La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture retail and manufacturing, today announced strong financial results for its fourth quarter and full fiscal year 2025, underscoring resilient performance amid ongoing macroeconomic headwinds.
© La-Z-Boy
For the fourth quarter ending 26 April 2025, the company reported consolidated sales of $571 million, marking a 3% year-over-year increase. Retail segment delivered sales rose 8%, while wholesale delivered sales increased 2%. Adjusted operating margin held steady at 9.4%, and adjusted diluted earnings per share (EPS) came in at $0.92, despite a $0.10 negative impact from foreign tax discrete items.
Full-year consolidated sales reached $2.1 billion, also up 3% versus the prior year. The company's retail segment delivered a 5% increase in sales, buoyed by the opening of 11 new stores and the acquisition of seven independent La-Z-Boy Furniture Galleries®, contributing to a record expansion year. The total of 203 company-owned stores now represents 55% of the entire La-Z-Boy Furniture Galleries® network.
Joybird, La-Z-Boy's e-commerce brand, grew delivered sales by 5% over the year, despite online demand softening in the fourth quarter. Full-year adjusted operating margin stood at 7.6%, and adjusted diluted EPS was $2.92. The company generated $187 million in operating cash flow for the year, an 18% increase compared to fiscal 2024.
'Our fourth quarter results reflect the ongoing strengthening of our brand and operations under our Century Vision strategy,' said Melinda D. Whittington, Board Chair, President and Chief Executive Officer. 'We executed well throughout the year with sales growth across all of our segments and four consecutive quarters of top line growth, even as the industry contends with depressed housing fundamentals and growing macro uncertainty.'
Whittington added: 'In Retail, we continue to grow our direct-to-consumer business, own the entire end-to-end consumer experience, and develop more value-added consumer insights. Through opening net new stores and also acquiring existing independent La-Z-Boy Furniture Galleries®, we reached a new milestone in the quarter, growing our company-owned store footprint to over 200 stores, nearly doubling our store count over the last 10 years.'
'In Wholesale, we continue to expand our brand reach with compatible strategic partners to serve more consumers,' she said. 'Additionally, we are successfully driving scale and efficiencies in our supply chain. This is highlighted by our core North America La-Z-Boy wholesale business achieving sales growth and margin expansion for four consecutive quarters during fiscal 2025.'
Looking ahead, Chief Financial Officer Taylor Luebke noted, 'We delivered growth and strong financial results in what was another challenging year for the industry. We continue to control what we can control and are executing against our Century Vision strategy, which will enable growth through our centennial and beyond.'
For the fiscal first quarter of 2026, the company anticipates sales between $490 million and $510 million and adjusted operating margin in the range of 5.5% to 7.0%, amid continued economic volatility and planned investments in logistics and delivery redesign.
La-Z-Boy returned $113 million to shareholders over the fiscal year and increased its quarterly dividend by 10% to $0.22 in the third quarter—its fourth consecutive annual increase.
More information:
La-Z-Boy
www.la-z-boy.com