PM
- La-Z-Boy (NYSE:LZB) declares $0.10/share quarterly dividend, in line with previous.
- Forward yield 1.56%
- Payable June 10; for shareholders of record May 25; ex-div May 23.