La-Z-Boy down after downbeat Q2 forecast
20/08/2024 21:31
** Shares of residential furniture maker La-Z-Boy LZB.N
down 3% at $40.5 in extended trading
** LZB forecasts Q2 revenue between $495 mln and $515 mln
vs. analyst ests of $518.4 mln- LSEG data
** "Looking forward, our industry will remain under pressure
in the near term as the market contends with still high interest
rates, muted housing turnover, and an uncertain economic and
geopolitical environment"- CFO Bob Lucian
** Posts Q1 revenue of $495.5 mln vs ests of $479.7 mln;
adj. EPS of 62 cents
** Stock has risen 13.4% YTD
(Reporting by Juby Babu in Mexico City)
((Juby.Babu@thomsonreuters.com;))