Global upholstery manufacturer La-Z-Boy Incorporated has reported flat fourth quarter sales.
According to its latest trading update for the period ended 25 April 2026, total sales stood at $570.3m compared to $570.8m in 2025.
Operating margin improved to 7.2% for the quarter on a GAAP basis, while adjusted net income attributable to La-Z-Boy Incorporated stood at $51.6m, up from $38.3m.
Fourth quarter total written sales for the Retail segment (company-owned La-Z-Boy stores) increased 11% versus a year ago. Written same-store sales (which exclude the impact of both newly opened stores and newly acquired stores) were down 2%, a sequential improvement, and comparing favorably to the broader industry.
During the quarter, same-store sales trends were strongest in April with positive trends continuing through May.
As for the wholesale segment, sales decreased 2% to $393 million versus last year, driven by modest declines across most of the businesses.
For the full year, total sales rose 1% to $2.12bn from $2.1bn, with adjusted net income resulting at $125.7m, up 2% from $123.7m.
Melinda D. Whittington, Board Chair, President and Chief Executive Officer of La-Z-Boy Incorporated, said: “We are pleased with the strong finish to the fiscal year as our fourth quarter margin performance exceeded expectations driven by strong execution across our businesses. We continue to drive our own momentum and are playing offense, led by our Retail business expansion through new stores, acquisition of independent stores, and delighting consumers across our network.
“This growth has contributed to our solid results and market share expansion against an industry that remains soft. Our company-owned stores now total 230 across North America, an all-time high of 61% of our total network, and are a key pillar of our Century Vision strategy to grow La-Z-Boy brand reach.”
“We continue to execute well across our Century Vision strategy, and are increasingly focused on our core, vertically integrated North American upholstery business where we have a clear right to win with consumers. Over the last year, we have successfully exited our wholesale casegoods businesses, streamlined our UK supply chain, are transforming our entire distribution and home delivery network, and we recently announced streamlining two additional smaller manufacturing plants into our larger U.S. plant network.
“These actions continue to optimize our enterprise to drive sustainable sales growth and margin expansion even against the current macroeconomic backdrop. As we approach our 100-year anniversary in March 2027, we will continue to drive forward with consumer-led innovation, Retail expansion, and digital transformation to position La-Z-Boy Incorporated for continued success in the next 100 years.”
