La-Z-Boy sales rise 3% to $496 million, but GAAP EPS falls to $0.61 from $0.63
La-Z-Boy reported fiscal first-quarter results for the period ended July 27, 2024, with sales up 3% to $496 million, led by its Wholesale segment. GAAP diluted earnings per share fell to $0.61 from $0.63, and the GAAP operating margin declined to 6.5% from 7.2%, so shareholders see higher sales alongside lower GAAP profit. The company also guided second-quarter sales to $495 million to $515 million and a Non-GAAP operating margin of 6% to 7%.
Key points
- Consolidated sales rose 3% to $496 million; Wholesale segment sales increased 5% to $351 million.
- GAAP diluted EPS was $0.61 versus $0.63 a year earlier; Non-GAAP diluted EPS was $0.62, flat year over year.
- Retail segment delivered sales fell 3% to $202 million, and Retail GAAP operating margin was 10.2% versus 14.1%.
- Second-quarter fiscal 2025 guidance: sales of $495 million to $515 million and Non-GAAP operating margin of 6% to 7%.
The filing
Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 20, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.