La-Z-Boy Inc jumps as profit tops Wall Street estimates
21/06/2022 21:46
** Shares of furniture maker La-Z-Boy Inc LZB.N jump
~12.7% to $25.61 in extended trading
** Co posts Q4 adjusted profit of $1.07/share vs Wall Street
estimates of 92 cents/share - Refinitiv data urn:newsml:reuters.com:*:nGNX2B9R7C
** LZB says it saw strong consumer demand despite
significant global supply chain challenges, macroeconomic and
geopolitical uncertainty
** Sales in the qtr jumped 32% to $685 million, compared
with analysts' expectations of $664.9 mln
** Two of three brokerages rate the stock "buy" or higher,
one "hold"; their median PT is $43
** As of last close, shares down ~37.4% YTD
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com;))