La-Z-Boy Q1 FY27: Wholesale Weakness Drives Net Loss; Retail Growth and Buybacks Continue
LZB sits 20% above its 52-week low of $29.03.
Summary
La-Z-Boy reported a Q1 FY27 net loss of $2.3 million, driven by wholesale weakness and restructuring charges, while retail sales grew 10% and the company continued its $300 million buyback program.
Key Events · Earnings and Guidance · LZB
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Net Loss of $2.3M
Q1 FY27 net loss attributable to La-Z-Boy was $2.3 million, or $0.06 per share, compared to net income of $18.2 million, or $0.44 per share, a year ago.
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Wholesale Operating Income Plunges 73%
Wholesale segment operating income fell to $6.7 million from $25.2 million, driven by lower delivered volume, casegoods divestiture, and $12.3 million in supply chain optimization charges.
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Retail Sales Grow 10%
Retail segment sales rose 10.3% to $228.6 million, with written same-store sales up 3% and total written sales up 16%, but operating margin was flat at 6.4%.
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Supply Chain Optimization Charges
Recorded $9.3 million impairment and $3.0 million severance for SLRC Mexico closure, plus $5.0 million for Joybird Tijuana closure, totaling $17.3 million in charges.
Analysis · LZB · Manufacturing
La-Z-Boy swung to a net loss of $2.3 million in Q1 FY27 from a profit of $18.2 million a year ago, as a 73% drop in wholesale operating income and $17.3 million in supply chain optimization charges overwhelmed a 10% increase in retail sales. The company is closing two Mexico plants and divesting its casegoods business, while continuing to repurchase shares aggressively — $25.1 million this quarter under a $300 million authorization. The balance sheet remains strong with $267 million in cash and no borrowings, but the near-term earnings hit is significant.
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In the 30 days to Oct 4, 2026, 29.2% of the 1581 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.60%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, LZB was trading at $34.86 on NYSE in the Manufacturing sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $29.03 to $44.90. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.