La-Z-Boy Q1 results miss estimates on wholesale weakness

La-Z-Boy

18/08/2026 21:29

Overview
U.S. furniture retailer's Q1 sales fell 3%, missing analyst expectations
Adjusted EPS for Q1 missed analyst expectations, down 9% yr/yr
Company returned $35 mln to shareholders via buybacks and dividends, up 62% yr/yr

Outlook
La-Z-Boy expects Q2 sales between $500 mln and $520 mln
Company sees Q2 adjusted operating margin of 4.0-5.5%
La-Z-Boy maintains cautious view of macro backdrop despite strong Retail sales and solid Wholesale backlog

Result Drivers
RETAIL SEGMENT GROWTH - Retail segment written sales rose 16% and delivered sales increased 10%, driven by new stores, acquisitions, and higher same-store sales
WHOLESALE SALES DECLINE - Wholesale sales fell 9% due to uneven order patterns and lower delivered volume
SAME-STORE SALES EXECUTION - Same-store sales in Retail grew 3%, supported by increased design sales, conversion rates, and average ticket

Company press release: ID:nPn9P5vHca

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Miss
$476 mln
$501.34 mln (3 Analysts)
Q1 Adjusted EPS
Miss
$0.43
$0.49 (3 Analysts)
Q1 Loss Per Share
 
$0.06
 
Q1 Adjusted Operating Margin
 
3.90%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the home furnishings peer group is "hold."
Wall Street's median 12-month price target for La-Z-Boy Inc is $46.00, about 10.8% above its August 17 closing price of $41.52
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 12 three months ago

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Aug 17 - US home builder sentiment ticks up in August but remains weak overall

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)