RSS   Newsletter   Contact   Advertise with us

La-Z-Boy sales down

Christian Fernsby ▼ | June 24, 2020
La-Z-Boy reported its operating results for the fiscal 2020 fourth quarter and full year ended April 25, 2020.
La-Z-Boy
La-Z-Boy   Cash generated from operating activities increased 9.0% to $164.2 million
Fiscal 2020 full year versus Fiscal 2019 full year:

Topics: La-Z-Boy

• Consolidated sales decreased 2.4% to $1.70 billion, reflecting ten months of strength and two months of dramatic temporary impact from the coronavirus pandemic
• Consolidated operating margin:

GAAP: 7.0% versus 7.4%
Non-GAAP: 8.2% versus 7.8%
• Upholstery: 10.8% versus 10.1%
• Retail: 8.2% versus 6.9%
• Net income attributable to La-Z-Boy Incorporated per diluted share (“EPS”):

GAAP: $1.66 versus $1.44
Non-GAAP: $2.16 versus $2.14
• Cash generated from operating activities increased 9.0% to $164.2 million
• The company returned $68.4 million to shareholders through share purchases and dividends
• Cash, cash equivalents, and restricted cash were $263.5 million at year end, including $75.0 million in cash proactively drawn on the company's credit facility, and the company held $28.6 million in investments to enhance returns on cash, up from $131.8 million in cash, cash equivalents and restricted cash, and $31.5 million in investments to enhance returns on cash at the end of fiscal 2019

Fiscal 2020 fourth quarter versus Fiscal 2019 fourth quarter:

• Consolidated sales decreased 19.1% to $367.3 million, reflecting two months of dramatic temporary impact from the coronavirus pandemic
• Consolidated operating margin:

GAAP: 3.7% versus 8.2%
Non-GAAP: 9.3% versus 8.6%
• Upholstery: 11.8% versus 11.6%
• Retail: 10.8% versus 8.5%
• Net income attributable to La-Z-Boy Incorporated per diluted share (“EPS”):

GAAP: $0.05 versus $0.03
Non-GAAP: $0.49 versus $0.64
• Cash generated from operating activities was $44.5 million
• The company returned $14.5 million to shareholders through share purchases and dividends.


 

MORE INSIDE POST