Every material Form 8-K La-Z-Boy filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
La-Z-Boy reported fiscal second-quarter 2025 results for the period ended October 26, 2024. Sales rose 2% to $521 million and GAAP diluted EPS rose to $0.71 from $0.63, but non-GAAP diluted EPS fell to $0.71 from $0.74 and non-GAAP operating margin declined to 7.5% from 7.9%. The board also raised the quarterly dividend 10% to $0.22 per share and guided third-quarter sales to $505 million to $525 million.
Sales of $521 million, up 2% from $511 million a year earlier; Retail segment delivered sales rose 3% to $222 million
GAAP diluted EPS $0.71 vs. $0.63; non-GAAP diluted EPS $0.71 vs. $0.74 (down 4%)
Quarterly dividend raised 10% to $0.22 per share, payable December 16, 2024, to holders of record on December 5, 2024
Third-quarter outlook: sales of $505 million to $525 million (up 1% to 5%) and non-GAAP operating margin of 6% to 7%
La-Z-Boy CFO Robert G. Lucian will retire, effective April 26, 2025, and remain in his CFO role through December 31, 2024. The board elected Taylor E. Luebke, the company's current Vice President, Finance and Treasurer, to succeed him as Senior Vice President and Chief Financial Officer effective January 1, 2025. The change is a planned leadership transition that gives shareholders a named successor and a set compensation package.
Lucian informed the company of his retirement on October 7, 2024; he stays as Senior Vice President through fiscal year 2025 to support the transition.
Luebke, age 42, has been Vice President, Finance and Treasurer since January 2023 and joined the company in January 2021.
Luebke's annualized base salary will be $440,000, with a short-term cash incentive target of 75% of eligible earnings for the rest of fiscal 2025.
Luebke will receive a one-time restricted stock unit grant valued at $200,000 on January 15, 2025, vesting 25% per year over four years.
La-Z-Boy's board elected Matthew Baer, chief executive of Stitch Fix, as an independent director effective January 1, 2025, expanding the board to 11 members. The filing says he will receive non-employee director compensation and a restricted stock unit grant with a grant date value of $87,660.
Baer, age 42, has been Stitch Fix CEO since June 2023.
He previously held leadership roles at Macy's from March 2020 to June 2023 and was Vice President of Walmart eCommerce from January 2016 to March 2020.
The board approved an RSU grant with a grant date value of $87,660, effective January 2, 2025, under the 2024 Omnibus Incentive Plan.
At its August 27, 2024 annual meeting, La-Z-Boy shareholders approved the 2024 Omnibus Incentive Plan, which replaces the 2022 plan and authorizes 3,090,000 shares for grants. Shareholders also elected all ten director nominees, ratified PricewaterhouseCoopers LLP as auditor for fiscal 2025, and approved executive compensation in a non-binding advisory vote. The plan governs future equity and incentive awards to officers, directors and employees.
2024 Plan approved with 34,632,557 votes for and 2,307,990 votes against, with 47,141 abstentions and 2,194,896 broker non-votes
Plan authorizes 3,090,000 shares and replaces the La-Z-Boy Incorporated 2022 Omnibus Incentive Plan
All ten director nominees elected to serve until the 2025 annual meeting; Michael T. Lawton had the most votes withheld at 797,148
Non-binding say-on-pay vote approved with 35,751,445 votes for and 1,185,114 against
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%.
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%.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every La-Z-Boy filing is on SEC EDGAR ↗. 8-K briefs of other companies →